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Business & farm
since bitcoin is FIFO, aren't most short term in nature, so it would not matter capital vs. ordinary from a simplistic standpoint unless you specifically moved coins and held separately and designated them investment, I understand they will be ordinary income for a miner. The IRS is fairly clear about identification requirements for brokers so I would think the same rules apply. Proper segregation and no commingling are inherent.
**I don't work for TT. Just trying to help. All the best.
***Say "Thanks" by marking as BEST ANSWER and clicking the thumb icon in a post and that I solved your question
**Mark the post that answers your question by clicking on "Mark as Best Answer" I am NOT an expert and you should confirm with a tax expert.
***Say "Thanks" by marking as BEST ANSWER and clicking the thumb icon in a post and that I solved your question
**Mark the post that answers your question by clicking on "Mark as Best Answer" I am NOT an expert and you should confirm with a tax expert.
‎June 4, 2019
12:16 PM