JohnB5677
Expert Alumni

Business & farm

Mining of Cryptocurrency 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, and it is taxed at your regular income tax rate.

 

Crypto mining can be taxed as either a  Business or a Hobby  You have TurboTax Self-Employed. So I consider this a business.

 

If you have a business, it will be entered directly into the business income section of the return.

You can also deduct expenses, and depreciate equipment.

 

 

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