Hi. I am confused on how to categorize staking of coins. Recently staked my coins and then unstaked over some period. The staking entry went in as a “withdrawal” and the coins came back into my wallet as a “deposit”. I have attempted to reclassify both as staking events, but I don’t seem to be doing something correctly. In addition, the coins came back in from being staked at the current market price rather than at the price which I bought them (the coins appreciated while being staked and now my return is showing to be less than it should). Anyone know how to correct both issues? Thanks.
Hey! I’m sorry to hear that. I’m going to need you to help me out with the following:
- Account details
- Screenshot of the error you’re seeing
- Wallet/Exchange you were using when you encountered this issue
Please send all of this to email@example.com and we will try to help you out as quickly as possible.
Besides that, here is a useful article for you to learn more about staking for tax purposes: https://www.accointing.com/the-hub/2021/2021-u-s-bitcoin-and-crypto-taxes-ama-with-dennis-wohlfarth-clinton-donnelly/#h-e-staking-analogy-for-business-income