Isn't interest income on crypto taxable?

I hold my crypto in a Celsius.network wallet and receive interest payments every week. Cointracker doesn’t seem to be taking that into account when generating the tax reports. Why isn’t Cointracker tracking that as taxable income?

1 Like

Thanks for reaching out — you’re right! We’re working on getting interest added to the tax center as well and we’ll let you know as soon as that’s available.

3 Likes

Do you have a sense whether you’ll get to it in time for the current (2020) tax year?

1 Like

We don’t have an exact ETA on this feature yet but we will let you know as soon as we have an update on the request above!

Since interest is taxable, but Celsius sends us a 1099-misc, if its over $600, could there be a conflict if cointracker gives us that info? Or would it be its own “1099” generated?

Thanks.

I am wondering the same thing with Gemini Earn as they send a 1099-misc, if its over $600 as well?

I have the same issue. Is the answer for now to mark the interest from Celsius as “Staking Reward”? That is what I’ve done for my interest from BlockFi & I have been wondering why “Interest” is not included as an option in the dropdown menu for marking transactions.

What would be your recommendation to list interest income through Celsius as within the provided selections on Cointracker? 1. Ignore 2. Mark as staking reward 3. Mark as transfer