Valentino
Fri May 24 2024
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5 answers
855
Is crypto mining hobby income?
Could you please clarify for me whether cryptocurrency mining could be considered hobby income? I'm interested in understanding the tax implications of this activity. Could mining cryptocurrencies potentially generate taxable income, even if it's done primarily for personal interest? Would the value of the mined coins, as well as any expenses related to mining, factor into the calculation of potential taxable income? Additionally, are there any specific tax rules or regulations that apply to cryptocurrency mining as a hobby? Thank you for your assistance in clarifying this matter.
