Quote from: BeerMan81 on November 23, 2017, 03:46:54 AM

Quote from: hap0py on November 01, 2017, 02:23:43 PM

In the USA the IRS defines income as occurring as soon as you have a *right* to collect the income, not when it is received. Deteemining when that occurs with different payout methods and pools (e.g. nanopool doesn't really show a list of rewards, only a growing number and a list of payouts) is proving problematic.

Anyone have real knowledge, not opinion?

Irrelevant. I think It is when you trade for FIAT. They can't really track your wallet earnings, as this is truly private in nature, but i'm sure they will know sold currency on Coinbase (for example). Could be 1099-MISC or something. We shall see.

I really wonder as I really do not see how they want to know the wallet you are making use of to mine. Like you said, I guess we have to see how this whole thing will end up working out. One thing I am sure of is that there is no way they can start tracking the funds in wallets, when I can even always change my address at any time without problem.

Where the main taxing will come into play is when one is using an exchange to convert to fiat which is why governments are now making exchanges to be tax compliant.