If you have bitcoins the rules are pretty strict although I’ve no idea how they enforce it
- If you buy and sell they are like any other assets so short term and long term gains
- Since cryptocurrency is property rather than a financial asset. Every time you buy something there is a taxable event.
- If you are mining the day you create your coin, you have created income. Obviously there was cost to create it. So if it’s a separate entity you can deduct that. But it’s a hobby probably not it’s lumped into the standard deduction
