Tax implications of any possible Ethereum fork.

Cryptocurrency News and Public Mining Pools

Tax implications of any possible Ethereum fork.

Hi, I have some Ethereum on a hardware wallet that was UNFORTUNATELY purchased on Coinbase with its KYC The IRS already has ruled that forks and airdrops are classified as income meaning I would be charged tax for the value of the fork on the day i received it. This is a confusing cluster for me. I haven't been through this before. I might have to sell the fork on the first day just to be rid of it and put aside a portion for taxes but i don't even know if coinbase would let me send eth back to them to somehow sell the fork which they probably won't support. Any good advice is appreciated. Thank you.

submitted by /u/whisper_of_smoke
[link] [comments]