What the Taxes page shows US owners, what you can set and export, and what your preparer still has to check.
Intermediate
Careful: This is not tax advice. Rules differ by country. Ask your accountant.
If you are a US tax person, your portal has a Taxes page. It fills in a worksheet for your mining from what we record, so your preparer starts from figures, not from a blank page. It is a worksheet for your accountant, not a tax return, and nothing on it is filed for you.
Good to know: The Taxes tab appears only on accounts marked as US tax persons. If you file in the United States and do not see it, write to hello@firsthandbitcoin.com.
The top of the page
A year selector: choose a past year, or the current year so far.
Print or save as PDF: saves the whole page as one document.
Four figures: Mining income, Deductions, Net profit or Net loss, and Self-employment tax, which is an estimate.
The sections
Section
What it shows
Schedule C (Profit or Loss From Business)
A line-by-line table to copy into the form or into tax software.
Form 4562 (Depreciation and Amortization)
The depreciation lines for your machines.
Your machines
Each machine with the date bought, the date in service, its cost, the bonus and the deduction for the year.
Your choices for the year
Figures and options you can set yourself.
Every payout, dated and valued
Each payout with its date, type, BTC amount, price and value.
What your preparer still checks
The questions the page cannot answer for you.
Your choices for the year
Three things on the page are yours to set, because only you know them:
The hosting and electricity you actually paid in the year.
Other mining costs in the year.
A box to not take bonus depreciation.
Change them and press Save and recalculate. Every table on the page updates.
What you can download
Button
Where
What the file holds
Print or save as PDF
Top of the page
The whole worksheet as one document
Download CSV
Your machines
The depreciation table, one line per machine
Payouts CSV
Every payout, dated and valued
Each payout with date, BTC amount, price and value
Worksheet CSV
Every payout, dated and valued
The Schedule C worksheet lines
What your preparer still checks
The page lists these itself, and they matter:
Whether your mining is a business or a hobby.
Whether a loss can be used against your other income.
Who owns the machines. If an LLC taxed as a partnership or a corporation owns them, the same figures go on that entity's return.
Selling bitcoin. Sales are reported separately, from your wallet and exchange records. The portal does not see them.