1 upvotes, 1 direct replies (showing 1)
View submission: Reddit announces partnership with the Ethereum Foundation
AFAIK Bitcoin/cryptocurrency isn't seen as money in Germany and therefore not considered income. Until you cash it out into euros. Then you pay capital gains.
Comment by [deleted] at 09/02/2021 at 23:40 UTC
2 upvotes, 0 direct replies
That was my point. Chickens are not money either, but they are "something of value". The US tax people don't care the form of your income, just it's value in USD. Now if you *bought* the Chickens with your own money, that is not income until you sell them. But if someone *gave* you the chickens, that is income in the amount of the value of said chickens. Anyway, that is US tax law[1].
1: https://www.irs.gov/newsroom/bartering-income-the-value-of-property-or-services-you-receive