Hi there Koinly community,
There has been several discussions about this with no clear guidance so thought I would ask again to see what the wider community thoughts are:
How are people currently declaring LKMEX in their portfolio and how are people planning to declare this for 20-21 tax year? It should be ‘rewards’ and therefore subject to income tax however - everyone will have a massive tax bill to pay with a token worth far less.
I believe there is a strong argument that as the token is locked and ‘unsellable’ then it shouldn’t be subject to income tax? Perhaps only triggers an income when the owner converts to MEX?
Appreciate peoples thoughts…