I bought SOL with a cost basis of 200 two years ago. It’s sitting in Solflare. If I stake it, it becomes a taxable event. I’m down 70%. So would those losses carry over $3,000 per year until gone? I haven’t made any trades this year so I don’t have any profits to deduct the loss from.

  • GucciRifle@alien.topBEnglish
    1·
    10 months ago

    With staking you’re not taking anything out or transferring anything. Why would you pay taxes on it? Only when you transfer it out of your wallet to sell it. But even then. Fuck paying taxes

    • Bo0g33ks47@alien.topBEnglish
      1·
      10 months ago

      Staking crypto is like money parked in a savings account that accrue interests so yeah technically you have to report it to IRS even if it’s less than $10 you earned that year.