It depends. Generally, you inherit the basis of anything given to you as a gift. This means you would take the same basis as the friend who gave you the…

Bitcoin Mining As A Business According the IRS, a “business” is an activity in which you are engaged on a substantial and continuing basis for the purpose of generating a profit….
You are permitted to deduct investment related expenses as an “itemized deduction.” However, this deduction is fairly meaningless for most investors. This is because you must actually itemize your deductions…
The US income tax system relies upon voluntary compliance, meaning that you are expected to voluntarily report your income. This inevitably leads to the temptation to inaccurately report your income…

There is a tremendous amount of uncertainty regarding the federal regulation of bitcoin miners and other bitcoin related businesses. In particular, there is some worry that bitcoin miners could be…
The proper tax treatment of bitcoin gains is generally uncertain. The issue comes down to whether cryptocurrencies are capital assets, foreign currency, or something else. There are strong arguments…