Re: [ANN] Bitcoin Cash - Fork 1:1 of Bitcoin - Pro on-chain scaling - Cheaper fees
Do you know how to handle Bitcoin Cash from tax perspective? Is it income or more a gift? What do you think?
No clear statement from the IRS - not like they get the last word anyhow.
I think the closest analogy in more traditional areas would be a corporate spinout - like when hewlett-packard split into HP Inc (HPQ) and Hewlett-Packard Enterprise (HPE). I'm treating it accordingly.
Seems like it is really hard to handle that correctly. Every tax consultant out there is overhelmed with this question...