How to claim staking rewards | Dock Documentation portal (2024)

FAQs

How to claim staking rewards | Dock Documentation portal? ›

To claim rewards on the DockJS UI, you will need to navigate to the Payouts tab underneath Staking, which will list all the pending payouts for your stashes. To then claim your reward, select the Payout all button. This will prompt you to select your stash accounts for payout.

Staking rewards are reported as "Other Income" on Form 1040 Schedule 1, with capital gains reported on Schedule D. Taxpayers must recognize income when they gain "dominion and control" over the rewards, which is typically but not always upon receipt.

In your Coreum (CORE) account, navigate to the Delegations section, click Manage and Claim Rewards. Next, select if you wish to Compound or Cash in your staking rewards then click Continue. Cash in: The reward amount is added to your available balance. Compound: The reward amount is redelegated to the same validator.

To view your rewards on the Staking Dashboard, navigate to the Payouts tab. Here, you can view the following: Total reward distribution for the current era. Timeline of your rewards payout history.

Tap the Staking Rewards Account you'd like to withdraw from. Tap Withdraw. Select the account or wallet you'd like to withdraw funds to, enter the amount you'd like to withdraw, and tap Preview Withdrawal. Agree to the terms and tap Withdraw Now.

Staking rewards and income tax treatment

The money value of additional tokens is ordinary income at the time you receive the tokens. You need to declare the income in your tax return as other income.

Yes, the IRS requires that you report cryptocurrency rewards or earnings even if you don't receive a Form 1099-MISC or Form 1099-NEC. Companies are not required to send you a Form 1099-MISC or Form 1099-NEC unless the income is $600 or more.

After you initiate the staking, there's not much to do other than wait. Rewards are deposited directly into your account according to whatever schedule the exchange has established.

The monthly bonus is given out once a month. The day it is given is generally random, but should typically be around the 15th. It is sent via Email as long as you have a confirmed Email. The monthly bonus is calculated based on your wagered since the previous monthly bonus.

Staking rewards MUST be claimed.

We recommend claiming rewards once a week.

Where do I report staking rewards on my taxes? ›

Report Ordinary Income: Staking rewards and other forms of ordinary income can be reported on Schedule 1 of Form 1040. Calculate Your Gains and Losses and Complete Form 8949: For each transaction, calculate the capital gain or loss, then use this information to complete Form 8949.

How to claim? Go to your Account > Settings > Offers and find the "Redeem Bonus Drop" form. Under this section you need to input the exact bonus drop code and hit Submit. Please keep in mind that codes are case sensitive.

The reason your crypto earns rewards while staked is because the blockchain puts it to work. Cryptocurrencies that allow staking use a “consensus mechanism” called Proof of Stake, which is the way they ensure that all transactions are verified and secured without a bank or payment processor in the middle.

Go to your Account > Settings > Offers and find the "Redeem Bonus Drop" form. Under this section you need to input the exact bonus drop code and hit Submit. Please keep in mind that codes are case sensitive.