Reporting Staking Income

[Jacob_Hu]

Hi,

I’ve traded crypto in Australia and earned staking rewards. I’m aware I have to report this as income tax, but I’m unsure where exactly in the tax return I report it? Any help would be appreciated, thanks

[Jethro_Blaze]

I’m not entirely sure but I think you have to mark the coins you received from staking as a “reward”, and then it should catalog that in the final tax forms.

[Ali_Koinly]

Hey @Jacob_Hu Jacob

Thanks for reaching out!

Koinly will by default treat deposits tagged “Rewards” as Income and this will be highlighted in the report we generate. You can then take that figure and input it in the tax return.

Just be sure to go through your transactions and make sure all your rewards are accounted for

Best,
Ali