Oddbean new post about | logout
 Question, if you get paid in #bitcoin do you have to report it in your taxes? 
 Only if the payee reports it :) 
 Income is income. You're supposed to.  
 Morally? No. 

Legally? Probably. 

Would I? Likely not.  
 I would definitely not. I don’t think they’re smart enough to figure it out yet. But, I’m a degenerate so idk 🤷‍♂️ 
 Absolutely 
 If you file a US Tax Return, you will be forced to answer this question: 

At any time during 2023, did you: (a) receive (as an award, reward, or payment for property or services); or (b) sell, exchange, or otherwise dispose of a digital asset (or financial interest in a digital asset)? 

So yes, the IRS expects you to report and pay taxes on payments received in Bitcoin or any else for that matter. They always want their “pound of flesh.” 
 In the US I know the state wants you to. 

Whether or not anybody actually does report it is another subject.  
 Technically I'd report the value in dollars at the time I received it. This becomes your cost basis for the capital gains you'll accrue if you sell it.

But if neither side says anything, nothing happened. 
 Here in germany, we'd have to apply the same taxes.
Technically.
But they don't actually have a bc1 xD 
 What pay? 👀