$1200 to bitcoin
Next, you determine the sale IRS will likely expect to crypto activity and report this information to the IRS on.
can you move bitcoin from coinbase to binance
I Mined Bitcoin for 1 Year (Honest Results)If you've received cryptocurrency from staking or mining, your cost basis is equal to the fair market value of your rewards at the time of receipt. How do I. Cost basis = Purchase price (or price acquired) + Purchase fees. Capital gains (or losses) = Proceeds ? Cost basis. Let's put these to work in a simple example. Cryptocurrency mining rewards are taxed as income upon receipt. US-based crypto miners can anticipate paying crypto mining tax on both.
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