Miami-Dade now accepts Bitcoin for property taxes, but who will use it when it's a taxable sale? "You can now use Bitcoin to pay your property taxes in Miami-Dade. Don't know why…
Original source excerpt
Miami-Dade now accepts Bitcoin for property taxes, but who will use it when it's a taxable sale? "You can now use Bitcoin to pay your property taxes in Miami-Dade. Don't know why you would." "The cr…
Miami-Dade now accepts Bitcoin for property taxes, but who will use it when it's a taxable sale? "You can now use Bitcoin to pay your property taxes in Miami-Dade. Don't know why you would." "The crypto is converted into US dollars before payment reaches the county. So the tax collector does not hold or invest in crypto. So they will not be adding Bitcoin to the balance sheet." "Back in the day, when we were really in peak crypto euphoria, 2021, 2022, when Miami was going to become the crypto capital of the world, they did actually talk about letting you pay taxes and then that they would add it to the balance sheet." "The IRS treats crypto as property still. So if you use Bitcoin to pay your property taxes, it will be a sale of Bitcoin and therefore a taxable transaction." "I would bet personally that literally nobody does this. Everyone who has Bitcoin wants to hold it and doesn't want to pay their taxes with it."
AI context is not available for this statement. The original source can be read independently.