[sergeantdave]

“Yes. The IRS requires any - emphasis on ANY - bitcoin transaction be reported to the IRS.”

Wrong. If you buy BTC and hold, there are no reporting requirements. The IRS is only interested in capital gains or losses.

[ScubaDiver]

Dude, before you scream 'WRONG,' maybe take the time to read the question I was replying to. It wasn't inquiry about buying cryptocurrency. It was a question about buying things with cryptocurrency.

Andy yes, the IRS demands any cryptocurrency transactions be reported to them, no matter how small.

And, no, the IRS is NOT 'only interested in capital gains or losses.' You will only owe taxes on the gains. But, you have to report all transactions.