03/21/2023
For those persons administering, exchanging, or using virtual currencies, be aware...all virtual currency transactions in the USA are reported to the IRS. However, you could be holding millions of BTC or other crypto, the IRS determines tax consequences when the crypto is converted to US Dollars for the Fair Market Value at THE TIME of conversion to US fiat. Tax consequences are treated by the IRS as short term or long term CAPITAL GAINS OR LOSS.
