Fireman05, you are correct. It sounds like you got an airdrop and yes it is taxable.The tax you owe is calculated based on the “fair market value” of the coin, regardless of whether it can be spent, exchanged, or transferred.
You should post it under:
- Income
- I'll choose what I work on
- Scroll down to Less Common Income
- Select Miscellaneous Income
- Scroll down and select Other Reportable Income
- YES you did have other reportable income
- Enter your Description and dollar amount.
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