Tax Nightmare: Student Invested $5k in Ethereum & Now Owes $400k in Taxes

Tax Nightmare: Student Invested $5k in Ethereum & Now Owes $400k in Taxes


In May 2017, a college student based in the US invested $5,000 in Ethereum (ETH), when the digital asset was worth around $50. Within merely months, the price of ETH skyrocketed from $50 to $1,281 at its peak, as the cryptocurrency market achieved a valuation of $800 billion. With a base return of 25-fold, having

The post Tax Nightmare: Student Invested $5k in Ethereum & Now Owes $400k in Taxes appeared first on CCN

Posted by Joseph Young on November 7, 2018 @ https://www.ccn.com/tax-nightmare-student-invested-5k-in-ethereum-now-owes-400k-in-taxes/

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