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A comment on IRS Rules Bitcoin Is Property, Not Currency. Parent comment

Re:IRS Rules Bitcoin Is Property, Not Currency by mcherm on Thursday March 27, 2014 @12:55PM (#7481677)
You have an odd way of phrasing it.

I would have said that the tax issues DO change because you've held an asset for Y years: if Y >= 1 year then you are taxed at one rate and if Y < 1 year then you are taxed at a different rate.

Regardless, the tax consequences are now clear.

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Re:IRS Rules Bitcoin Is Property, Not Currency by lutusp on Thursday March 27, 2014 @01:12PM (#7481789)
> I would have said that the tax issues DO change because you've held an asset for Y years: if Y >= 1 year then you are taxed at one rate and if Y < 1 year then you are taxed at a different rate.

Fair enough, but my point is that you aren't taxed at all until you sell the asset. People who haven't invested much don't get that, and it's an argument in favor of buy & hold.

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