I don’t know anything about bitcoin.

As the title states I don’t know shit about shit when it comes to bitcoin. I have never done anything with it.

I just was curious as to how the IRS handles bitcoin. Do you claim it on your taxes as an asset, or as cash? Is there a percentage minimum that has to be claimed, or does it all have to be claimed?

It came up in a conversation yesterday, and I realized how little I know about something that can be viewed as an investment.

Thanks to anyone who takes the time to answer.