Does anyone have any advice on US Taxes for this? I haven’t seen any solid advice from any tax sites except that coins/tokens do count as income and you have to claim them. Any rewards, consulting where there is a transfer of value, you’ve got to claim it. Seeing as how I have successfully been able to move from NMR to USD…its seems like something to claim for the IRS.
Here’s my current strategy to get the value of the NMR.
For the Numerai that I won before it hit exchanges (7/23) according to coinmarketcap.com , I’m counting the cost as NMR * 35.05 which is the opening date price. Then, every time I’ve received NMR, I’m using the historical closing cost. So I.e. if I won 10 NMR on 8/30 then I’m calculating 10*$35.84. I’m going to add that up with USD winnings, and that is the total income.
I found you can see a list of transactions by copying and pasting your Deposit Address (looks something like 0x0000000000000000000000000000000000002aa1 ) then looking it up in https://ethplorer.io/) . The deposit address is in Balances–>Deposit Address FYI.
Anyone else taking this approach? Obviously the best way to reach out to a tax consultant…this is not legal advice, I’m not a CPA, just an ML fan!