Team,
I’m staking a coin pair and receiving rewards in the form of another token. According to the ERC-20 Etherium import process, it is flagging it as “Received” but there is also an option to flag them as “Rewards”.
As a US resident, are these considered Rewards or Received? How does that affect my taxes?
Thanks!
-Brent
I am not an expert, but my impression is that Rewards and Income are pretty much the same for tax purposes.
If you have staked your coins, then you are expecting an income from them, and so the tax people will probably treat this as an income event
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