<p>In the United States, Bitcoins are treated like a commodity asset, not like cash. So when you buy something with Bitcoins or exchange Bitcoins for dollars, you have a taxable capital gain on the difference between your basis in the Bitcoins and the value you got for the Bitcoins.</p>

CC BY-SA 3.0
2015-05-04T09:14:51.000Z
2015-05-04T09:14:51.000Z
David Schwartz
<p>Do I pay any taxes to purchase or sell bitcoin? If I use a Bitcoin debit card and withdraw USD from an ATM, is it a taxable event?  </p>

CC BY-SA 3.0
2015-04-30T21:17:28.483Z
In what jurisdiction?
Nick ODell
<taxes>
what are my tax implications for cryptocurrency?
user25300
# what are my tax implications for cryptocurrency?

(Asked by: username_0 on 2015-04-30)

Do I pay any taxes to purchase or sell bitcoin? If I use a Bitcoin debit card and withdraw USD from an ATM, is it a taxable event?

**Tags:** taxes

> **Comments:**
> **username_1**: In what jurisdiction?  

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## 1 answers

### Answer by username_2 on 2015-05-04. Score: 1

In the United States, Bitcoins are treated like a commodity asset, not like cash. So when you buy something with Bitcoins or exchange Bitcoins for dollars, you have a taxable capital gain on the difference between your basis in the Bitcoins and the value you got for the Bitcoins.


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