The BAT in your Brave Rewards wallet is vBAT (virtual BAT) and has no monetary value. It is like a game currency or a rewards program and just like in those systems you are limited on how you can use them. It is only when you send it to a custodial account that it is converted to the actual BAT token. The BAT token can be bought, sold, or swapped and has a monetary value.
Disclaimer here, I am not in any way shape or form giving you tax advice! lol Saying that, I would look into the taxing authority regulations for gaming/reward programs and find out what the reporting requirements are for virtual currency.
This is a recent topic post explaining in more detail about vBAT and BAT in general. Just be cautious when reading, sometimes the distinction between vBAT and BAT is blurred.
That makes more sense! I’ll bring that up to the tax accountant. She hasn’t been responsive lately, but understandably so, I’ve still yet to have all the wallets linked up, and it sounds like their all swamped with work.
She did mention that all the minted tokens, even if they’ve yet to be sold, should be logged via a coin tracking platform anyways. But since I couldn’t find a way to link up the reward wallets, that’s where I was stuck.
I see that on the VBat wallet, it allows you to individually download the statements that log all the payouts, is there a way to batch download this, or possibly have an annual statement log of it all to have the files simplified?
Unfortunately, neither of these options are available as far as I know. That would be a great feature request though! I’m surprised they haven’t implemented this. It would make life a lot easier for a lot of people. You can’t even print or otherwise download the monthly statement either unless I am missing something. Just wrong!
Well, I think but don’t know for sure, this goes back to vBAT vs BAT. You don’t actually have a minted BAT utility token in your Brave Rewards wallet and won’t unless you convert your vBAT to BAT.