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A comment on Tesla has suspended vehicle purchases using Bitcoin. Parent comment

Re:Tesla has suspended vehicle purchases using Bitcoin by URSpider94 on Wednesday May 12, 2021 @07:35PM (#27136540)
Why is #1 a concern? If your BTC appreciated vs USD while you held it, then you'll owe tax on it. If it declined, then you can claim a loss to offset other gains. It's just paperwork. I would imagine that any BTC wallet services worth their salt will be able to spit out an automatic 1099 at the end of the year that can be imported into your tax software.

For #2, I can't see companies offering to pay employees in BTC - it opens them up to too much legal risk.

[ Parent | on HN ]
Re:Tesla has suspended vehicle purchases using Bitcoin by oraphalous on Wednesday May 12, 2021 @08:04PM (#27136744)
1) Cause it's effort... as opposed to one single capital gains event when I sell - I would have zillions to colate for all my purchases at different price points. It's not the fact of having to pay tax... it's the effort of tracking what tax I have to pay.

2) Mebbe - no idea either way.

[ Parent | on HN ]