There are lots of variations on this question, but I'm still not clear on the best method for accounting for both mining AND sales of bitcoin.
1) It sounds like the sale of bitcoin would be recorded under other income, like the sale of a stock or bond?
2) How is the mining of bitcoin accounted for when entering my return online?
3) Is mining based on how much has been mined to date or how much remains after any sales?
4) What percentage of income from bitcoin should be set aside for taxes?
5) If this is a hobby and I am employed, am I still subject to self-employment tax?
I know that's a lot of questions. Thanks!
