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https://warpcast.com/~/channel/cryptotax
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Ben
@benersing
Are airdrops taxed as ordinary income?
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Thibauld
@thibauld
yup
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Leo
@lsn
I guess it’s like a dividend?
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jaxonbattery
@jaxonbattery
IRS FAQ: "you will have ordinary income equal to the fair market value of the new cryptocurrency when it is received, which is when the transaction is recorded on the distributed ledger..." https://www.irs.gov/individuals/international-taxpayers/frequently-asked-questions-on-virtual-currency-transactions
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bm.nJoi
@njoi.eth
Conceivably we could just cause massive tax burdens for all of web3 by just doing airdrops from here on out… THAT WILL BE SO FUN!! Not. This terrifies me, as a USA person who already struggles to accurately report crypto trades across dozens of wallets etc… fuggg
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