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RE: Valuing Steem Rewards As Taxable Income Is A Vast Overstatement Of Tax Liability - Part 1

in #taxes7 years ago

That's correct, but it depends entirely on how you get it.

Crypto you just own or buy is property, subject to capital gains after 1 year, or normal income tax if sold the same year.

Anything that you are paid in as a proxy for income (like, our Apple stock executive example) is taxable as regular income.

Steem earned from posting is a gray area, as there is nobody paying you, and Steem Power has no market value. That's the point of this series - finding out how we can use this to our advantage, legally.