Brave rewards tax questions!

Brave Rewards Rewards Support
1

I withdrew about $10 in BAT through Uphold, and Taxbit (a built-in optional app for Uphold) notified me that I had created a “taxable transaction” by doing this.

So, I’m wondering

  1. is this really a taxable transaction?
  2. If it is a taxable transaction, then apparently I’m supposed to calculate the pooled “cost basis” of the BAT at the “time of purchase.” Since I didn’t purchase the BAT from Brave Rewards, would my “cost basis” be $0.00? Or would it be the value of the BAT in USD at the time they were awarded to me?

I know $10 is not a big deal, but at the same time, the IRS seems to care about every penny they appropriate, so I’d like to know I’m not creating even a tiny liability through non-compliance.

I would appreciate any insight into this!

2

well you have to inform yourself about paying taxes in your country. in germany for example there is the “Gewerbeschein”, with it you can run a small business, you send your transactions from your business to them and they calculate the tax you have to pay.

3

Yes, my bad, I did not mention: I am a United States citizen.

4

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