Virtual Currency and the IRS

Dr Friday Tax Tips - One Minute Moment
Dr. Friday Tax Tips
Virtual Currency and the IRS

Dr. Friday 0:00
Good day. I’m Dr. Friday, president of Dr. Friday Tax and Financial Firm. To get more info go to This is a one minute moment.

Virtual currency. A lot of talk and a lot of tax issues. Did you know if you bought one bitcoin a 10 years ago today that Bitcoin can be worth $90,000? It’s considered one of the fastest and most increasing stocks, I guess you could say that someone purchased. And so when it comes to virtual currency, the IRS is sitting there going, wait a second, there’s a lot of money we don’t know about. So starting last year, they started sending out love letters to people that they know have invested in virtual currencies.

If you have a question about how you should be reporting this, and you should be, call me 615-367-0819.

Announcer 0:52
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