Notice 2014-21

This notice describes how existing general tax principles apply to transactions using virtual currency. It provides this guidance in the form of answers to frequently
asked questions such as: How is virtual currency treated for federal tax purposes?; Is virtual currency treated as currency for purposes of determining whether
a transaction results in foreign currency gain or loss under U.S. federal tax laws?; and, Must a taxpayer who receives virtual currency as payment for goods or
services include in computing gross income the fair market value of the virtual
currency?