Thanks, I appreciate taking the time to respond!
Hi @wigglemuse
I am using Koinly this year but not quite sure exactly how. Would you kindly share an example of how you use them? I would really appreciate it. Thank you.
I can never remember, and I figure it out anew each time. I haven’t gotten into it yet for this year.
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I believe if you kept NMR in the staking wallet for compounding, you are invested, there is no sale of NMR to get cash. This should not cause taxes. But I am not an expert in this. Consult a tax professional.
My understanding is that if you are staked and receive any Numeraire payouts that counts as taxable income, even if you never sold any of the Numeraire. As an analogy, if you work at Google, Google will give you stock as part of your compensation and you have to pay income taxes on that stock, even if you never sell the stock.
That depends on your country though and their tax systems. One size does not fit all in tax cases. Get a tax consultant to help you and maybe even more than one. I’ve had conflicting reports from various tax people in my country.
Very true, my statement was for the US. I can’t speak to how it might work in other countries.