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RE: STEEM Is Now My Lead-In When Talking To Anyone New To Cryptocurrency: A How To Tutorial

in #steem6 years ago

We met with our CPA today to start on our 2017 taxes. She kind of understood Bitcoin/Coinbase, but the Steemverse and the idea that you can earn crypto without investing “real money” was a new concept for her.

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I would think the fact that the IRS ruled that cryptocurrency is to be treated as a security for tax purposes only adds to the confusion for the accounting profession. Most CPAs, unless there are dealing with some high up corporate clients, deal with tradition securities bought as an investment and held for a certain time period.