Are mining rewards taxable?

Are Mining Rewards Taxable?

Rewards from mining (new coins you receive for validating blocks) are generally treated as income. They may be taxable in the year you receive them, at their fair market value at that time, or when you dispose of them. The 30% VDA rate may apply. Keep records of when you received the rewards and their value. When you sell mined coins, you may have a gain (sale value minus value at receipt or cost). Consult a tax professional for your situation.