Mined coins are treated as ordinary income. Miners must report income from every coin they receive in a given tax year, at the market value of the coin at the time it is received. Additionally, when you trade or sell mined crypto then you realize a capital gain or loss that needs to be reported on IRS Form 8949. TaxBit specializes in optimizing taxes for miners.
Your TaxBit account allows you to upload your mining income into your Transactions page > And then download an income report from your Taxes page. You can use this export to report your mining income to the IRS.
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