#USCryptoStakingTaxReview Here’s a **clear, up-to-date U.S. tax overview focused on crypto staking (especially for Binance / Binance.US users) under the tag #USCryptoStakingTaxReview:

📌 1. U.S. Tax Rules for Crypto Staking

🧾 IRS Treatment

The IRS treats cryptocurrency as property for U.S. tax purposes. �

@BinanceUS

Staking rewards count as ordinary income at the fair market value (FMV) when you gain control of the tokens. This is based on IRS guidance (Revenue Ruling 2023-14). �

BDO

That income must be reported on your U.S. individual return (Form 1040). �

@BinanceUS

📍 Key point: Even if you don’t sell the reward yet, you owe tax when you receive and control it.

📌 2. How This Applies to Binance.US

🏛️ Tax Filing Requirements

Binance.US is a U.S.-regulated exchange and must comply with IRS reporting rules. �

CoinLedger

They issue Form 1099-MISC for staking rewards (and other crypto income) if you earn ≥ $600 in a year. �

CoinTracker +1

📅 Updated Reporting (2025 forward)

Starting with the 2025 tax year, Binance.US (and other U.S. brokers) will also send Form 1099-DA reporting gross proceeds from crypto trades and transactions, including staking reward sales/exchanges. �

CoinTracker +1

This means the IRS will have more visibility into your cryptocurrency activity.

📌 Important:

Binance.com (global platform) does not operate in the U.S. and typically doesn’t directly report to the IRS. �

CoinLedger

However, you as a U.S. taxpayer must still report any taxable income or gains from crypto even if earned off-exchange.

📌 3. Staking Income: What You Owe

✍️ When Are Taxes Triggered?

✅ Receipt of staking rewards: taxable as ordinary income at FMV on the day received. �

❌ Just holding staked tokens isn’t taxable until you receive new rewards.

BDO