Bitcoin Forum

Bitcoin => Legal => Topic started by: Yoga4 on February 10, 2016, 06:00:35 PM



Title: Can Someone Help Me Identify A Business Code For Taxes For Trading Bitcoin?
Post by: Yoga4 on February 10, 2016, 06:00:35 PM
I am doing my taxes, and in the state of Massachusetts, you cannot use miscellaneous business code 999999 and e-file which is what I wanted to do. If I had a business last year that traded, invested, and offered compliance services, does anyone know what business code I could use? I was thinking of just going under a financial investments code but I'm not sure if any of you might know what I could do. The reason again why I can use 999999 is because my state wont let me e-file online using that code.


Title: Re: Can Someone Help Me Identify A Business Code For Taxes For Trading Bitcoin?
Post by: sgravina on February 23, 2016, 04:07:16 PM
I live in Massachusetts.  When I was mining bitcoins I used: 518210: Data processing, hosting, & related services

I no longer mine bitcoins so as I sell them I am reporting my profit as capital gains.