... by rok-sivante

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· @rok-sivante · (edited)
$32.76
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@ravenruis ·
I'll join you in the head-banging part, even though I am nowhere near (if ever) having to figure out crypto-taxes. It really did sound like an awfully, awfully convoluted maze to navigate.

I would imagine, added to the mix could be the question of whether you take it as earned in your own country, or country-of-origin (aka where the servers are)?

Could it be as simple as only paying tax on what you withdraw/convert from the a/c?

It will be interesting to hear from accountants on their perspective, and whether they've had to learn to deal with this yet.
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@boodles17 ·
I'm with you on this one.  You could potentially see it as an investment and paying tax on what is withdrawn/ converted from the account.
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@rok-sivante ·
>Could it be as simple as only paying tax on what you withdraw/convert from the a/c?

I would *hope* so. Though guessing probably not.

I've got a meeting with a lawyer knowledgeable in the space on Friday, so shall likely gain some clarity therein and post updates...
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@biasnarrative · (edited)
Theoretically, a tool could be written to look at times awards were claimed vs price of crypto at that time. Your worth in crypto of your wallet would than be the average worth of the crypto from every time you ever claimed the reward. 

I feel like that is the legitimate way it would be done.
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@anonimnotoriu ·
$0.29
@lexiconical wrote about this topic a few months back. He had a 3 parts post about this. Here's the first post: https://steemit.com/taxes/@lexiconical/valuing-steem-rewards-as-taxable-income-is-a-vast-overstatement-of-tax-liability-part-1
👍  
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vote details (1)
@rok-sivante ·
Thanks for sharing, this is great! 🙏
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@elew ·
Here is an article apparently written by a tax lawyer on crypto tax...not sure if it will have the specifics you are looking for, but maybe it will help. https://solari.com/blog/solari-special-report-how-the-u-s-federal-government-handles-taxation-for-cryptocurrency/
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