Crypto From Employer

[hanpug]

I receive crypto payments as a form of benefit (restricted coin unit) from my employer. I have not cashed out any of this crypto. How do I report it? Will I have to pay taxes on it?

[GCEA]

Hi @hanpug ,

Restricted Token Units awards are treated by the IRS as property received for performance of services. Tokens awarded will be taxed in the year is made if the fair market value of the tokens at the time of the awards is greater than the amount paid by the recipient will be taxed as ordinary income  and subject to payroll taxes.

To  help you better understand the tax implication of RTUs go to :

Cryptocurrency Compensation: A Primer on Token-Based Awards 

Thank you!