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RE: How to pay zero crypto taxes this year.

in LeoFinance4 months ago

By the IRS's own definition, HIVE power or STEEM power etc are not taxable income. The definition for paying taxes on a virtual currency are to pay the dollar value of the currency when received, but also by definition, HP/SP/etc. have/has no dollar value and are not traded on any exchange. Once they are powered down they are 'converted' into something that has a dollar value and can be traded on an exchange. Therefore based on my understanding HP/SP is not taxable income.

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That is so crazy... and you can choose to covert rewards 100% into power so... sweet deal.

Bingo... been trying to do that on hive.blog for how long now... also perhaps LeoFinance should have that option?