How to record crypto income on Sharesight?

[JohnnyS]

How can I record crypto interest income from staking on sharesight? E.g. I had some Cardano, I took it off exchange, staked it on Nexo, have a small amount of extra units, now have sold the whole lot. I need to record the income and then the sales.

Otherwise I am selling more units than I have from the original purchased amount on Sharesight. Thanks in advance

[JohnnyS]

I found a way to “adjust” it by using Bonus but this does not show up in the taxable income report.
Can Sharesight please add a feature for the “other” (Custom) holdings to have a interest income or staking income for Crypto please that ALSO shows up in the taxable income report. As you can see from the 3rd screenshot - the Bonus doesn’t show up as taxable income.

[Piumi_Sharesight]

Hi @JohnnyS, can you check if the following approach works for you.

1. Add the interest income under ‘all income’, you will have to mention it equivalent to the instrument currency you have picked when creating the custom investment.
2. Use the ‘dividend reinvested’ option to add the ADA units received.
   With this approach you will have the interest income recorded in your taxable income report and the number of ADA units correctly recorded.
   Let us know how you go. Please reach out to Sharesight support via the chat icon in the bottom right hand corner if you have any questions.

[JohnnyS]

Thank you! That seems to resolve it. So should we record Crypto staking income as “interest income” in our tax returns? OR where should it appear? Thanks

[Jack_Sharesight]

With anything specifically related to tax/your tax return, it’s best to contact a tax professional for advice