Crypto and Bitcoin Taxes in the US: 2020 Edition Coinbase

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NiceHash - buy & sell hashing power

NiceHash offers you to buy or sell hashing power directly, no contracts, no limitations, pay-as-you-go if you're a buyer and be-paid-as-you-go if you're a seller. Why bother renting rigs, when you can rent hashing power? NiceHash brings more to renters and rig owners. Visit https://www.nicehash.com today! Simply create order and you are already mining your favorite coin or point your rig to our stratum server and you are already earning bitcoins.
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CryptoCurrencies

We're Crypto Reddit's Fiji water in a desert of censorship and agendas. Arguably Reddit's best source for uncensored cryptocurrency news, technicals, education, memes and so more!
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Easiest way to do US taxes for bitcoin mining (x-post from /r/Bitcoin)

submitted by ASICmachine to CryptoCurrencyClassic [link] [comments]

How fake news in crypto are spread: Kazakhstan imposes 15% tax on crypto mining. They all got it wrong. (x-post from /r/Bitcoin)

How fake news in crypto are spread: Kazakhstan imposes 15% tax on crypto mining. They all got it wrong. (x-post from /Bitcoin) submitted by ASICmachine to CryptoCurrencyClassic [link] [comments]

The lesson from Bitcoin Pizza day is to use and replace. If i use mine, I buy back twice the amount that I spend. I call it, the future me tax.

The lesson from Bitcoin Pizza day is to use and replace. If i use mine, I buy back twice the amount that I spend. I call it, the future me tax. submitted by OffBrandTonyStark to Bitcoin [link] [comments]

Kazakhstan Proposes 15% Tax on Bitcoin Mining to Help Combat Coronavirus

submitted by raaner12 to Altcoinss [link] [comments]

Kazakhstan Proposes 15% Tax on Bitcoin Mining to Help Combat Coronavirus

Kazakhstan Proposes 15% Tax on Bitcoin Mining to Help Combat Coronavirus submitted by Ranzware to BitNewsLive [link] [comments]

Kazakhstan Proposes 15% Tax on Bitcoin Mining to Help Combat Coronavirus (current BTC/USD price is $11,369.37)

Latest Bitcoin News:
Kazakhstan Proposes 15% Tax on Bitcoin Mining to Help Combat Coronavirus
Other Related Bitcoin Topics:
Bitcoin Price | Bitcoin Mining | Blockchain
The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools.
submitted by coinsaladcom to CoinSalad [link] [comments]

Critics blast Bitcoin Cash mining tax as a 'hostile takeover'

Critics blast Bitcoin Cash mining tax as a 'hostile takeover' submitted by DecryptMedia to CryptoCurrency [link] [comments]

07-13 15:55 - 'yes, a crypto person can avoid taxes by using anonymous crypto like Monero but if you use Bitcoin and didnt mine or buy it anonymously then its alread tied to your identity by being linked to an ip address of a device you...' by /u/Bloodsport121 removed from /r/Bitcoin within 88-98min

'''
yes, a crypto person can avoid taxes by using anonymous crypto like Monero but if you use Bitcoin and didnt mine or buy it anonymously then its alread tied to your identity by being linked to an ip address of a device you own.
99% of people will be forced to pay taxes on their crypto gains but a small portion of early adopters or those who deceptively trade in privacy coins can avoided being taxed if they never associate their real identity or any device associated with their identity to their crypto.
'''
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Author: Bloodsport121
submitted by removalbot to removalbot [link] [comments]

Bitcoin mining is forcing me to go solar power. I just installed solar panels to run my miners during the day. Not only does my house get heated but I cut the mining cost by 75%. Why? It's not just the cheapest form of energy, but I get rid of the grid-transfer cost and tax (=75%!)

Bitcoin mining is forcing me to go solar power. I just installed solar panels to run my miners during the day. Not only does my house get heated but I cut the mining cost by 75%. Why? It's not just the cheapest form of energy, but I get rid of the grid-transfer cost and tax (=75%!) submitted by candese to Bitcoin [link] [comments]

Bitcoin Cash Will Avoid Chain Split as Mining Tax Dies

Bitcoin Cash Will Avoid Chain Split as Mining Tax Dies submitted by cryptobriefing to btc [link] [comments]

How Bitcoin Cash mining tax will affect Bitcoin halving

How Bitcoin Cash mining tax will affect Bitcoin halving submitted by SaneFive to BitcoinMining [link] [comments]

Taal rejects proposal for Bitcoin Cash mining ‘tax’

Taal rejects proposal for Bitcoin Cash mining ‘tax’ submitted by cryptorebel to bitcoincashSV [link] [comments]

Billionaire Bitcoin Mining Investor Frank Timis Paid Just $44 in Taxes

Billionaire Bitcoin Mining Investor Frank Timis Paid Just $44 in Taxes submitted by cryptoallbot to cryptoall [link] [comments]

