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Re:Coinbase Ordered to Turn Over Identities of 14,355 Crypto... by daveguy on Thursday November 30, 2017 @12:27PM (#15817537)
You don't claim a loss when dollars inflate because dollars are the official currency of the US. Any other asset (BTC, fiat, etc) is assessed on it's value relative to USD. If you sell back to USD you owe on the difference -- whether you do it all at once or one purchase at a time.

If you get paid in crypto then you owe income tax for its value at the time of salary payment.

If your salary is specified in BTC you should be prepared to pay lots of tax when you are paid. If it is specified in USD but paid in BTC then accounting will be easier.

I hope you have a good accountant and a good lawyer, especially if you are one of those the IRS is investigating.

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