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Episode 40 | Jacob Kobler from Consola Finance on Crypto Bookkeeping

The Accountant Quits Podcast

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Consola

The tricky part is how to account for the staking income when the original stake demand and the income is delivered in a single line item, meaning the accrual are often not reflected on the blockchain. In Austria, you don't pay any taxes on the staked income only when you sell or you spend the assets then it is an taxable event. But what we do or what we try to do in consola, we overall split the staking transaction and reward and also track the cost basis of the staking cryptocurrency. And with properly looking into the metadata of the transaction, you can also understand what was the initial staking amount and the rewards of that transaction.

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