Question: heremiah converted $ 2 , 0 0 0 into Bitcoin in November 2 0 2 1 . In October 2 0 2 2 , when

heremiah converted $2,000 into Bitcoin in November 2021.In October 2022,when the balue 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?

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