A taxpayer purchased 10 coins of virtual currency (X coins) for $1,000 in March 2020, and in May 2022 sold five of the c
Posted: Wed Jul 06, 2022 6:23 am
A taxpayer purchased 10 coins of virtual currency (Xcoins) for $1,000 in March 2020, and in May 2022 sold five of thecoins for $2,500. The taxpayer’s gain on sale would be what amount?A. $0 B. $1,000 C. $2,000 D. $2,500