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If you’re actually mining, you’re better off setting up a Sole Prop and filing.
by qeternity 5y ago
If you’re actually mining, you’re better off setting up a Sole Prop and filing.
- xur17 5y agoYup. If you're mining, and it fits the definition of a "business" instead of a hobby (google for more details - there are rules around what qualifies), you don't have to actually set anything up. You just file a schedule c as part of your taxes, and can therefore deduct expenses.