Hi @ColeenD3,
Thank you for the reply. Just to clarify, the taxable event I am referring to is specifically for the new cryptocurrency I received as a result of a hard fork. Since I haven’t sold or traded this currency (it is sitting in my wallet), do I still enter this transaction under the “Cryptocurrency” category for Wages and Income? Do I put the Cost Basis as $0 (since it was ‘free’) and the Proceeds as the fair market value (FMV) at the time the transaction was recorded?
Or is there somewhere else to enter this as regular income (per the IRS)?
