Quote from: crptowiz on December 28, 2017, 07:33:26 PM

As the tax season starts soon in United States, how is cryptocurrency earnings reported and taxed?

Individual buyers and sellers enter details on Form 8949 (Sales and Other Dispositions of Capital Assets) which then feeds a summary to Schedule D (Capital Gains and Losses). Short term net gain is taxed at 0%, 10%, 15%, 25%, 28%, 33%, 35%, or 39.6%, and long term net gain is taxed at 0%, 15%, or 20%, both depending upon one's income. Individual miners use Schedule C (Profit or Loss From Business) and Schedule SE (Self-Employment Tax) for their mining rewards and mining expenses. The net profit is taxed at 0%, 10%, 15%, 25%, 28%, 33%, 35%, or 39.6% depending upon one's income, while self employment tax could be as high as an additional 18.2%.

Businesses I'm sure have different forms.