https://bitcoin.tax/blog/irs-crypto-tax-faq/
Add other links first as you see fit. The above link seems to lay to rest some of the
more dire meanings flaying about on the Internet etc.
Add other links first as you see fit. The above link seems to lay to rest some of the
more dire meanings flaying about on the Internet etc.
There are still some big questions hanging out there. The IRS mentioned nothing about like-kind exchanges in prior tax years, which many altcoin traders have been employing for years. It's also not clear what the IRS means by "control" -- if you have access to private keys but not the software to exercise control over forked coins, does that meet the definition?
I already concluded that hard forks have zero value at creation, so it's not too comforting that Bitcoin.Tax seems unsure:
Quote
What was not mentioned
Airdrop and forks generally have no markets when they are created, so is there a zero FMV?
Airdrop and forks generally have no markets when they are created, so is there a zero FMV?
