Is staking income taxable?

Is Staking Income Taxable?

Staking rewards (additional crypto you receive for staking) are generally treated as income. They may be taxable in the year you receive them or when you dispose of them, at the applicable rate. For VDAs, the 30% rate may apply. The exact treatment can depend on how the tax authority views staking (as income or as a separate asset). Keep records of all staking rewards and their value at receipt. When you sell staked coins, you may also have a capital gain. Consult a tax professional for your situation.