The tax implication...

The tax implications of using, holding and selling GUAP  


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Joined: 4 months ago
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04/12/2019 5:05 pm  

The IRS considers virtual currencies like GUAP as property any transfer of ownership of that property can trigger a taxable event (similar to when possession of jewelry, a car, or a home is transferred). Please see below several links to resources on what this means for cryptocurrencies like GUAP. 


IRS Virtual Currency FAQ:


IRS Official Rulings on Q1: Does a taxpayer have gross income as a result of a hard fork of a cryptocurrency the taxpayer owns if the taxpayer does not receive units of a new cryptocurrency? and Q2: Does a taxpayer have gross income as a result of an airdrop of a new cryptocurrency following a hard fork if the taxpayer receives units of new cryptocurrency?:


Intuit TurboTax  "Tax Tips for Bitcoin and Virtual Currency":


"Bitcoin Tax Guide":

Bitcoin Tax Guide

This topic was modified 2 months ago 2 times by marqueslamb