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Miners typically get their funds as income, not necessarily cap gains.
by X6S1x6Okd1st 5y ago
Miners typically get their funds as income, not necessarily cap gains.
- freeone3000 5y agoIt's a gain based on your invested capital, isn't it? It's textbook capital gains. PoS, PoW, whatever.
- emteycz 5y agoNo, mining is in no way capital gains. Capital gains is asset price increase.
- X6S1x6Okd1st 5y agoOdd that you call it textbook capital gains, what textbook are you working from? It seems pretty clearly like income to me.
- barbecue_sauce 5y agoUnder that definition, almost all income would be considered capital gains.
- vel0city 5y agoA baker buys an oven which they use to bake bread. They sell the bread for dollars. Is that capital gains?
- vmception 5y agoMining is reportable as ordinary income in the US. Cryptocurrency earners have to report ordinary income taxes as well as capital gain/loss taxes. Its not that hard, less than ideal, its also easy to immediately convert to USDC or fiat automatically, or find other deductions to reduce or eliminate the tax burden.