Why we still need tax advice on staking rewards


If instead we consider wagering rewards as payment for services, we will review §61(a)(1), which states that compensation for services is included in gross receipts. Generally speaking, payment for services is paid in cash (ie, a paycheck). However, staking rewards are paid in crypto. Regardless, §83(a) tells us that property transferred in the rendering of services must be included in income at its fair market value, less any amounts paid.