Thanks, I have been trying to understand the tax issues associated with a Steemit account. I have been on a month now and been keeping track of what I am getting for rewards but am still learning and trying to understand what I need to be doing for reporting purposes...
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Hi @ma1neevent ,
This is an issue that first made me decide to post about crypto taxes, as others are having the same question. It is definitely a gray area, that potentially could be interpreted as either ordinary income or even running your own business. For now, I'd recommend just trying your best to keep track of what you earn (translated to $ at the time of receipt, if possible) and when you earn it. On the bright side, with all transactions going in to a blockchain, there should be a record if you ever need to look back in time :)
yes I am doing my best. I reached out to my accountant but I think this whole crypto space is new territory for them... Thank you so much for your insight