do you use some type of accounting/excel spreadsheet to account for all these deductions so that at year end it can easily be allocated? I am curious does a business make the numbers easier because I heard that way one can deduct more.
One more topic of thought. If you held the ether and it does sky rocket let say to $1,000 in the near future and you sold it or exchanged it what happens? Is it a capital gain during that year you sold it or nothing gets documented because you mention you had to document it when you mined it and held onto it.
Thanks.
RE: Mining for cryptocurrencies and why the IRS may owe you a refund.