Tax question in case anyone knows, if i unstake all

Question

Tax question in case anyone knows, if i unstake all

my amp now while its at a low price, does that constitute me receiving my staking rewards so i would pay tax on the lot at current value? Capital gains is a lot less for me than income tax which i assume staking rewards comes under as thats what i would pay on interest ok savings. Or should i have paid tax on the last 2 years' staking already? (Sorry big brother if you are watching)

#amp #cryptocurrency #english

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24.12.2023

6 ответов

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Jason Weyl

Matt G
You are supposed to pay tax on staking rewards in ...

No one in this chat can provide financial or tax advice.

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11 месяцев назад

MeatyMr McNasty

Matt G
You are supposed to pay tax on staking rewards in ...

Once you make the withdrawal you’ll be taxed on the earnings. CoinTracker is extremely useful tool when using TurboTax.

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11 месяцев назад

MeatyMr McNasty

MeatyMr McNasty
Once you make the withdrawal you’ll be taxed on th...

Im not sure if staking rewards are taxed the same way as overtime pay, sales commission, lottery winnings, or gifts, but on the safe side I’d recommend it’ll be close to 40% regardless of how long it’s you’ve been staked

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11 месяцев назад

MeatyMr McNasty

Jason Weyl
No one in this chat can provide financial or tax a...

And that is my tax advice 😜

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11 месяцев назад

Matt G

I’ll pre-empt this with NFA and DYOR, but here’s a link that provides information as I understand it. It’s ultimately your call how you handle it… lots of information online that you can find related to it… https://coinledger.io/blog/staking-taxes Anyway happy holidays!

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11 месяцев назад

Matt G · Accepted Answer

Matt G

You are supposed to pay tax on staking rewards in each tax year

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11 месяцев назад

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Tax question in case anyone knows, if i unstake all

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