raybayfay

4 ms·

1. 1.▲
   by raybayfay 9y ago

   Responded somewhere else; but to be fair hard forks should be unrealized gain with 0 cap gains. IF/when someone wants to cash out is when they should pay the tax. It resolves the bad actor issue with scam coins; meets the need to pay t
2. 2.▲
   by raybayfay 9y ago

   Sure I agree that there be a way to differentiate, but the only reasonable approach is that the new fork coins should be unrealized gains until when (or if) you use them (aka trade/sell). It has a 0 cost basis until proven otherwise.
3. 3.▲
   by raybayfay 9y ago

   exactly
4. 4.▲
   by raybayfay 9y ago

   Once again - you expect people to somehow magically track the value on 20 hard forks in 2017, many are scam / not listed on US sites / unclear value, and on the 50 hard forks in 2018? Not possible - not feasible - and goes counte
5. 5.▲
   by raybayfay 9y ago

   Really? So you're going to declare income on the 20 hard forks in 2017 (many were scams / questionable value... if any, also not listed on US exchanges), and on the 50 hard forks this year? Don't you think this is a bit insan