Crypto.com Visa Card CRO Rewards

How should Crypto.com Visa Card CRO cashback rewards be classified? I’ve seen mixed reported on this issue, so I’m not 100% sure whether this simply goes down as income/classified as “Bounty”/or whatever else.

Thanks in advance. :slightly_smiling_face:

Let me get back to you on the specifics :slight_smile:

As of now, here is what I can offer.
Here is the breakdown of classifications: Crypto Tax Classifications : Accointing AG
Here is how you are taxed per classification: You searched for classifications - The Hub on ACCOINTING.com

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From what I can tell, for Americans, classify the Credit Card Rewards as Add Funds, since it is a non-taxable event in the USA. We are currently looking into this for other countries.

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We plan to make this more clear, please standby.

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I hope that this will be solved by the end of the year due to the upcoming tax report. If you can’t give a clear recommendation, I expect you to at least give options, e.g. “bounty - consequence 1” “staking - consequence 2” etc.
Thanks a lot

We have an internal meeting and we plant to talk about this :slight_smile:

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Hi, was your internal meeting already held and got a result concerning this classification?

I also checked Crypto Tax Classifications : Accointing AG and found that Margin Gain is listed twice.

Thank you for the correction, I will tell our writers :slight_smile:
As for the internal meeting, yes we did have an internal conversation we have done research on the tax implementation of it. I believe that we are creating a new classification for this, however, I am not quite sure. I plan to update you when I do know.
I believe it is not taxable in the US, I am unsure elsewhere.

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