Crypto Staking

We have just released version 1 of Crypto Staking support.

Inside any of your crypto holdings, you’ll now see an ‘Income’ section. This is where you can manually record any crypto staking income you have received.

It will create a record in the ‘Income’ section to reflect the income amount you received. It will also create an adjustment record in the trades section, to reflect the quantity you have received towards your overall position.

Version 2 (coming soon): Will allow you to set the percentage staking rate for a particular holding and Navexa will auto calculate the staking records and add them to the holding.

Please let us know all your feedback around this feature here so we can build the best experience for all of you.

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the addition of crypto staking is great, I can finally update my positions with the units received over the past 6 months or so.

Any plans to add this ‘income’ to the ‘Dividend Performance’ in portfolio view, maybe with an optional toggle switch – “Include crypto income” or something similar. Would be nice to see an overall view of income from both Dividends + Staking Rewards.

Interesting suggestion. The one problem is, unlike a dividend, a staking reward is not received as cash rather it is more quantity to your original crypto holding.

We could definitely include it in the income charts etc though and calculate what the cash value of the reward was on that date (which we do behind the scenes anyway).

Good point, but just as typical equities are split into Captial Gains and Income Return, with the ‘Income Return’ column adding to the ‘Dividend Performance’

Whether I receive this income as cash or additional units, I’m still having to pay tax on this income for that FY, so this is why at a glance it would be nice to see a graph showing the total of my potential tax liability for the reporting period.

Which leads me to my next point, we’re probably going to start thinking about how to include Staking Reward income into the Taxable Income Report, or defining a new report to include this income for tax purposes.

Yes we will be including it in the Taxable Income Report shortly.

Phase 2 of this change is to automate the addition of staking records by allowing you to set a % rate at which you are earning at.

Then we’ll be adding it to the tax reports, ready for EOFY.

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