US High schooler here. I've only just recently started to use my computer to casually mine small amounts of altcoin (coins that aren't bitcoin), and have just found multiple resources stating that mined coins need to be taxed as a capital gain based on income. Thing is, I don't make any income, plus I've never had to file taxes in my life, so I need advice on where to start out and if I have to pay taxes for this small of an amount. I read that holding these coins for more than a year as a dependent would result in me paying 0% capital gain tax. Is this true? I kinda doubt it.
I only have like 10 bucks in crypto and haven't traded at all as I know it is a taxable event; Is it a good idea to keep track of transactions and the price of the coins at that time? How would / should I report coins that fall and rise and value as time goes on? I appreciate your help, thanks.
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