Crypto Tax Draft Allows Staking Delay, Group Transactions (1)

Taxpayers can report aggregate digital asset gains and losses and delay counting newly created tokens as income until they’re sold under fresh legislation floated by the House Ways and Means Committee.

The discussion drafts, obtained by Bloomberg Tax, would allow for a delay in counting newly created tokens through mining or staking as income until they’re sold. At that point, any gains or losses from the sale would be treated as ordinary income for tax purposes, rather than capital gains.

Another piece of draft legislation would allow holders of widely traded digital assets to add up aggregate losses or ...