The APY you earn with Donut can be considered interest income and is taxable. However, we recommend that you contact your tax advisor, who will know best about how to accurately report your earnings.
Please note that it is your obligation to report income earned from Donut to the IRS.
If you're filing Form 1040, follow these steps:
Log in to the Donut web dashboard
Press Download Tax Statements
Select the correct fiscal year to generate a CSV File
Add your interest earned to Schedule B of Form 1040
Complete the rest of your taxes!
If you're not filing a Form 1040, or have a more complicated tax case, share the CSV file you generated with your tax advisor.
Here’s some information that your tax advisor might find helpful:
Donut earnings are likely considered interest income and not capital gains.
Donut’s Address is Donut, Inc., 6121 Sunset Boulevard, Los Angeles, CA 90028, United States.
Donut’s Tax Identification Number (TIN) is: 61-1929355.
If you're stuck, chat with us in your dashboard or drop us an e-mail at [email protected]. Our team is always happy to help, but unfortunately can't give specific tax advice, and we will always encourage you to contact your tax advisor for tax specific advice.