What are the tax implications of receiving cash back rewards in the form of digital currencies?

1 answers

• May 05, 2022 · 3 years ago
  As a third-party, BYDFi does not provide tax advice. However, when it comes to receiving cash back rewards in the form of digital currencies, it's important to consider the tax implications. Digital currencies are often treated as property for tax purposes, and receiving them as cash back rewards may be considered a taxable event. The tax treatment of digital currencies varies from country to country, so it's important to consult with a tax professional to understand your obligations and ensure compliance with the tax laws in your jurisdiction.
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