Is Staking Still Taxed? How Do I Handle My 1099? Answering Crypto Questions

Matt Metras, an Enrolled Agent at MDM Financial Services and overall crypto tax expert, joins the show to discuss and demystify the popular question: is crypto staking taxed? Matt outlines the recent Jarrett case that had plenty of crypto enthusiasts asking the question! Plus, Matt answers crypto tax questions from Reddit users: casualty losses, FBAR and FATCA, Roth IRAs, the Economic Substance Doctrine, how to handle 1099s, a potential (but unlikely) De Minimis, wash sales, fair market value versus zero cost basis for airdrops and NFTs, and more!

Guest

Matt Metras

Twitter: @EmDeeEm

Facebook: @BitcoinTaxesMe

Reddit: BitcoinTaxesMe

Website

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(01:55): The Jarrett Case’s Effect on Staking Taxes

(07:30): A New De Minimis Bill?

(10:05): The Current Status of Crypto Wash Sales

(14:53): Constructive Receipt – When Do You Own Airdrops?

(22:32): Are NFT Airdrops Reportable Income?

(24:42): Crypto Casualty Losses – Lost, Stolen, Hacked Crypto

(29:24): Dealing With 1099s From Crypto Exchanges

(38:05): FBAR and FATCA – How To Report