Cryptocurrency mining and income taxes - is this correct. NiceHash is the leading hub for mining and trading cryptocurrencies and the largest hashpower marketplace in the world.
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Each of these transactions are reportable and taxable.
Reddit crypto mining taxes. We make crypto mining easy. The IRS treats crypto as property so crypto is taxed very similarly to the way stocks are taxed. Cashing out for fiat paying for goods services and trading one type of crypto for another are all transactions that are considered a sale or disposition.
Posted by just now. I just want to give a shout out to Martin Hasting for posting his Mortgage Maneuver on Reddit. Im gonna use a figurative crypto A that has a value of 1 per coin.
From what I understand whatever you mine from a pool becomes taxable income as soon as you get a payout to your wallet and once you sell your coins that gets taxed as a capital gain.
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