Bitcoin Traders' Tax Trauma

There’s a whole bunch of bitcoin investors out there with gains to report to the Internal Revenue Service, judging from the crypto's 1,400% surge in value last year, Bloomberg notes. Both the traders and tax professionals are “freaking out” ahead of the filing deadline on April 17. “Tangled blockchain addresses and rudimentary guidelines issued back in the ancient days of 2014” have made it hard to determine ownership, dates and jurisdictions — keys to determining the capital gains tax that often applies, the site says.

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