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Get your taxes done using TurboTax
After filing my taxes & reporting crypto ordinary income from mining & rewards, I went back into TT. When it updated the income reported as Misc. Income from mining was deleted. In other words, it appears Turbo Tax has now revised its program in accordance with the court rulings. When you harvest corn you do not pay taxes on the market price at the time of harvest. You pay taxes when you sell it. According to the court crypto, as property, is to be treated the same way. It was ruled that the IRS cannot tax it both ways.
‎February 20, 2022
6:59 AM