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Title: TAXES: Income from renting computer to Nicehash Post by: geekcryptogal on January 14, 2018, 05:41:33 PM If I use Nicehash, I am not mining myself but renting my computer out for use.
Therefore for tax purposes, wouldn't I report this under "Other Income" (rental income.. same as renting a home or office space out to a business)? That sort of income is not subject to self employment taxes. Title: Re: TAXES: Income from renting computer to Nicehash Post by: zeilercd on April 05, 2018, 12:29:52 PM https://ttlc.intuit.com/questions/4138638-how-do-i-report-cryptocurrency-mining-income
basically you can claim as other income each day you get deposit from mining to your wallet - or you can claim as self employed income... ALSO when you Cash the coin out to your currency to spend it (USD whatever - buy something with the coin) you pay capital gains/losses on value of coin at that time (short term less than a yr or longer than a yr depending how long you waited to spend the coin from when it was mined) Title: Re: TAXES: Income from renting computer to Nicehash Post by: dagarair on April 05, 2018, 01:29:58 PM you have to report capital gains on it. IRS is very specific now.
Title: Re: TAXES: Income from renting computer to Nicehash Post by: dhouse on April 05, 2018, 03:45:48 PM i freaking hate the way crypto is taxed. It's absurd in so many ways.
Title: Re: TAXES: Income from renting computer to Nicehash Post by: B1tUnl0ck3r on April 05, 2018, 03:54:22 PM 13 days left check with a certified accountants... as you may be distributed to a friend of Lois Lerner.
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