Interesring. Maybe a good best practice then to keep a spreadsheet of the purchases with their $/btc value at time of purchase then. Unless there are apps that automate this.

Fiatrevelation

The transaction will be considered as payment in property, which is perfectly legal. When doing taxes the merchant will have to report the income based on fair market value of Bitcoin in fiat at the time of the payment.

bitcoin

Pricing in BTC

The transaction will be considered as payment in property, which is perfectly legal. When doing taxes the merchant will have to report the income based on fair market value of Bitcoin in fiat at the time of the payment. 