On some trading places, you can lend your coins to other users. The coins that are credited as ‘interest’ are initially recorded in the One Wallet app as deposits and should be classified as lending income. The certified One Wallet solution shows these coins as other income in the report.
The tax treatment is the same as income earned from Proof of Stake.
Note 1: In case of several small payments, classifying all payments can be time-consuming. Therefore, you can use manual data import for pre-classification and save time.
Note 2: Some fake business models are offering ‘lending’. Also known as Ponzi Schemes, where coins aren’t really ‘lent’ but old investors receive new one's money. In such a case you do not receive any interest and it can be classified as ‘lending’ and your original investment can be entered on a temporary basis.
Note 3: This classification covers only lending revenues which have been earned as 'private lending'.
