Bonus, in bitcoin
Spouse is receiving a bonus paid in units of a cryptocurrency. Company "may" be paying the taxes on the bonus. What are the questions I need to get answered, as the finance person in the house?
I am already asking: How are they reporting the bonus to IRS -- W2? In units of dollars (would have to be)?
I know we need to figure out how to track the basis -- what is acceptable as a record? We anticipate trading much of this currency for US dollars. Then the gateway that does the trade reports a sale, and we need to report gain/loss, just as if for stocks/funds? I assume the gateway won't be issuing a 1099b.
This is a bit confusing to me, so any pointers towards what I should be asking so that I can correctly deal with our taxes on the bonus and the eventual sale of the currency, are appreciated. I am well aware that cryptocurrencies are smelling like tulips right about now.
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