2015 has been an up-and-down year for the price of Bitcoin and other digital currencies. Bitcoin started at $313 and quickly dropped to nearly $200 then bounced between $210 and $300 till the end of Oct. A resurgence put it up to $450 for the end of year. Anyone that…
In the previous two parts of this series we've been through the type of information typically declared on your tax forms. This is often capital gains, in Schedule D, and if you have any income, Schedule C or line 21 of the 1040. In this final part, we're going to…
In the first part of this series we looked at how calculating capital gains for Bitcoin gets complicated very quickly. There are a few more specific areas that should be understood and might be relevant when filing taxes. Capital Losses Selling or spending Bitcoins at a lower price than you…
The US Tax season has now opened and while the IRS are accepting returns you may be looking at your 1040 and then at your Bitcoin wallet and thinking, "What do I do?". Fortunately BitcoinTaxes is here to help you work out all the overly-complicated and burdensome tax calculations that…
Today is the April 15th deadline for US taxpayers. If you can't file, or mail, your taxes by today you should file an extension that allows you to delay your tax return until October 15th. File for an Extension This is quite simple and can be done through IRS freefile…