All-
I'm having trouble finding information on this. My Bitcoin earning in the past were very small but now my short term selling income is significant. In the United States I want to self report that I obtained this income through mining and selling on Coinbase. I know Coinbase can care less about the US Government but my bank that has direct deposit setup with Coinbase will either tell my government or my government will know from auditing me which has happen twice already within the last seven year. Please keep this on topic I usually file my taxes early and want to the right thing.
How do I self report?
1. Fill out a 1099-G and treat as short term capital gains?
2. Treat it as undocumented W2 income?
3. Are mined coins treated differently from being bought directly? In an investment scenario you only pay the taxes on the profit from the initial cost.
Thanks
Bluelogic
Topic: Paying 2013 taxes on Bitcoin earnings (United States) (Read 784 times)
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