Topic: How do the new IRS rulings affect me as a potential minor miner? (Read 698 times)
So what should I keep? Obviously any recipes that are business related, but should I keep records of transactions?
Ask H&R Block, they can help you for probably $50.
Any guides to doing that? I heard on reddit(posted there as well) that I must file using a CPA schedule C if my income is over $6,100, as I am under 65 & not blind.
The coinbase transaction sends you coins from the network, so this must be reported as income.
When you dispose the coins, you must report capital gains (or loss).
When you dispose the coins, you must report capital gains (or loss).
I would like to get into mining, but since the IRS released this today idk if I want to anyway? How, if I can, legally mine now as a minor? How do I report self-employment taxes and other applicable taxes?
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