The IRS just lost its case in US Federal Tax Court regarding taxes on crypto mining & staking!
Ruling: Mining & staking are NOT considered current income until they are sold.
This makes sense if the IRS is to be consistent with defining Crypto as property. Crypto earned through mining or staking is NOT income. It was argued that it is "created property" and therefore, not taxable till it is sold. The IRS just had to refund the income taxes paid to a Tennessee couple for this very reason.
