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Re: Bulletin: Cypherpunks say no taxes owed by moneychangers!
Lets state it simply, if you make a gain by holding a currency then
it must be included in your reported income. At least one writer
correctly stated that the IRS likely does not care about small
amounts taken on a trip, but they are technically reportable.
Same goes for a loss, it is a deduction (with string attached of
course) from taxable income.
Aside from ecash, helping people to exchange currency is my day job
so I see this all the time, especially this month each year.
Best
FOT
Disclaimer: Personal not corporate thoughts....
Frank O. Trotter, III - [email protected]
www.marktwain.com - Fax: +1 314 569-4906
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