It sounds like no taxes would be collected at this point according to this:
"Do I need to file or pay taxes if I own Bitcoins?
Not if you bought Bitcoins or any crypto-currencies with your own money. However, if you traded, sold, or used any to purchase something, then you might. If you were given Bitcoins as payment, as a salary, or as a gift/donation, this is income and should be reported as any other income you earn.
If you sold any, spent any or even traded one coin for another, then this is a tax event. This probably means you either gained or lost some money on the of the coins you just disposed. Gain or loss, you are supposed to include the sale on your tax forms and include the profit or loss you made. This is taxable as capital gains."
You don't itemize your property on any tax form. If I bought AAPL stock some time in the past, but haven't (yet) sold it, I don't report that position to the IRS.
"Do I need to file or pay taxes if I own Bitcoins? Not if you bought Bitcoins or any crypto-currencies with your own money. However, if you traded, sold, or used any to purchase something, then you might. If you were given Bitcoins as payment, as a salary, or as a gift/donation, this is income and should be reported as any other income you earn. If you sold any, spent any or even traded one coin for another, then this is a tax event. This probably means you either gained or lost some money on the of the coins you just disposed. Gain or loss, you are supposed to include the sale on your tax forms and include the profit or loss you made. This is taxable as capital gains."
- https://bitcointaxes.info/faq
But would it need to be marked on the tax form as owned property? At what value?