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re: My faith in Bitcoin just went out the window
Posted on 3/8/13 at 2:21 pm to WikiTiger
Posted on 3/8/13 at 2:21 pm to WikiTiger
quote:Barter transactions are taxable from both a federal income tax and sales tax (in most states) standpoint.
the use of bitcoins should be treated no differently than barter.
Failure to report barter transactions is considered tax fraud.
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