The IRS issues a guidance on the tax treatment of cryptocurrency hard forks
The Internal Revenue Service (IRS) issued new guidance on the tax obligations related to cryptocurrency hard forks, addressing some of the outstanding questions unanswered in the agency's first report, which was released back in 2014. Today's guidance states new cryptocurrencies received from a hard fork are considered taxable income. On the other hand, new cryptocurrencies issued via a hard fork that are not received by the owner of the original coin do not have to be reported as gross income.
See the full report here.
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