dbtaxsolutions
Level 5
12-09-2020
07:58 PM
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Mining is definitely schedule C, it is stated on IRS letter Notice 2014-21.
This Forsage is sort of mining for virtual currency, but it is done through smart contracts. There is definitely material participation involved. It is a business with intention to profit. The income is 2 parts, earned income when it is earned subject to SE tax, and capital gains when the asset is set to appreciate in value/or capital loss if it depreciates.