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Nick6adams
January 30, 2022
Question

Crypto

  • January 30, 2022
  • 1 reply
  • 0 views

Can someone provide a list of 3rd party crypto tax websites that calculate crypto taxes for staking/defi that is compatible with TurboTax? Currently I see Koinly and possibly Zenledger.

1 reply

JohnB5677
JohnB5677
January 30, 2022

A cryptocurrency that you have received through staking rewards is treated as ordinary income per IRS guidelines; this means that you will owe tax on the entire (USD) value of your crypto on the day that you received it at your regular income tax rate.

 

TurboTax has a Tax Calculator:  TurboTax Cryptocurrency Tax Calculator

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Nick6adamsAuthor
January 30, 2022

I am talking about staking/defi…this is different than just buying and selling bitcoin on coinbase. 

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