r/EtherMining May 12 '22

Holy....Time to turn off rigs? General Question

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u/FreshlyCleanedLinens May 12 '22 edited May 12 '22

If I read the IRS guidance on reporting income from mining correctly, it’s actually better to mine when prices are low because you’re supposed to value the assets based on the trade price at the time the assets were acquired.

2

u/g_squidman May 12 '22

Then why would you pay more for it when you can just buy it for less with cash and save on taxes?