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Sam (crazy candle person) ✦
@samantha
Does airdrop 1 count as self employment income, capital gains, or a gift? help pls 🫠
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Winston Laoh
@winstonlaoh
It’s counted as ordinary income at the price of the time of the airdrop. Any you sell after is capital gains.
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kevin j 🀙
@entropybender
wait what lol so you get taxed twice?
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Winston Laoh
@winstonlaoh
Naw, cause the “second time” you get taxed is only on the difference between the “first time” and when you sell it. Your cost basis for capital gains is the value of $degen when you first got it airdropped.
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