What the IRS Tax Rule Update Means for Bitcoin Forks

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Earlier this month, the IRS announced an update to its rules for how forked crypto is taxed, using Bitcoin Cash as a sample case.
Some context: in 2017, a new cryptocurrency called Bitcoin Cash (BCH) was spun off of the original Bitcoin blockchain in a development process called a “fork.” Since the split, BTC and BCH have operated on two distinct, incompatible blockchains. However much Bitcoin you held at the time of the fork was how much Bitcoin Cash you ended up with. The IRS has said for years that this is a taxable event, since you’re essentially getting free money.
What’s been less clear is when exactly those taxes kick in. The value of individual coins can fluctuate significantly from hour to hour; do you pay taxes on the value of your new tokens the moment you get them, or the moment you first transact them?
Now, the IRS has clarified that you have to pay taxes on the value of that forked crypto as soon as you have “dominion and control” over it—which is to say, as

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Źródło: https://decrypt.co/68761/irs-tax-rule-bitcoin-forks

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