CGT on staking tokens

[chris_kazamias]

Hi everyone, need some advice regrading CGTax due on Staking

IN march i staked a load of Fantom with Fantom. Koinly seems to be registering this as a dispossal that incured a capital gain tax event. Is this correct?

Also both my tracking apps are not locating the Fantom in my wallet due to it being staked. Is this normal?

Does anyone have any idea how staking affects capital gains? Not the rewards but the actual act of stacking.

For example when I unstake will that be another capital gains event?

Thanks in advance.

Chris

[Aria_Koinly]

Hi @chris_kazamias,

In Koinly, we cannot tell you whether the staking transaction itself is taxable or not, though in many countries it is not.

If this is the case for you too, you should tag the staking transaction as “add to pool” and when you receive the tokens from the pool as “remove from pool”. This is explained in our
Staking and farming tokens
article.