So I'm considering doing a trial run with my tenants and letting them pay some or all of their rent in BTC.
- BTC isn't considered a currency so it's taxed as an asset under capital gains tax
- I can afford to keep some if not most of the rent in BTC and only cash out a small portion to pay the mortgage.
- Each month the tenant would visit a portal I have setup to pay their rent via BTC. They would pay the USD equivalent in BTC.
- I would offer a discount to tenants if they pay in BTC to motivate them
- I would only turn what I need back into FIAT to defer paying taxes on it immediately
Things I'm not concerned about:
- The volatility of the BTC market
What are the tax implications of accepting an asset as rent?
When are you taxed on that asset?