Jeremiah converted $2,000 into Bitcoin in November 2021. In October 2022, when the value of his holding had increased to $3,500, Jeremiah decided to purchase a watch using Bitcoin. He spent the entire holding on the watch. How will Jeremiah report this on his tax return?

Answer rating: 100% (QA)

In many jurisdictions including the United States disposing of cryptocurrency such as Bitcoin is con... View the full answer