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I'm mining Bitcoin, what does that mean for my taxes?

SOLVEDby TurboTax79Updated December 28, 2021

Include Bitcoin mining as part of your gross income, even if you think of it as only a hobby.

If you:

  • Mine your own Bitcoin, it will be taxed as self-employment income at the fair market value when you get it and as property (a capital asset) for the sale.
  • Get paid to mine Bitcoin, you have to report it as regular income like you would for any job (as an employee or self-employed, depending on your situation).

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