Is the appreciation in bitcoins taxable?

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If you have large gains in bitcoin, is there any way that it can be taxed? If I have $5000, and it appreciates to $10,000 worth of bitcoin, when I sell bitcoin for dollars can it be taxed as a capital gain? I would think that since there is no documentation to support it that it would be difficult.

user3650

Posted 2013-03-28T04:50:05.030

Reputation: 11

Question was closed 2013-03-28T18:27:35.797

2Please specify a country if you're asking about taxes. – Nick ODell – 2013-03-28T06:12:40.970

I'm giving this a +1, but I also flagged the question as belonging on Personal Finance.SO. However, please slightly-modify your question so that it is more generic to the value of digital assets and other e-currencies, rather than just Bitcoin. – RLH – 2013-03-28T10:39:43.927

Answers

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My guess is that as long as you have a receipt for the buy, and one for the sell then there is no reason why the government would say no to taking their share if it. I guess it's just classed as currency trading??

Andrew

Posted 2013-03-28T04:50:05.030

Reputation: 1

Asked: 2013-03-28T04:50:05.030

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Active: 2013-03-28T08:16:28.543