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This tracks. Being transparent if you're audited will be key. You're trying to keep track of things, and trying to pay what you owe based on the information you
by tldrthelaw 5y ago
This tracks. Being transparent if you're audited will be key. You're trying to keep track of things, and trying to pay what you owe based on the information you have.
Just as a heads up for other folks reading this, having a basis of $0 isn't the same as paying tax on the mined value at ordinary income rates (cap gains rate differs from ordinary income rates). Mined coins and bought coins are treated differently owing to how they're acquired.