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Crypto Taxes Made Happy: The Definitive How-To Guide For Preparing Cryptocurrency Tax Returns In The United States?
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I've put my book,
Crypto Taxes Made Happy: The Definitive How-To Guide For Preparing Cryptocurrency Tax Returns In The United States
https://www.amazon.com/Crypto-Taxes-Made-Happy-How-ebook/dp/B07BPSK2VK/
on Amazon and gotten them to offer the digital version for free if anyone can use it for any assistance on items they are still unsure about.
My team is also available if anyone needs us as a service.
Under 20 days left in tax season! ;)
I've put my book,
Crypto Taxes Made Happy: The Definitive How-To Guide For Preparing Cryptocurrency Tax Returns In The United States
https://www.amazon.com/Crypto-Taxes-Made-Happy-How-ebook/dp/B07BPSK2VK/
on Amazon and gotten them to offer the digital version for free if anyone can use it for any assistance on items they are still unsure about.
My team is also available if anyone needs us as a service.
Under 20 days left in tax season! ;)
Hi, Crypto mining is taxes as self employment income if you are doing it individually and not through an entity (which isn't always recommended, only on case by case basis). Self employment income goes on a Schedule C. So you claim as revenue the amount the coins were worth at the time you mined them totaled up for the year. Then you can deduct as expenses anything directly related to that mining (the portion of electricity used, the space if it is exclusive, any educational or travel expenses pertaining to your mining operation and possibly some other items).
Note, then you have the coins that you mined and when you sell or trade them (or use them to buy goods or services) you will have a capital gain or loss based on the value of the coins at the time you mined them and the value at the time you did one of the above.
Let me know if you have any clarification questions.
Also, I've put my book,
Crypto Taxes Made Happy: The Definitive How-To Guide For Preparing Cryptocurrency Tax Returns In The United States
https://www.amazon.com/Crypto-Taxes-Made-Happy-How-ebook/dp/B07BPSK2VK/
on Amazon and gotten them to offer the digital version for free if anyone can use it for any assistance on items they are still unsure about.
My team is also available if anyone needs us as a service.
Under 20 days left in tax season! ;)
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