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If you use additional cryptocurrency to calculate your gains, losses, or import them into your coimbase not cost basis.
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Crypto Taxes Explained For Beginners - Cryptocurrency TaxesIf you earned more than $ in crypto, we're required to report your transactions to the IRS as �miscellaneous income,� using Form MISC � and so are you. Crypto received in a fork becomes taxable when you have the ability to transfer, sell, exchange or otherwise do something with it. See IRS FAQ Q21 - Q24 and Rev. If you're new to crypto, these rules may come as a surprise � but crypto holders have always been required to report income and capital gains made from their.