Disclosure: This article contains affiliate links. If you sign up or buy through them, bitcoinethxrp.com may earn a commission at no extra cost to you. We only recommend products we have researched in depth. Table of Contents Toggle Key Takeaways How to Report DeFi Taxes: What This Guide Covers Is DeFi Taxable? Which DeFi Events … Read more
TL;DR: DeFi income — staking rewards, yield farming payouts, LP fees, lending interest, and airdrops — is taxable as ordinary income at fair market value when received. Report it on Schedule 1 of your Form 1040. Every subsequent swap or sale triggers a capital gain or loss on Form 8949. Use crypto tax software to automate the tracking, … Read more
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