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Proper documentation of all transactions, landscape effectively.
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Proper documentation of all transactions, landscape effectively.
In an arm's length transaction, your basis in such virtual currency is the fair market value of the virtual currency, in US dollars, when the virtual currency is received. You will be entitled to a charitable contribution deduction equal to the fair market value of the virtual currency at the time of the donation if you have held the virtual currency for a year or more. Generally, self-employment income includes all gross income derived by an individual from any trade or business carried on by the individual as other than an employee.