News / Article

Wall Street Journal Suggests ‘Quick Sale, Repurchase’ of Bitcoin ‘May Lower Your Taxes’

Source: https://cointelegraph.com/news/wall-street-journal-suggests-quick-sale-repurchase-of-bitcoin-may-lower-your-taxes - Dec 21, 2018

An article published Dec. 21 by The Wall Street Journal (WSJ) has suggested investors should sell and then repurchase their Bitcoin (BTC) as a strategy to save on taxes.

In the context of the 2018 crypto bear market, the WSJ suggests that “the only good thing about investing in cryptocurrencies [this year] was the tax break.”

Given that the United States tax authority, the Internal Revenue Service (IRS), has treated crypto as investment property as of 2014 — akin to stocks and bonds, not currency — crypto users can allegedly benefit from the “special and often favorable” taxation policy the country gives to investments.

CLICK SOURCE TO READ ARTICLE

Category: General Business