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March 1, 2023
Question

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

  • March 1, 2023
  • 1 reply
  • 0 views
I paid 3k for mining and am curious as to whether or not I can apply that to my taxes.

    1 reply

    TurboTaxSusan
    March 7, 2023

    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.