If you earn cryptocurrency by mining, it counts as part of your regular taxable income. You owe tax on the entire fair market value of the crypto on
the day you received it, at your regular income tax rate.
Crypto mining can be taxed as either a Hobby or a Business
To post as a Hobby:
- Wages & Income
- Less Common Income
- Next to Miscellaneous Income 1099-A, 1099-C
- Select Other Reportable Income
- Answer Yes on Any Other Taxable Income?
- Continue through the interview
To Post as a Business:
If you have a business, it can be entered directly into the business income
section of the return.
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