How does this affect my taxes?
Disclaimer: We do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.
In general, any earnings generated from crypto or crypto related activities, such as DeFi and Normal Lending, are considered capital gains in the United States.
They are taxed accordingly.
We recommend you use a crypto tax software and enter the crypto wallet address of your Normal account to pull all transactions made on Normal Lending.
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