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  1. 03-04-21, 04:38 PM #8
    Stephen
    Stephen is offline
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    If one had been dealing in cryptocurrency in that form's tax year what difference would leaving it blank make?

    According to theory FRN is taxable because the tax on it is interest paid on a notes of debt that are the FRNs. Once the FRN is converted to Lawful Money by means of non-endorsement statement on a paper check, or statement made on the account's signature card, the deposit is not taxable. Cryptocurrency is also not a debt note. So wouldn't that mean paying taxes on it is no more taxable than Lawful Money is, most especially if a way is found to make sure that proceeds of any sale of it is deposited into a bank account as Lawful Money?
    Last edited by Stephen; 03-09-21 at 07:03 PM.
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