What’s the best way of keeping track of staking rewards for taxes? Is there software somewhere?
Cardano taxes are automatically withdrawn from each transaction and added to the treasury
I’ll have to pay US taxes on the rewards I receive though. Is there a way to do that? Or am I just going to have to log in 73 times a year and see how many ada I receive and log the price?
I recently got this information From the person who runs Skylight pool (SKY and SKY2) I believe he is affiliated with pooltool. Here is the web site: https://pooltool.io/
"So I have looked into the pooltool rewards download files. Pooltool allows you to track your rewards and download your rewards as taxable events. You just need to enter your address and it will find your staking address and display it. once there you can click on the arrow on the left to get to a page where you can download your files.
There are two format choices:
download a csv file (this is something you excel can read)
download a cointracking.info file
The first option gives you pretty much everything you need to file your taxes–the amount of rewards, their date of receipt, their USD equivalent. The second option gives you a couple of extra benefits. This is a form accepted by cointracker.info. Their service allows you to connect to exchanges and keep your records in one place. You have plenty of tools but it does require that you tie your email to your addresses so if you want to remain private, just use option 1."
Sweet!! Thx for the info!!
Ok, need more help. How do I find my staking address? I’m using Daedalus. Sorry to be a pain.
And what if I switched pools a few times? will it know that?