Classifications for Staking

Hey Accointing Team,

I need help with staking classifications (ADA Cardano)
Currently I can find 3 different ones (staked, staking and staking income).

Classification in

There is only “staked” in the import template. What are the other classifications for manual import (staking, staking_income)?

Are multiple classifications possible for just one deposit?

There are 2 different deposits in my wallet:

  1. ADA coins have been received and will be staked (staked)
  2. ADA Rewards have been received (staking_income)

Is that right?

For What do I need the classification (staking)?


Hi @makrele! You can use staking and staking_income for the same purpose. So, I suggest

  1. (staked)
  2. (staking)*

*if you are using a Form.

If you are using only the import template, put all your incomes related to staking as “staked”. I leave this link here so you can read more about classification for your specific country Crypto Taxes - Accointing Blog - Cryptocurrency Portfolio Tracking & tax Software

Hey guys! I understand your frustration with the staked and staking classifications so just to clear this out from out standpoint:

all tokens that were staked=do not classify
all tokens that came as a reward for staked tokens=staking

The reason why we don’t have more strict guidelines is because there aren’t any and they are subject to the interpretation of the different jurisdictions. That bein said, here is an article from Bloomberg providing further context on the matter:

Now, the lender could be considered to have converted their crypto for another crypto when they “stake” their money into the liquidity pool and received another token they can sell elsewhere. That is a taxable event, so in this example, just as dividends are taxable, so are tokens generated from staking activities.

However, it’s not as straight-forward as that because this transaction can also be viewed in another way; in that what the lender deposited in the liquidity pool is still their money and the tokens they receive in exchange is nothing more than a receipt. That means it is not a taxable event.

Meanwhile, on the borrower’s side, it can be argued that depositing collateral and receiving a loan in a different token form is akin to an exchange transaction, so a taxable event. Of course, usually taking a loan is not a taxable event. However, the transaction on a DeFi is unique. Unlike conventional loans, it includes depositing one currency as collateral to receive a loan in another.

If you need any tax assistance with your crypto taxes, make sure you visit ACTAN in the Hub where any of our crypto tax professionals can help you out.