Post
Topic
Board Announcements (Altcoins)
Re: [ANN][KMD][dPoW] Komodo - Zcash Zero Knowledge Privacy Secured by Bitcoin
by
MrSunshine
on 31/03/2018, 13:41:56 UTC
Question about redeeming interest...

What is the best system I should follow to maximize my interest?
 Everyday, week , month etc...

Thanks in advance.
https://financialmentor.com/calculator/compound-interest-calculator
(scroll down the page a bit)

so, is it best to redeem interest daily

Keep in mind that in the US this is considered MINING income for tax purposes, so it must be tracked for record keeping purposes. Capital gain/loss taxes are also based on the amount claimed and the price of KMD at the time. This is why I usually just claim once a week. However, if the market seems high, I might hold off until it goes a bit lower. Remember when you cash out to fiat, the US gov. will want to know the asset trail. Just trying to point out that since you control when you claim you can use it to your advantage to reduce taxes.