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RE: IRS Tax Rules for Cryptocurrency in 2018

in #crypto-news6 years ago

Personal business revenue is reported on a Schedule C form to file with your 1040.

The good news about this is that the IRS just paved the way for you to deduct that nice new Macbook Pro, as well as a percentage of your home (i.e. your home office) and all utilities and insurance applicable to said sq footage of space where you do your blogging, as ordinary and necessary business expenses. Keep in mind that people that report the business use of their home are more likely to get audited, which may shed light on other cryptos you own.

If they're going to force you to play their game, make sure you're using all the rules to your advantage.

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