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What if there's no active market at the time of the fork? For example, on October 24, 2017 for Bitcoin Gold, or on December 12, 2017 for UnitedBitcoin, there wa
by panarky 9y ago
What if there's no active market at the time of the fork? For example, on October 24, 2017 for Bitcoin Gold, or on December 12, 2017 for UnitedBitcoin, there was no market. What do you do?
What if there's an illiquid market with crazy prices at the time of the fork. Do you use that market price even if you're physically unable to sell your forked coins on that market?
- sushid 9y agoI'm not a CPA either but considering it income on the day of the fork is assured not a burden on you. That means you have tax obligations on all potential future forks, regardless of whether you know it or do anything with that information. IIRC the suggestion I found online was to pay capital gains tax on the full amount you sold or exchanged the coin for.