After receiving mining rewards mentioned above, I have accumulated ETH as an asset held by the partnership. So for example, let's say that I received 0.1 ETH each month, then I ended up with a report (from Bitcoin.tax) that shows the value of that reward in USD as income. Per IRS Guidelines, I have kept track each year of the earnings from mining as self-employment income denominated in US Dollars (calculated using Bitcoin.tax). In addition to the contributed coins (contributed property), I also purchased computer equipment for the business, which has been used for mining. ![]() I used the market value of each token at the time of transfer to my business as a capital contribution. Initially, I contributed cash as well as cryptocurrency to the business. My business is set up as a 2 member partnership with just myself and my wife as partners (Form 1065 for tax purposes) I am running into some confusion and hoping to get some answers. ![]() I use QuickBooks to track my small business activity, which has included mining of Cryptocurrency in the last few years.
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