Viewing articles tagged 'income'
Yes. When you receive property, including virtual currency, in exchange for performing services,...
Do I have income when a soft fork of cryptocurrency I own occurs?No. A soft fork occurs when a distributed ledger undergoes a protocol change that does not...
Does virtual currency received by an independent contractor for performing services constitute self-employment income?Yes. Generally, self-employment income includes all gross income derived by an individual from...
How do I calculate my income from cryptocurrency I received following a hard fork?When you receive cryptocurrency from an airdrop following a hard fork, you will have ordinary...
How do I calculate my income if I provide a service and receive payment in virtual currency?The amount of income you must recognize is the fair market value of the virtual currency, in U.S....
If I engage in a transaction involving virtual currency but do not receive a payee statement or information return such as a Form W-2 or Form 1099, when must I report my income, gain, or loss on my Federal income tax return?You must report income, gain, or loss from all taxable transactions involving virtual currency on...
One of my cryptocurrencies went through a hard fork but I did not receive any new cryptocurrency. Do I have income?A hard fork occurs when a cryptocurrency undergoes a protocol change resulting in a permanent...
One of my cryptocurrencies went through a hard fork followed by an airdrop and I received new cryptocurrency. Do I have income?If a hard fork is followed by an airdrop and you receive new cryptocurrency, you will have...
Where do I report my ordinary income from virtual currency?You must report ordinary income from virtual currency on Form 1040, U.S. Individual Tax Return,...
