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RE: Hive Power Taxable?

in LeoFinance • 4 years ago

I did and did.

HIVE Power is effectively an escrow account held on your behalf by the blockchain. You can't spend it, you can't trade it. So it's not yours.

If you want to get into the weeds, HIVE and HBD received from posts are not capital gains. They are ordinary income and have self-employment tax considerations. The price at which HIVE/HBD are trading that day then becomes your basis for capital gains if and when you trade them later.

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4 years ago in LeoFinance by
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     4 years ago  

    !ENGAGE 30

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       4 years ago  

      Thank you for your engagement on this post, you have recieved ENGAGE tokens.

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         4 years ago  

        Recommend any tools or sites if you never kept good records? Even if just for YTD vs full Hive Year.

        I always thought it would be viewed as constructive receipt, interesting it's not until powered down.

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