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re: GameCoin(GMEX) Anybody still hodling?
Posted on 1/12/22 at 3:46 pm to Rize
Posted on 1/12/22 at 3:46 pm to Rize
quote:You hire a CPA to give you advice on how to pay the taxes on your $700,000 capital gain due to the hard fork?
Rize
quote:
A “hard fork” of a cryptocurrency owned by a taxpayer does not result in gross income for a taxpayer if the taxpayer receives no units of the new cryptocurrency, but taxpayers receiving an “airdrop” of units of a new cryptocurrency after a hard fork have ordinary gross income from the airdrop, the IRS ruled in Rev. Rul. 2019-24, issued Wednesday. The IRS also updated its Virtual Currency Transactions frequently asked questions on its website to reflect the ruling.
1
Posted on 1/12/22 at 5:46 pm to TigerTatorTots
quote:
You hire a CPA to give you advice on how to pay the taxes on your $700,000 capital gain due to the hard fork? quote: A “hard fork” of a cryptocurrency owned by a taxpayer does not result in gross income for a taxpayer if the taxpayer receives no units of the new cryptocurrency, but taxpayers receiving an “airdrop” of units of a new cryptocurrency after a hard fork have ordinary gross income from the airdrop, the IRS ruled in Rev. Rul. 2019-24, issued Wednesday. The IRS also updated its Virtual Currency Transactions frequently asked questions on its website to reflect the ruling.
I’m gonna reach into my piggy bank and write a check.
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