Replying to Avatar Bertha

Pretty sure it’s a yes, the IRS classes anything mined as income, on the day you receive it. Then it falls into capital gains when you sell. If your mining is under a business then you can deduct costs (ASICs) but if you’re a pleb you can’t.

The IRS is not in a pleb miners corner.
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TBH 11mo ago

That sounds right, but I don’t have to like it.

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Bertha 11mo ago

Agree, common sense is that this is obviously unfair. I’m surprised KYC free sats direct from larger miners doesn’t exist as I think most people would pay a premium vs exchanges. I’ll mine whatever the cost on principle but the tax laws are (intentionally?) limiting.