IRS Breaks Silence on Staking Income
The IRS has finally issued guidance on staking income. They state that cash-basis taxpayers must report the staking rewards when they have gained full dominion and contro...
Crypto Staking Income
No Staking Clarity After Jarrett Lawsuit Dismissal
Last year we wrote a series of articles talking about the Jarrett v. U.S lawsuit and its implications for the taxability of staking income. The first talked about the cor...
Tax Write-Offs for Crypto Held on Insolvent and Bankrupt Exchanges
Crypto investors are likely to get tax write-offs from assets held on insolvent exchanges, but they are probably going to have to wait a while. Exchanges simply freezing ...
How Are Liquidity Pools Taxed?
The IRS has not issued any guidance on the taxation of liquidity pools. That said, there are a few prevailing theories on whether or not the entry into and exit out of th...
Stablecoins Are Not “Risk Free”
Stablecoins are not currency. While they are an important part of blockchain’s development and can be a component of your crypto investing strategy, they are anything but...
What Are Wrapped Crypto Tokens and How Do They Save You on Taxes?
High interest DAOs are horribly tax inefficient. Wrapping the token helps correct this, although it is unclear if this method will hold up to IRS scrutiny in the future. ...
IRS Says Not All Crypto Is Property
A while back we wrote about the Jarrett v. USA case and how it will affect the taxation of staking income. The Jarrett Case’s Importance for Staking On December 20, 2021 ...
How Is Node Operator and Node Validator Income Taxed?
Node operators will most often be taxed the same way as crypto miners. But there are situations where their rewards could be taxed as regular staking income. Node Income ...
Jarrett v. U.S Lawsuit: The Future of Crypto Staking Income Taxability
A few months ago, we discussed how staking rewards are currently taxed. In that article, we noted that under current IRS guidance we can discern that: Staking rewards are...
How to Track Crypto Activity
The majority of cryptocurrency activity will result in some sort of reportable transaction. This can cause difficulties both if you’re trading on a larger centralized exc...
How Is Staking Income Taxed?
In this article we are going to be speaking specifically for people who hold proof-of-stake (PoS) tokens as delegators, not those who are operating full-blown nodes as va...
How are Gala Node Earnings Taxed?
If you’ve recently purchased a Gala Games node, you may be wondering how these earnings will be taxed. And if you aren’t, you should be. Not fully understanding how crypt...