I started cryptocurrency mining at the end of 2017 and was …

It depends but if you are filing a Schedule C and claiming this cryptocurrency mining as self-employment income, then you will be able to claim any “necessary” and “ordinary” expense as business expense include equipment used in your business.

If this is just considered investing activities, then you would not be able to claim any deduction for the cost of equipment.

Also, please be aware that you are claiming this equipment as a business expense, you would not be able to directly expense your business equipment unless under $2,500 and you are claiming theSafeHarbor Election. For equipment over this threshold, you will be able to claim it was a business assetand take deprecation (and could possibly be eligiblefor bonus depreciation or an IRC Section 179 deduction).

Just enter the asset under your business summary page.

Please refer to thisIRS link for more information about BusinessExpenses

To enter Businessincome and expense information in TurboTax, log into your tax return (forTurboTax Online sign-in, click Hereand click on “Take me to my return”) type “Schedule c” inthe search bar then select “jump to Schedule c”. TurboTax will guideyou in entering this information

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I started cryptocurrency mining at the end of 2017 and was …

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