Are staking rewards taxed?

Are Staking Rewards Taxed?

Staking rewards (extra crypto you receive for staking) are generally taxable. They may be taxed when you receive them (at fair market value) or when you sell them. The 30% VDA rate may apply. When you sell the staked or reward tokens, you may have an additional gain. Keep records of all staking rewards, dates, and values. Report them in your return. For exact treatment, refer to current law or a tax professional.