Surprise: Bitcoins Are Taxable

A new client met with us recently. He was an early adopter of cryptocurrency and has been selling Bitcoins (BTC) and living on the sales for several years. And he was very surprised to learn that he has tax problems. He has not reported any of his sales. Cryptocurrencies such as BTC, Ripple and Dash have a history of volatility and have been on a proverbial teeter-totter in the markets. Some investors (or speculators) who got into the cryptocurrency markets as dire warnings of a possible...