Are Brave rewards considered as gift or income for tax purposes?

are they an income or only a taxable event when sold?

It depends on the law of your country.
But, yes, generally, gifts from companies are taxable. In many countries they are somehow equivalent to income. In other countries they are taxable events. i.e., they are taxable when sold.

No, it’s not considered a gift. Gifts would be that you did absolutely nothing for it and it was given. You’re doing something in exchange for the BAT. Therefore it can’t be considered a gift anywhere.

As to whether it’s an income and how that fits, that varies based on where you live and what you’re doing with it. Some places see crypto as property, some as cash, and others the same as stocks or other investments. All of those are reported and taxed differently, with many only being reported when you sell them. (in other words, like when you convert BAT to fiat, then it’s a taxable event).

If you want to know specifics, I would speak with a tax specialist in your region.

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Thanks a lot for your answer, I am in the US

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