A transferable token representing a position in staked assets and associated staking economics, such as stETH or rETH.
Selling, swapping, or using an LST as collateral follows the same rules as any token: a disposal at fair market value. The complication is basis: under the transfer position it is your original ETH basis; under the exchange position it is the value when you received the LST.
Only if sold through a broker. Receiving them from the protocol and holding them produces no form.
Source: No IRS guidance as of September 2026; IRS Notice 2014-21 (property treatment)
Last reviewed September 18, 2026. Tax rules change; confirm current law before acting.
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