Are Bitcoin Purchases Taxable?
Bitcoin purchases are subject to taxation in many countries. When you buy Bitcoin, it is generally not taxed at the time of purchase, but any gains from selling or using it may be taxable as capital gains or income. For example, in the United States, the IRS treats Bitcoin as property, so profits from its sale are taxed. It is essential to keep records of your transactions and consult a tax professional to ensure compliance with local laws.
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