Now you can buy a house with bitcoin. The catch?

[MadJack]

The seller would have to accept bitcoin as form of payment. DUH!

Did that seriously have to be approved by someone other than the buyers/sellers?

Good luck finding a bitcoin buyer or seller.

 

[MadJack]

And that's assuming the house you are buying has no mortgage attached. Not sure how that would work because I don't think banks are taking bitcoin to satisfy mortgages being paid off.

These are just my own random thoughts about this breaking news. I have no clue what I'm talking about.

 

[MadJack]

Could I avoid the capital gains tax on bitcoin by using bitcoin to buy a house? BBC? Anybody know?

 

[Bombs]

Could I avoid the capital gains tax on bitcoin by using bitcoin to buy a house? BBC? Anybody know?

No because according to current tax law using BTC for a purchase of a real world good is the equivalent of realizing a gain.

 

[MadJack]

No because according to current tax law using BTC for a purchase of a real world good is the equivalent of realizing a gain.

Thanks! :0008

Yeah, I figured but since a 2nd home would be an investment property maybe they would let the taxes slide until the home was sold? That's what I was thinking.