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Author: Admin | 2025-04-27
May also be liable for CGT when you sell or dispose of the cryptocurrencies you have mined. CGT is worked out using the difference between the acquisition cost and the selling price of the cryptocurrencies.To calculate CGT, make sure to keep records of the acquisition cost and the date of acquisition for each cryptocurrency you mine. This information will help you determine the coins’ base cost when you sell or dispose of them.We’ve covered a lot of ground on crypto mining taxes, but hopefully, it feels a bit clearer now. Remember, the key takeaway is understanding whether your mining falls under a hobby or a business activity. This will determine the tax rules that apply to you.Don’t go it alone! If you’re looking for expert guidance the Crypto Tax Degens community is here to help. Join our network of like-minded crypto enthusiasts and gain access to the insights of crypto tax expert Andy Wood. Join The Crypto Tax Degens CommunityWe’ve covered a lot of ground on crypto mining taxes, but hopefully, it feels a bit clearer now. Remember, the key takeaway is understanding whether your mining falls under a hobby or a business activity. This will determine the tax rules that apply to you.Don’t go it alone! If you’re looking for expert guidance the Crypto Tax Degens community is here to help. Join our network of like-minded crypto enthusiasts and gain access to the insights of crypto tax expert Andy Wood.
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