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H.R. 5635 (116th): Virtual Currency Tax Fairness Act of 2020


We don’t have a summary available yet.

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Jan 16, 2020.


Virtual Currency Tax Fairness Act of 2020

This bill excludes from gross income, for income tax purposes, up to $200 of gain from the disposition of virtual currency in a personal transaction. The bill defines virtual currency as a digital representation of value that is used as a medium of exchange and is not otherwise currency.