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/biz/ - Business & Finance

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28612756 No.28612756 [Reply] [Original]

how to file/pay taxes on mined/staked assets? how to explain asset increasing out of thin air?

>> No.28612931

>>28612756
assuming you're in the US because you're dumb enough to mine without looking into that first
if you don't want to be harassed by the IRS, you mark it as a sale of private property with a cost basis of $0.
if you haven't sold any, then you don't have to report any income yet.

>> No.28613190

>>28612931
>cost basis of $0
If you're mining then you have costs though. I wonder if you can call it hobby income? Why not? Otherwise I'd probably do a schedule C and deduct expenses.

>> No.28613392

>>28612756
left>right

>> No.28613462

>>28613392
this

>> No.28613535

>>28612756
Literally just get an accountant anon and save the hassle. Don’t act like you’re broke.

>> No.28613602

ima gonna buy bof' dems

>> No.28613658

>>28612756
It's taxed as regular income.

>> No.28613665

>>28613392

obviously

>> No.28613690

booba gf

>> No.28613708

>>28613392
>>28613462
its the same person idiots