What time is it? It’s Crypto time!
Cryptocurrency has gone mainstream. Yes, it has.
For example, you can use Bitcoin — the most popular cryptocurrency — to buy far more than you would think. To see, try googling “What can I buy with Bitcoin?” You will get more than 133 million hits.
But using cryptocurrencies has federal income tax implications that may surprise you.
With the price of Bitcoin having gone through the roof (before it’s recent decline), and with increasing acceptance of bitcoin and other cryptocurrencies as forms of payment, the tax…