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Title: Bitcoin IRS Update 2019. Links & Explanation of Changes. Post by: Searing on October 10, 2019, 08:52:56 PM Here is a link from the site www.bitcoin.tax (http://www.bitcoin.tax) on the IRS Guidelines 2019 update. If anyone should know these guys should have a handle on this. This so far is the most simple and quick explanation of the new Guidelines IRS 2019 I've found so far. Below is the link: https://bitcoin.tax/blog/irs-crypto-tax-faq/ (https://bitcoin.tax/blog/irs-crypto-tax-faq/) Add other links first as you see fit. The above link seems to lay to rest some of the more dire meanings flaying about on the Internet etc. Please feel free to post your own links and or views here as well. This applies to the USA. Thanks Brad Title: Re: Bitcoin IRS Update 2019. Links & Explanation of Changes. Post by: squatter on October 10, 2019, 11:41:52 PM https://bitcoin.tax/blog/irs-crypto-tax-faq/ (https://bitcoin.tax/blog/irs-crypto-tax-faq/) Add other links first as you see fit. The above link seems to lay to rest some of the more dire meanings flaying about on the Internet etc. There are still some big questions hanging out there. The IRS mentioned nothing about like-kind exchanges in prior tax years, which many altcoin traders have been employing for years. It's also not clear what the IRS means by "control" -- if you have access to private keys but not the software to exercise control over forked coins, does that meet the definition? I already concluded that hard forks have zero value at creation, so it's not too comforting that Bitcoin.Tax seems unsure: Quote What was not mentioned Airdrop and forks generally have no markets when they are created, so is there a zero FMV? |