Quote from: whoismoses on March 02, 2018, 09:08:49 PM

I pay my additional part of my bill per month out of my pocket, or as some would say my real job.

Feel free to sell your crypto to pay your bill. Let me fix the math from above...

You have a $200 electric bill (all from mining).

You sell $200 worth of crypto to pay your $200 bill.

So lets make it easy, you do this every month for a total of $2400.

Your total income (before expenses) is $10,000.

You pay taxes on $10,000 - $2,400, which is $7,600.

You basically pay zero taxes on the crypto you sold to pay for electricity..

So who is to say I didnt make 3k instead of 10k making my taxable income 600$? I know this isnt legal advice but just curious if this is really how it would work lol