The US Internal Revenue Service (IRS) has outlined the latest tax guidance that classifies earnings from crypto staking as taxable income.
Per the Revenue Ruling of 2023-14, issued Monday by the IRS, crypto investors must report rewards earned from staking digital assets as gross income, in the same year it was received.
The document says that gross income includes income realized in any form, whether in money, property, services and currently staking reward….
Read More: Digital Asset Investors Should Report Crypto Staking Rewards as Taxable Income: IRS