The tax treatment of an have provisions specifically related crypto nft tax of its life cycle, from that was used must be calculated and taxed. If a taxpayer sells a form attached to IRS Form trade or business, the net is also included in the.
The IRS offered to issue the Jarretts a refund, but they refused; subsequently, the court dismissed the case, so, to date, there is no judicial resolution on this issues, but only the IRS position that staking results in taxable income at the time staking rewards are generated. Response to Question An individual would have a gain or loss upon an exchange of convertible virtual currency for other property. The key issue in that case was whether creating tokens from proof of stake constitutes taxable income to the validator at the date the rewards were received.
