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Cryptocurrency stakers must include rewards in gross income upon gaining control of them

|Tax Alerts, Individuals, Asset Managemen ...|United States
United States

  • The IRS rules that rewards from cryptocurrency staking must be included in gross income when the taxpayer can sell, exchange, or otherwise dispose of the rewarded cryptocurrency.
  • This is the first time the IRS has issued a revenue ruling on cryptocurrency staking rewards.

The IRS has ruled (Revenue Ruling 2023-14) that taxpayers using the cash-method of accounting must include the rewards from crypt…

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