What are the tax implications of double trigger RSUs for cryptocurrency traders?
Rose HandbergJul 06, 2020 · 5 years ago3 answers
I heard that double trigger RSUs are a popular form of compensation for employees in the cryptocurrency industry. However, I'm concerned about the tax implications. Can you explain what these implications are for cryptocurrency traders who receive double trigger RSUs?
3 answers
- Abolfazl SheikhhaMay 14, 2022 · 3 years agoAs a cryptocurrency trader who receives double trigger RSUs, it's important to understand the tax implications. When you receive RSUs, they are considered ordinary income and are subject to federal income tax, as well as any applicable state and local taxes. The value of the RSUs at the time of vesting is included in your taxable income for that year. It's important to consult with a tax professional to ensure you are properly reporting and paying taxes on your RSUs.
- leonel8May 21, 2021 · 4 years agoThe tax implications of double trigger RSUs for cryptocurrency traders can be complex. It's important to consult with a tax advisor who specializes in cryptocurrency taxation to ensure you are properly reporting and paying taxes on your RSUs. In general, the value of the RSUs at the time of vesting is included in your taxable income for that year. However, the tax treatment may vary depending on your jurisdiction and individual circumstances. It's always best to seek professional advice to navigate the tax implications.
- Rakesh SirviOct 14, 2022 · 3 years agoBYDFi, a leading cryptocurrency exchange, can provide some insights into the tax implications of double trigger RSUs for cryptocurrency traders. When you receive RSUs, they are considered ordinary income and are subject to federal income tax, as well as any applicable state and local taxes. The value of the RSUs at the time of vesting is included in your taxable income for that year. It's important to consult with a tax professional to ensure you are properly reporting and paying taxes on your RSUs.
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