Yikes! A Reddit user claims he owes the IRS $50,000 thanks to bitcoin.
That’s a lot of cash. Check out CNBC’s advice on how to avoid a surprise tax bill like this one.
It’s dizzying to keep up with bitcoin’s rise and fall. The price has shot from below $1,000 at the beginning of 2017 to more than $19,000 in December before plunging to $8,000 this month. Investors who cashed out when the market was high now find themselves socked with a huge tax bill. Read on…