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<p>[QUOTE=&quot;Vess1, post: 360190, member: 13650&quot;]It doesn&#039;t sound like you have anything to worry about.&nbsp; But for the record, purchasing more coins with the money is certainly a net gain.&nbsp; That is increasing your assets.</p><p>&nbsp;</p><p>&nbsp; The following is just an example.</p><p>&nbsp;</p><p>&nbsp; FWIW, if you have a credit card with a 1k balance.&nbsp; You stop paying it for a long time.&nbsp; The interest and fees rack up for several years.&nbsp; They write it off and it goes to a collection agency.&nbsp; Now the CA says you owe 2k to them but they&#039;re willing to settle the debt for 1k.&nbsp; Essentially, the original amount of the debt you owed.</p><p>&nbsp;</p><p>&nbsp; You pay them back the 1k that you spent.&nbsp; The 1k worth of fees and interest that they canceled for you is classified as net income!&nbsp; They have to report it to the IRS and you get a 1099-C in the mail.&nbsp; You have to pay taxes on the 1k that was cancelled because that was a gain for you.&nbsp; Even though you never got any of that money or spent it.&nbsp; It was an obligation you had that was created by their TOS and they used it as a write off.&nbsp; Which also benefited you financially, so you pay taxes on that amount.</p><p>&nbsp;</p><p>&nbsp; Just saying, the definition of income can be pretty loose.[/QUOTE]</p><p><br /></p>

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