Crypto Tax Draft Allows Staking Delay, Transaction Aggregation

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, reviewed by Bloomberg Tax, would allow the option to delay counting tokens newly created 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 cryptocurrency holders to add up aggregate losses or gains incurred over the ...