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/biz/ - Business & Finance

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22427213 No.22427213 [Reply] [Original]

You recognize any capital gain or loss on the crypto asset you exchange away for minting the aToken.
When you earn interest for lending out your crypto on Aave, you receive more of that asset’s aToken. The aTokens you receive are taxed as income. So if you earn 50 aDAI and each aDAI is $1.00, you are liable for income tax on that $50 of aDAI.
You realize capital gains or losses when you burn / trade out of your aTokens. When doing so, you may realize capital gain or loss if the price of the underlying asset increases or decreases.

You didn't deposit on AAVE and create a taxable even, did you anon?

>> No.22427236

>>22427213
event*
Source: tokentax
dot
co/guides/defi-crypto-tax/#ctoken-and-atoken-tax-treatment

>> No.22427246

>>22427236
>>22427213
please consider necking yourself
you scared little faggot child

>> No.22427322

>>22427213
You will not be able to calculate what you're doing unless you started this year knowing your adjusted cost basis and liquidate before December 31st 11:59 PM. If you fag it out till next year and you will have to launder.

>> No.22427803

I want to coom inside that meme

>> No.22427978

>>22427213
How much ARPA does this woman hold?

>> No.22428025

>>22427213
op just about everyone buying and selling any coin has to pay taxes. There is no going around it. It's not ideal, but that's the rules. Instead of trading, you could invest long-term by spending money here and there without chasing satoshis.

>> No.22428028

$300k cap gains pakd in 2017 anon here. I things the right way and I will tell you I’ll take a picture of my dick and send it to the IRS if they ever EVER came at me with some shit to pay taxes on my atoken conversion. The interest I report but no thats not a sale. Wrapping ETH isnt taxable. Get fucked tokentax.

>> No.22428467

>>22428028
The tokens emitted from the contract would be treated like an air drop. Then as a negative air drop when you returned them and pulled out your original tokens. Also good fucking luck figuring out the real time fiat values of interest payments and how to do it over arrangements that bridge multiple years. This is shit that normally requires financial institutions to hire enterprise accountants. Handling enterprise finance in terms of pegged barter transactions will require you to write your own fucking software.