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Go to the IRS website to search and read Notice 2014-21 (IRS Virtual Currency Guidance). Based on your review of Notice 2014-21 (1) Identify two

Go to the IRS website to search and read Notice 2014-21 (IRS Virtual Currency Guidance).

Based on your review of Notice 2014-21

(1) Identify two tax consequences that may result from dealing in convertible virtual currency

and

(2) Provide one scenario to support the potential tax consequences.

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