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Jeremiah converted $2,000 into Bitcoin in November 2021. In October 2022, when the value of his holding had increased to $3,500, Jeremiah decided to purchase
Jeremiah converted $2,000 into Bitcoin in November 2021. In October 2022, when the value of his holding had increased to $3,500, Jeremiah decided to purchase a watch using Bitcoin. He spent the entire holding on the watch. How will Jeremiah report this on his tax return
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