On a BCH note of $$$ falling from the sky on it hitting the world at around $280 USD I think it was
looks like you MAY NOT have to pay income tax on this free $$ falling from the sky from the below tax link
IF YOU JUST LEFT IT ALONE AND DID NOT MOVE IT etc and/or ignored and or did not sell or move any of it
ie likely NOT a taxable event (from what I can tell from the link below...ask your CPA ..show them the link)
of which with 22 the last I counted Bitcoin Forks dropping cash from the sky..that could be spendy
https://www.law.cornell.edu/cfr/text/26/1.451-2so emptying out a your BTC wallet, then getting BCH wallet then running address thru again etc etc
may qualify as too much work with the above....and we are golden..not a taxable amount/event
so you do ZIP according to what I can tell above and it is likely NOT a taxable event
but I'd figure out what BCH and the other forks MAY cost you if IRS comes after us, as income
(the IRS really hates $$$ from the sky or gold from the ground w/o taxes...look at crypto minng)
thus, it is a long shot..but I'd be aware of this, and have an amount handy, just because...hey
its the frigging IRS, which goes by its own logic.
Rember, the IRS DID go after all 15 million people on coinbase and demanded passwords and everything
because they sued 3 guys who they suspected were cheating on taxes thru coinbase
so be aware the above link may not be the real deal and IRS could decide to spread FUD
and mess with this can of 22 forks dropping $$$ from the sky anyway and call it income for all of us
on all or any new forked BTC coins
but, calmed my nerves a bit, as this being unlikely...but ask your CPA and show him the link
just saying, I will have an amount on this on BTC forks at the end of the year anyway, I will
just hope I'm correct and won't have to add it on as gross income
later
brad
