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New Member
posted Mar 1, 2023 10:39:04 AM

Is purchasing crypto mining equipment as a hobby considered tax deductible?

I paid 3k for mining and am curious as to whether or not I can apply that to my taxes.

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Moderator
Mar 6, 2023 4:17:08 PM

No. You can't claim things you bought for personal use such as Hobby items. You still have to report the income, though, even if it's just a hobby.