IRS Clarifies When Cryptocurrency ‘Staking’ Rewards Are Included in Taxable Income
The IRS has published new guidance regarding the treatment of cryptocurrency staking rewards. In Revenue Ruling 2023-14, the IRS has ruled that staking rewards must be included in gross income for the taxable year in which the taxpayer acquires dominion and control of the awarded cryptocurrency. Staking Rewards and Their Uncertain Tax Treatment “Staking” of…
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