Hivemapper (HONEY) Tax Reporting Guide 2025

Complete guide to reporting Hivemapper dashcam mining income on your taxes. Learn about HONEY token taxation, dashcam depreciation, mileage deductions, and required IRS forms.

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What is Hivemapper?

Hivemapper is a decentralized mapping network that rewards users with HONEY tokens for contributing street-level imagery using dashcams. By driving with a Hivemapper dashcam, you help build a community-owned map while earning crypto rewards.

Hardware

Hivemapper Dashcam

Token

HONEY

Activity

Driving & Mapping

How HONEY Tokens Are Taxed

1
When You Receive HONEY (Income Tax)

HONEY rewards are taxed as ordinary income at the fair market value when received. This is reported on Schedule 1 (Line 8z) for hobby mapping, or Schedule C if you treat it as a business.

2
When You Sell HONEY (Capital Gains Tax)

When you sell HONEY, you owe capital gains tax on the difference between sale price and your cost basis (the FMV when received). Report on Form 8949 and Schedule D.

Deductible Expenses for Hivemapper

If you treat Hivemapper mapping as a business (Schedule C), you can deduct these expenses:

Expense	Typical Amount	Tax Treatment
Hivemapper Dashcam	$300-$650	Section 179 or 5-year depreciation
Mounting Equipment	$20-$50	Immediate deduction as supplies
Mileage Deduction	$0.67/mile (2024)	Standard IRS mileage rate
Data Plan (if separate)	$10-$30/month	Business portion only
Repairs & Maintenance	Varies	Camera repairs, cable replacements

Mileage vs Actual Expenses: You can either deduct the standard mileage rate OR actual vehicle expenses (gas, depreciation, insurance) — but not both. Choose the method that gives you the higher deduction.

Required IRS Forms

Income Reporting

Schedule 1: Hobby income (Line 8z)
Schedule C: Business income
Schedule SE: Self-employment tax (with Schedule C)

Capital Gains

Form 8949: Each HONEY sale transaction
Schedule D: Summary of capital gains/losses

Frequently Asked Questions

How are Hivemapper HONEY tokens taxed?

HONEY tokens are taxed as ordinary income at the fair market value when you receive them. When you sell HONEY, you may owe capital gains tax on any price increase since receipt.

Can I deduct my Hivemapper dashcam purchase?

Yes! The Hivemapper dashcam is deductible as business equipment. You can use Section 179 to deduct the full cost immediately, or depreciate it over 5 years using MACRS.

Can I claim mileage for driving while mapping?

Yes, if mapping is your primary purpose for the trip. The 2024 IRS standard mileage rate is $0.67 per mile. Keep a detailed mileage log with dates, destinations, and purposes.

What if I use my car for both personal and Hivemapper purposes?

You can only deduct the business-use portion. If 30% of your driving is for Hivemapper mapping, you can deduct 30% of vehicle expenses or mileage.

Do I need to report HONEY if I did not sell any?

Yes. HONEY rewards are taxable income when received, regardless of whether you sell. Report the fair market value as income even if you hold the tokens.

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