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Advice for Keeping Track of Rewards for Taxes?
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I want to make sure that I keep up properly with everything, and my understanding is that any crypto that you get "for free", that is, that you didn't pay for.

So, obviously, staking rewards. But also, I assume, from faucets or received through services such as Brave, Rarible, or Presearch.

How do you all keep track of the rewards you receive, and at their varying prices? I'm having particular difficulty figuring out how to handle Algorand's rewards, as its paid out in microalgos (tenths of cents) once a day.

I'm also unsure of how to reconcile "hodl and don't look for a few years" with staying aware of those daily, monthly, and other rewards and what I owe on taxes for them. Seems like there is more of a need to stay "constantly" aware/involved with your crypto on a monthly and/or annual basis rather than just "set it and forget it".

Any input is valued. Thanks in advance

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3 years ago