Are airdrops taxable?
Yes. The IRS treats airdrops as ordinary income at fair market value when you receive them.
That FMV also becomes your cost basis if you sell later. Even if you didn't ask for it. Even if it's worth $12.
Track it or risk overpaying when you sell.
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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