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How I Get Ready for Crypto Mining Taxes (USA)



On this video I focus on how I put together all my transactions and bills to get able to file my taxes for crypto mining within the US. I showcase CoinTracking.information – my favourite web site to trace crypto mining earnings and buying and selling.

Web site Used In This Video:
▶️ CoinTracking Referral Hyperlink:

GPURisers How To Begin A Cryptoforex Mining Enterprise:
▶️

Different Useful Crypto Tax Assets (US):
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Hyperlinks to assist me:
▶️ Purple Fox Crypto Discord:
▶️ Superior Miner Referral Hyperlink:
▶️ Hive OS Referral Hyperlink:
▶️ CoinTracking Referral Hyperlink:

Video Chapters:
00:00 Making ready for Crypto Mining Taxes
00:20 Crypto Mining Transactions & Bills
01:05 Gathering Crypto Transactions with CoinTracking.information
01:32 Manually Including Transactions
03:02 Routinely Including Transactions
04:13 Different Options of CoinTracking.information
04:33 Producing a Crypto Tax Report
05:16 CoinTracking.information Pricing
06:09 Monitoring Mining Bills
06:22 Gathering {Hardware} Expense Price
07:05 Gathering Electrical Expense Price
09:02 Examine GPURisers YouTube Channel for Extra
09:44 Studying From Your First Yr Submitting Crypto Mining Taxes

Crypto Miners:
📺 BitsBeTrippin:
📺 Voskcoin:
📺 Purple Panda Mining:
📺 Hash Raptor:
📺 SerpentXSF:
📺 SavageMine:
📺 Guntis Vitolins:
📺 The Lifetime of a Miner:
📺 ChumpChangeXD:
📺 Altered Part:
📺 The Hobbyist Miner:
📺 Mining Workplace:

Observe me:
✅ Twitter:

Mining Rig Components I Use:
▶️ 6-GPU Body:
▶️ 8-GPU Body:
▶️ Risers:
▶️ Risers:
▶️ PCIe Splitters:
▶️ MOBO:
▶️ CPU:
▶️ PSU:
▶️ RAM:
▶️ HDD:
▶️ Check Bench:
▶️ PDU:

Develop Tent Setup:
▶️ Previous Tent:
▶️ New Tent:
▶️ Inline Fan:
▶️ Ducting:

Energy Meter:
▶️ DROC AC Energy Meter:
▶️ SpaceGoats DROC Energy Meter Construct:

As an Amazon Affiliate I earn from qualifying purchases.

#CryptoMining, #MiningTaxes, #CryptoTaxes

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19 Comments

  1. Hey, I really like you guys content in regards to mining.. my question is, why do you pretend to know anything about taxes? You are costing people small fortunes getting tripple taxed for you mining income.
    Let me clue you in… the IRS ONLY HAS JURISDICTION OVER FEDERAL RESERVE DOLLARS.

    If your dog has fooking puppies, you don't owe the IRS dog taxes… GET IT?

    If you grow potatoes, how many potatoes do you owe the IRS?

    If you create a line of code in an aglorithim, HOW MANY TAXES DO YOU OWE?

    Please for the love of all that is crypto, PLEASE STOP talking about taxes. You can pay all the extra taxes you want, but don't go spreading that nonsense on to new miners.

    You don't owe the IRS ANYTHING from mining until you convert your crypto to US dollars.

    Swapping from one coin to another on an exchange technically involves a sale through the US dollar and is taxable.. but NOT MINING and holding.

  2. The video helped a lot! Just curious what the other rows were in that excel document? Trying to use yours as a template and didnt want to miss any key info. Thanks.

  3. What's the point of a decentralized currency if you're paying f**** taxes to a government institution. Just refuse to pay taxes on crypto. They can't lock us all up.

  4. What If you cloudmine by buying hashrate and get a reward. Guessing price payed for hasrate is a buisness expense and goes against reward until you break even?

  5. I never expected that Dillion_1uptrade on instagram would ever turn to reply i have been constantly following him for 9months and always good reviews about bitcoin and NFT with trading signals, Indeed his a blessings to this generation.

  6. You cant pay any tax on your portfolio until you have sold the coins then and only then can you calculate your profit if any from buying price to selling price (crypto income) minus transactions fees.

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