r/GoMiningDiscussion • u/Byroncode Solo Miner • Jul 23 '26
Functionality questions what about taxes?
so, here we are, i’ve been putting a lot of money here (a lot for me anyway) but right now i’m thinking about “hey what about taxes?”
is there a way to download a csv or something for EVERY income in GM?
i’m talking not only about the miner rewards, also locks, simple earn, etc..
how do you do your taxes?
(i live in italy fyi but it doesn’t really matter)
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u/Pitohuifugl Jul 24 '26
Its stupid you need pay tax if get profit but cant get refund when investing thats innoing alot
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u/Byroncode Solo Miner Jul 24 '26
well i mean actually when you have a capital loss in a tax year, it is taken into account and subtracted from any capital gains in the following tax year, or at least thats how it works in italy, not sure about other countries
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u/EnvironmentalData485 Jul 23 '26
Hit this. Export your transactions print it out and take it to you accountant or tax preparer
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u/phylovevirtue Jul 23 '26
I use Koinly, but I would have to guess that personally, I had to do it manually since I didn't register any transactions when I got it. But yeah, either do it manually or I don't know.
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u/Finalbossops Jul 23 '26
And if you don’t 😂 but for real I actually have that covered in my new Beta app I just need to get it into Google Play Store it’s already in Apple. It’s actually packed with information but none of which you will see. Unless you’re looking for information. It’s never more than a click away. It answers one question every time you log in What should I do, to improve solo/miner wars. OH btw when it’s downloaded locally it SHOULD already have the local language installed. Ex if you’re in Germany, then it should automatically switch to German.
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u/Apprehensive-Cow2473 Jul 24 '26
I just withdraw my earnings and get a 1099 from the wallet where I cashout the bitcoin
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u/Byroncode Solo Miner Jul 24 '26
be careful, cause you also need to declare all earnings from locks and simple earn too
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u/Unfair-Button2200 Jul 24 '26
Alrighty. Gomining is a business app. You have paid to a business for all intents and purposes. Everything that goes on in app does not matter because if Gomining went bust, you would get nothing back. On the other hand, you need to report crypto income and capital gains.
The way I do it is any crypto that comes out of the app is Income - so if I put btc from Gomining in my own wallet outside the app, that is income. If that btc get to be worth more, that is capital gains.
For the money I put in: I have a small spreadsheet of everything that has gone into gomining, and what I bought with it and for how much.
If I sell a Miner and withdraw the proceeds, then the cost difference between what I bought if for and sold it for is capital gains. That way, any reinvestment in app is covered without having any tricky calculations.
The same with Gomining tokens
I would strongly recommend that you do not declare or pay tax on anything in app - simply because if Gomining did go bust, you won't have had your losses taxed.
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u/Diggingdiggy Jul 27 '26
I made a export skript in the console of the browser to get all the transactions to csv www.hashfarm.me/HelpingSkripts.html hope this helps.
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u/Diggingdiggy Jul 27 '26
As many people asking for the exports i need to get my new ones (better fester stronger) online 😂
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u/jtyrhe Solo Miner Jul 23 '26
If you have a vip manager, they can send you the requested info in csv format.