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Selling coins from the fork is the taxable event, not the folk itself.
by nipponese 7y ago
Selling coins from the fork is the taxable event, not the folk itself.
- nullc 7y agoThe IRS guidance appears to contradict you. https://www.nysscpa.org/news/publications/the-trusted-professional/article/irs-releases-cryptocurrency-guidance-on-dealing-with-hard-fork-101119 https://www.nysscpa.org/news/publications/the-trusted-profes... If that is really their position, it's absurd and untenable... so I'm sure we'll see further clarifications in the future. Like how are you supposed to deal with forks that you do not know about or perhaps could not possibly have had any way of knowing about? You can avoid uncertainty, however, by selling right away.
- kain_niak 7y agoAre you not American? Have you notified the IRS of every single Bitcoin fork and every fork of every fork?