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/biz/ - Business & Finance

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1702160 No.1702160 [Reply] [Original]

Do I need to put anything about bitcoin or trumpcoin when I'm filing my tax return?

I probably made about $400 from buying Trumps with BTC this year. I also have an ether miner running for the past 6 months.

Does any of this need to be told to my accountant this month?

>> No.1702172

>>1702160
Yes. Treat the traded bitcoins as stock, and treat the mined bitcoins as income at fair market value at the time they were mined.

>> No.1702182

>>1702172
I don't have any bitcoin currently. I cashed out on trumps election day. With Ether I make around 40 bucks a month all using coinbase btw. Is it really necessary to report that? And how much more money will I get back in taxes by reporting them?

>> No.1702290

bump

>> No.1702300

>>1702182
you dont need to report 40$ a month desu

>> No.1702309
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1702309