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Forks are a unique economic situation. I think a slightly more accurate metaphor is if someone printed money and mailed it to you. A cost basis of 0 on a sale
by heed 7y ago
Forks are a unique economic situation. I think a slightly more accurate metaphor is if someone printed money and mailed it to you.
A cost basis of 0 on a sale is the most "fair" way to account for forks/drops/etc. imo. Otherwise there's too much burden on the individual to keep track of all the many forks that occur.
- JumpCrisscross 7y ago> Forks are a unique economic situation Companies pay stock dividends, in themselves or in a subsidiary they're spinning out to shareholders, all the time. Using a reasonable materiality threshold (which would allow for ignoring novelty forks) this isn't a challenging accounting problem.
- Scoundreller 7y agoBut the paying Corp needs to declare dividends. If it’s not declared properly, it’s usually treated as highly taxed income. Source: warning from an accountant on self-owned corporations