Bitcoin and Taxes


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…

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