I guess I might get a quick answer from this forum. My question is whether/when/how to pay tax on mined BTC. IRS requires tax for any gain even from garage sales.
Gain from garage sales?? There is an acquiring cost associated with everything, and a depreciation in the value but hardly anyone sells stuff for a profit at garage sales.
For mined bitcoin I doubt you have to do anything until you sell or trade your bitcoin and you have a lot of cost in creating them from miner cost, operational cost, electric & anything else you want to say went towards supporting your efforts
It's all bullshit - tell them to find the trillions thrown away in the middle east before bending you over