Bitcoin Mining and Taxes

So, I know this is probably a shot in the dark, but I wanted to get the opinions of others on how they have addressed this concern. So we mine cryptocurrency, it is not a "job" so I am not self-employed. I am not using it for any transactions, so there is no taxation of that. I have not converted the virtual currency into what is considered legal tender in the US....So at what point is this an issue/concern?
Last thing anyone wants it to be audited or be slapped with backtaxes due to ignorance of the tax bi-laws of their respective country.
** NOTE: Please avoid soapboxing on your stance on taxes. Yes, I understand some people do not agree with them but am asking so that we can have a legitimate discussion on the matter.
submitted by Ark161 to NiceHash [link] [comments]

Billionaire Bitcoin Mining Investor Frank Timis Paid Just $44 in Taxes

Billionaire Bitcoin Mining Investor Frank Timis Paid Just $44 in Taxes submitted by n4bb to CoinPath [link] [comments]

Billionaire Bitcoin Mining Investor Frank Timis Paid Just $44 in Taxes

Billionaire Bitcoin Mining Investor Frank Timis Paid Just $44 in Taxes submitted by leftok to atbitcoin [link] [comments]

Billionaire Bitcoin Mining Investor Frank Timis Paid Just $44 in Taxes

Billionaire Bitcoin Mining Investor Frank Timis Paid Just $44 in Taxes submitted by Ranzware to BitNewsLive [link] [comments]

Critics blast Bitcoin Cash mining tax as a 'hostile takeover'

Critics blast Bitcoin Cash mining tax as a 'hostile takeover' submitted by SaneFive to btc [link] [comments]

Bitcoin Cash to Avoid Chain Split Over Controversial ‘Mining Tax’

Bitcoin Cash to Avoid Chain Split Over Controversial ‘Mining Tax’ submitted by n4bb to CoinPath [link] [comments]

BitcoinMeister - Bitcoin mining in NY! Lots of coinjoining! Fiat realm tax nightmare, South Korea, BTC Talmud, Q&A!

BitcoinMeister - Bitcoin mining in NY! Lots of coinjoining! Fiat realm tax nightmare, South Korea, BTC Talmud, Q&A! submitted by Yanlii to cryptovideos [link] [comments]

TAAL REJECTS PROPOSAL FOR BITCOIN CASH MINING ‘TAX’ |

submitted by thacypha to bitcoinsv [link] [comments]

Actions by the Bitcoin Cash and Ethereum community members seem to overrule Proof-of-Work miners’ outrageous proposals like mining tax and ProgPow. With most from China, does this mean their reign is over?

Actions by the Bitcoin Cash and Ethereum community members seem to overrule Proof-of-Work miners’ outrageous proposals like mining tax and ProgPow. With most from China, does this mean their reign is over? submitted by Kipyegonn to Crypto_Currency_News [link] [comments]

How to Report Cryptocurrency Mining & Staking Income on ... Bitcoin.tax Software Review Cryptocurrency Mining & Taxes Explained - ☕Coffee With ... Bitcoin & Cryptocurrency News - Dirty Dirty Mining, Ethereum Futures, & Thailand Taxes Bitcoin and cryptocurrency TAXES EXPLAINED! Cryptocurrency tax professional

For federal taxes, that means you pay a 15% tax on any gains, unless you make a lot of money (more than $479,000 (for married couples) or $425,800 (for individuals)), in which case you pay 20%. If the tax authority decides that your Bitcoin mining activities are a business, your tax liability may be reduced by tax deductions and credits for business expenses. If the IRS regards your mining as a hobby, these options are not available. Cloud mining of cryptocurrencies is a process that is considered an income. This process is a taxable ... The reason that buying and selling crypto is taxable is because the IRS identifies crypto as property, not currency. As a result, tax rules that apply to property (but not real estate tax rules) transactions, like selling collectible coins or vintage cars that can appreciate in value, also apply to bitcoin, ethereum, and other cryptocurrencies.. To no one’s surprise, the IRS isn’t kidding ... Do you pay taxes on Bitcoin mining? In general, all income or rewards received by a taxpayer in excess of $400 generated from the mining of cryptocurrency must be reported to the IRS. The taxpayer must also identify whether they are a hobby or (self-employed) business miner for tax reporting purposes. Bitcoin earned through trade or by running a bitcoin exchange could fall under the “capital gains” category, like gold, and will be taxed. Bitcoins that are mined are counted as income received from the act of mining and are taxable with the expenses accrued (such as computing power) being deductible.

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How to Report Cryptocurrency Mining & Staking Income on ...

Bitcoin and cryptocurrency news - Mining is one dirty business, China can't stop ICO investing, Thailand capital gains tax, Gemini brings zcash, Ethereum futures, and much more. Mining is Dirty ... #cryptocurrency #BAKKT #Bitcoin #altcoin #binance #kucoin #coinbase #ripple #cryptocurrencynews,#xrp #bnb #neo #bakkt #fidelitydigitalassets #bitcoinprice #bitcoinnews,#bitcoinpump #bitcoindump # ... For a detailed walk-through on how Cryptocurrency mining income should be treated for tax purposes, please see our complete guide here: https://www.cryptotra... Watch live: https://ivanontech.com/live This is a bitcoin.tax review of the software. So far so good it imports 20 transactions for free if you do more. Then i highly recommend paying for it. It makes your life and taxes way easier. It ...

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