Basically the title. I'm using Brave Browser because I heard it pays you to view ads, and it does. I have 30USD worth of BAT right now. I just went through all the verification stuff in GEMINI, now it says I have 30USD of BAT. So if I sell this, do I need to pay taxes on it? I read from another post crypto requires taxes no matter how little the transaction is, I'm really not in the mood to add complexity to my taxes, so I feel like I'd just wait longer maybe once I have like 100USD+ in BAT to sell it so I don't have to keep doing the tax over and over each year.


Not just when you sell. You owe taxes already, and more if you sell in the future.


First, the tokens Brave gives you are immediately taxable income.

A taxpayer who receives virtual currency as payment for goods or services must, in computing gross income, include the fair market value of the virtual currency, measured in U.S. dollars, as of the date that the virtual currency was received.

The same is true for mining:

Yes, when a taxpayer successfully “mines” virtual currency, the fair market value of the virtual currency as of the date of receipt is includible in gross income.

If you sell them later, the difference between their value at the time they were given to you and the time you sell them is a taxable capital gain/loss.

A taxpayer generally realizes capital gain or loss on the sale or exchange of virtual currency that is a capital asset in the hands of the taxpayer. For example, stocks, bonds, and other investment property are generally capital assets.

  • 2
    (All that said, the IRS is fairly unlikely to act on $30 of this sort of income for similar reasons they don't hunt people down for not reporting a $20 they found on the sidewalk.)
    – ceejayoz
    Sep 11 at 14:37
  • thx im just not gonna file then, too complicated Sep 11 at 15:10

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