What if you don't even know what was the price of that coin when you received it? Example either that coin is now 0 or doesn't exist or very little but coinmarketcap doesn't show anything on it?
we're still talking about staking rewards, right? can you give us an example of a coin this situation applies to?
technically, in a legal sense, it doesn't matter if you can't find the data now. you're still liable for the fair market value of the income received when you received it. if markets existed at the time (meaning your receipts had value and is thus income) then the data is probably out there
somewhere.in practice, nobody (including the IRS) is likely to care about or even notice your worthless, dead coins.
I mean im sure there are some wallets that might give you tons of coins for staking but you dont have a clue how much its worth? What if its not worth nothing? Also if its worth pennies and you get them every few days, you going to record 50 transactions for the year the moment you sell them each time?
this is why people say the USA tax code is really fucked up for mining/staking and also forks/airdrops. it's way too complicated and burdensome.