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Don't sell the tokens for fiat. The token transfer itself isn't taxable (at least in my jurisdiction it works like this).
by jobigoud 5y ago
Don't sell the tokens for fiat. The token transfer itself isn't taxable (at least in my jurisdiction it works like this).
- Taek 5y agoThis doesn't work in the US. The IRS guidance states that the moment you received the tokens, you've incurred a tax burden. Refusing to sell the tokens protects you from capital gains taxes, but capital gains taxes only applies to tokens you purchased in the first place. Tokens you were gifted counts as income.