Cryptocurrency Q&A
Is Stake US taxable?
Is Stake US taxable?
KimonoGlitter
Wed Dec 25 2024
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7 answers
1731
I am a US citizen and I am considering investing in Stake. However, I am not sure if the earnings from Stake are taxable in the US. I would like to know if I need to pay taxes on my Stake investments and how to handle the tax implications.
7 answers
Ilaria
Fri Dec 27 2024
The value of the staking rewards on the receipt date is also vital for tax purposes.
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SilenceStorm
Fri Dec 27 2024
Proper tax reporting of staking rewards is treated as ordinary income.
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Federico
Fri Dec 27 2024
Staking rewards, once received, are liable to income tax.
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Tommaso
Fri Dec 27 2024
The taxable amount is determined by their fair market value in U.S. dollars at the time of receipt.
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AltcoinAdventurer
Fri Dec 27 2024
Keeping detailed and precise records helps ensure compliance with tax regulations.
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