Members-only forum — Email to join

1099 Tax Issue — DeFi yield farming tax treatment

Started by first_time_trader_question · Feb 14, 2023 · 3,059 views · 8 replies
For informational purposes only. This is not legal advice. Laws vary by jurisdiction. Consult a qualified attorney for advice specific to your situation.
FT
first_time_trader_question OP

I'm dealing with a situation and need some guidance.

DeFi yield farming tax treatment. I've been dealing with this for about 11 weeks now and the situation isn't improving.

I have already consulted briefly with a lawyer but got conflicting advice.

Has anyone been through something similar? What worked for you?

WF
worried_freelancer_advice

Following this thread — I'm in a very similar situation. Would love to hear how it turns out.

AS
anon_seller_NY

I had a similar issue and ended up consulting with an attorney. It was worth the $200-300 for the initial consultation just to understand my rights.

HM
help_me_student_NC

Following this thread — I'm in a very similar situation. Would love to hear how it turns out.

AF
asking_for_friend_tenant_OH

I had a similar issue and ended up consulting with an attorney. It was worth the $200-300 for the initial consultation just to understand my rights.

TL
Mod_TermsLaw Moderator

Attorney here. Here's my take on the legal issues.

There are several legal theories that could apply here. The strongest is probably the relevant statute, which requires showing actionable.

The practical consideration here is cost vs. potential recovery. For disputes under $10K, small claims court is often the best route.

JC
just_curious_employee_GA

Following this thread — I'm in a very similar situation. Would love to hear how it turns out.

NH
need_help_seller_2023

This happened to me too. Have you tried filing a complaint with the relevant agency? In my case they investigated and it got resolved without needing a lawyer.

JC
just_curious_worker_OH

I work in this industry and unfortunately this is very common. The good news is that when people actually push back with legal representation, companies usually settle.

Want to participate in this discussion?

Email owner@terms.law to request access