Cash back payments?

Are cash back payments to my wallet (i.e MCO cash back from crypto.com) considered a staking reward since they don’t have a cost basis associated with them? Since I have a crypto “staked” with crypto.com for this benefit, would they be considered a staking reward in this regard?

Hi @kiphos,

Yes, you can mark these receives as staking rewards.

with regards to the above question. we get rewards on our purchases when we use our crypto card. The rewards come to us in the form of CRO. We also receive a reward for the staking of CRO which allow us to benefit from the crypto back rewards scheme.
I understand that the staking rewards we should mark as staking as it is staking.
With regards to the cash back in CRO rewards for our spending with the card I’m unsure of if it needs to be marked as a staking reward.
With regards to the UK.
Statement of Practice 4 (1997) - GOV.UK (www.gov.uk)
I don’t know if this applies or if the cash back reward is taxable.
I don’t have any other cash back cards I know some banks give them but are those rewards taxed?
genuinely asking as I don’t know much about the whole staking and cash back in terms of tax, I personally thought it was a reward like you get points on a loyalty card. I thought it would be just capitals gains to pay when they are sold.
any clarity would be appreciated.