Buying BTC Using Online or Offline Retailers – How Does Taxing Work

It seems like everywhere you turn, people are talking about the meteoric rise of bitcoin. Bitcoin, the most well known cryptocurrency, seems to be a topic that people can’t get enough of. But here’s one thing most bitcoin enthusiasts aren’t talking about: bitcoin taxes.
So, how do taxes apply to bitcoin? While bitcoin is a new kind of currency, the IRS doesn’t tax it like a currency. Technically, the IRS treats bitcoin as property, and all the general tax principles that