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Using Bitcoin for payments triggers taxable gains or losses in the US, requiring careful transaction tracking.

Market News
27 Oct 2026, 01:40 WIB
Tokenpost
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Neutral
Using Bitcoin for payments triggers taxable gains or losses in the US, requiring careful transaction tracking.

In the US, spending Bitcoin on goods or services is considered a taxable event that may generate gains or losses, even if brokers do not report these transactions. Taxpayers must self-report all Bitcoin transactions, including exchanges, purchases, and payments, as part of a barter system. Deloitte's tax expert Rob Massey highlights the complexity of tracking cost basis and income classification, especially with self-custody wallets and cross-border transactions. The IRS is improving reporting but gaps remain, urging taxpayers to maintain detailed records and address past omissions proactively to avoid penalties.

Bitcoin payment tax reporting obligations provide context for cryptocurrency market activity. For readers following major cryptocurrencies, here is Pluang's market snapshot as of Oct 27, 2026 06:02 WIB: out of 50 major cryptocurrencies priced on Pluang, 16 rose and 32 fell today. Notable movers include CAKE (PancakeSwap) at Rp38.700 with a 1-day change of +3.88% and a typical hold time of 75 days, ZIL (Zilliqa) at Rp35 with +3.16% change and 134 days hold time, and GRT (The Graph) at Rp397 with -2.86% change and 99 days hold time. Pluang order activity shows a buy majority for CAKE and GRT, while ZIL has more sell orders.

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