cryptotax

Made some good progress on the crypto accounting today, just ~3000 transactions left to review 😛 Got a first capital gains calculation going and it looks… expensive.

gm. Fulltime degen, building fun stuff onchain. 
Master of Disaster Frogworks, /ottodao bullfrog, ex @astaria

Luckily capital gains tax in Germany is flat 25% while income tax is progressive and can go as high as 45%

How do you guys tax received Degen tips? Is that income?

Hosts /the-library — Moderates /gen-art /deca /newmasters
— Designs graphics + UI / Crafts code + technology / Collects art / Loves books / Builds community

Need to review this with my tax advisor. Generally airdrops are considered income but if you declare it as real tips it would be seen as tax free gifts.

Thanks. But income valued in the moment you receive it and for any gains afterwards same rule applies (25% on gains within the first year, afterwards tax-free)?