Tuesday, November 9, 2021

Staking Capital Gains Tax when moving bitcoin for the first time to staking platform.

Hi, I have quite an interesting tax question, haven't seen it answered anywhere I've been reading up for a whole month!

say I have had bitcoin since the beginning, and have a cost basis of 0 and have never made a CGT event.

I don't want to realize the gain for capital gains, but I still want to make money from it via staking, and use the "miscellaneous" income to live off of, is the original bitcoin collateral taxable under CGT ? Or has a CGT event not been created? And I can just mark whatever I earn from the APY as Misc income/ CGT event when transferring to GBP stable coins?

So a TL;DR

I want to stake bitcoin

I have a cost/acquisition basis of 0, and the current price is 67,000

I want to make money from staking, with the original coins and not trigger a CGT event on the original coins

Thanks!


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