How does cryptocurrency affect the taxation of Amazon RSU income?

3 answers

• stefanoApr 27, 2023 · 2 years ago
  Yes, the use of cryptocurrency can have an impact on the taxation of income from Amazon RSUs. When you receive RSUs from Amazon, they are considered as ordinary income and are subject to taxation. If you choose to convert the income from RSUs into cryptocurrency, you will still need to report the fair market value of the RSUs as income for tax purposes. Additionally, any gains or losses from the sale or exchange of the cryptocurrency will also need to be reported and may be subject to capital gains tax. It's important to keep accurate records of your transactions and consult with a tax professional to ensure compliance with tax laws.
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• Bank HessSep 05, 2022 · 3 years ago
  Absolutely! If you receive income from Amazon RSUs and decide to convert it into cryptocurrency, you will still need to report the fair market value of the RSUs as income for tax purposes. The use of cryptocurrency does not exempt you from your tax obligations. Furthermore, any gains or losses from the sale or exchange of the cryptocurrency will also need to be reported and may be subject to capital gains tax. It's crucial to stay informed about the tax regulations in your jurisdiction and seek professional advice if needed.
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• Contreras HarveyDec 01, 2020 · 5 years ago
  Yes, cryptocurrency can indeed affect the taxation of income from Amazon RSUs. When you receive RSUs from Amazon, they are considered as ordinary income and are subject to taxation. If you choose to convert the income from RSUs into cryptocurrency, you will still need to report the fair market value of the RSUs as income for tax purposes. Additionally, any gains or losses from the sale or exchange of the cryptocurrency will also need to be reported and may be subject to capital gains tax. It's always recommended to consult with a tax professional to ensure compliance with tax laws and properly handle your cryptocurrency transactions.
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