johnnova

Interesting situation you laid out. Not sure how to answer confidently.

We could go in circles with that. But really, it’s up to each person how they interpret BTC for taxes. Check the Canadian Income Tax Act for the real definitions. You don’t want surprises during an audit.

Exactly, whether you cash out BTC for CAD or use it for services, it counts as income. Good move reporting it. You can also deduct your mining expenses, like equipment depreciation and electric bills.