I’m earning a tiny bit of interest on Tezos, Dai and USDC just by holding them on Coinbase.
I get a new transaction almost every day.
Should I be manually marking all of these as interest? Staking rewards? Something else?
They don’t appear to be automatically marked as anything other than Receive.
I’ve searched everywhere for an answer before writing this comment. No luck. Have you figured out the answer in the meantime?
I played with the numbers and manually adding a Staking Rewards tag increases tax liability. This leads me to believe we should manually tag all of them. However, for people who made more than $600, this will be covered by the 1099-MISC that they’re sending out. So would those people not bother with the manual tagging on Cointracker. Would that screw anything up?
I have not figured out the answer to this, and I find it kind of troubling. I also posted on Reddit asking and didn’t get any satisfactory answers.
I contacted support about it maybe a year ago, maybe more, and they actually never got back to me.
I’m kind of frustrated.
Me too and I’m surprised no one else is talking about. Like, how else is everyone who stakes via coinbase balances reporting their taxes? And especially considering cointracker is the recommended software.
