Bulletin: Cypherpunks say no taxes owed by moneychangers!

Frank O. Trotter, III fotiii at crl.com
Tue Apr 9 01:48:29 PDT 1996


Lets state it simply, if you make a gain by holding a currency then
it must be included in your reported income.  At least one writer
correctly stated that the IRS likely does not care about small
amounts taken on a trip, but they are technically reportable.

Same goes for a loss, it is a deduction (with string attached of 
course) from taxable income.

Aside from ecash, helping people to exchange currency is my day job
so I see this all the time, especially this month each year.

Best

FOT

Disclaimer: Personal not corporate thoughts....

Frank O. Trotter, III  -   fotiii at crl.com
www.marktwain.com  - Fax: +1 314 569-4906
--------------------------------------------






More information about the cypherpunks-legacy mailing list