What is the status on the tax implications and the legality of online gambling with bitcoin? There are a few places online that let you play poker etc. with bitcoins. Is that legal in the US? How are winnings taxed?
The wiki(https://en.bitcoin.it/wiki/Tax_compliance#Are_my_bitcoins_ta...) talks about "Income that is earned through the exchange of services with another person, whether in the form of bitcoins, dollars, or barter;". Would income through gambling fall in that category?
What is the status on the tax implications and the legality of online gambling with bitcoin? There are a few places online that let you play poker etc. with bitcoins. Is that legal in the US? How are winnings taxed?
The wiki(https://en.bitcoin.it/wiki/Tax_compliance#Are_my_bitcoins_ta...) talks about "Income that is earned through the exchange of services with another person, whether in the form of bitcoins, dollars, or barter;". Would income through gambling fall in that category?