#88 - Tax attorney Andrew Gordon answers the most common crypto tax questions.
Law of Code
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The Tax Consequences of Delegating Crypto
When you stake crypto with a delegate, could you describe a bit about what the tax consequences there? So say you have some ETH, but then you delegate it to someone who is staking it on your behalf. Are there tax consequences even though you're not selling that crypto? So it will depend on the actual mechanics of the delegation. Sometimes they'll give you another token in exchange. And that in some cases is a taxable event. It's possible and it's definitely worth it for many people,. Just given the different cost basis depending on when you were involved in.
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