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Regardless of the label applied, currency received as a gift you will not recognize income coode, then you will have that is recorded by the.
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Crypto Taxes 2014-2017The IRS has not released significant guidance on virtual currency transactions in over five years. In March , the IRS issued Notice (the Notice). Notice SECTION 1. PURPOSE. This notice describes how existing general tax principles apply to transactions using virtual currency. Notice · Cryptocurrency is property rather than currency under section ; · Miners have income when they receive cryptocurrency because.