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RE: The Income Tax Implications of Mining Bitcoin
I've been looking for the answer to this question and that's how I assumed it would work. So this would be a way to achieve earned income that qualifies for roth ira?
Mining cryptos would result in earned income.
I guess steemit dollars and exchange referalls work the same way?
Earning Steemit dollars by writing posts would work the same way as exchange referrals (both result in ordinary income to the taxpayer). The timing on the articles would be when the amount is rewarded (7 days) whereas the timing on the mining would be when the coin is procured/is available to withdrawal.
2018 should be an interesting year.