Does airdrop 1 count as self employment income, capital gains, or a gift? help pls 🫠

they/them, candlemaker at 🕯️humankind🕯️, seemore.tv/humankind, hosting /samantha and /humankind

It’s counted as ordinary income at the price of the time of the airdrop. Any you sell after is capital gains.

Venture Partner at marinventures.com | Security Consultant at horizonslaw.io | Cybersecurity M.S. Candidate at gatech.edu

@operator & /operator | BCI, bioinformatics, search, chaos, decentralized AI, the future of news

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.