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With the tax implications of cryptocurrency in the US, it's rude to 'airdrop' or give it to people without their consent.
by dublinben 7y ago
With the tax implications of cryptocurrency in the US, it's rude to 'airdrop' or give it to people without their consent.
- rasengan 7y agoThis is exactly the concern that the GooSig private airdrop addresses. Nobody has any obligation to claim their coins, and even if they do, it will be private and nobody will know. This is unlike Bitcoin forks or ERC-20 airdrops, because it’s 100pct opt-in.
- stevewodil 7y agoOnly taxable if you claim it and convert to fiat. How is free money rude?
- verdverm 7y agoYou have to pay taxes when claimed, and again when a transaction occurs. The rule is you need to pay taxes on the value when you receive them, and then the profit / loss when you convert them to fiat, or another currency. Both are taxable events.
- boring_twenties 7y agoThis is incorrect, it's taxable even if you never convert it.
- troquerre 7y agoIt’s not an ethereum airdrop which goes to an address you already own. You don’t have the coins until you deliberately claim them, so it’s opt-in.
- oh_sigh 7y agoMaking a mark in a private ledger does not count as a taxable event for anyone. If I say in my diary "I give $100,000 to dublinben", or "dublinben can claim $100,000 from me for free by just asking", nothing has happened yet from the perspective of the IRS.
- rvnx 7y agoHere is more the equivalent of "Here is a coupon to redeem 100,000 USD from me", which is essentially currency / debt already