Cryptocurrency Q&A
Does staking count as income?
Does staking count as income?
BitcoinBaroness
Sun Feb 23 2025
|
5 answers
919
I'm wondering if staking, which involves locking up my cryptocurrency to support a blockchain network and earn rewards, is considered as a form of income.
5 answers
QuasarStorm
Tue Feb 25 2025
The Internal Revenue Service (IRS) has issued important clarification regarding staking rewards.
Was this helpful?
212
24
CryptoMercenary
Tue Feb 25 2025
According to the guidance, staking rewards are classified as income. This classification is determined by their fair market value at the moment they are received.
Was this helpful?
331
36
benjamin_doe_philosopher
Tue Feb 25 2025
Taxpayers must report these rewards as income for the tax year in which they are received.
Was this helpful?
61
47
Ilaria
Mon Feb 24 2025
When individuals later dispose of their cryptocurrency staking rewards, they may incur a capital gain or loss.
Was this helpful?
207
67
InfinityRider
Mon Feb 24 2025
The capital gain or loss is calculated based on the change in price of the staking rewards since they were originally received.
Was this helpful?
108
78
