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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.
March 1, 2023
10:39 AM
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Credits and deductions
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.
March 6, 2023
4:17 PM