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Ronnie
Ronnie
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I have received a relatively small amount of the IOTA cryptocurrency as a donation. A reason for this donation is that sending such transactions helps in testing the IOTA network and transaction processing and that with some of the currency I will be able create such transactions on the network.

The total value of these coins is currently at less than $5000 USD according to the price listed here.

I do not know if it matters for my question but, currently the IOTA coin cannot be directly traded on any U.S.-based exchanges.

The question I wanted to ask is, do I need to list these coins in my 2017 tax return, and is this the case even if I donate them to someone else before the end of the year?

I have received a relatively small amount of the IOTA cryptocurrency as a donation for testing the IOTA network and transaction processing.

The total value of these coins is currently at less than $5000 USD according to the price listed here.

I do not know if it matters for my question but, currently the IOTA coin cannot be directly traded on any U.S.-based exchanges.

The question I wanted to ask is, do I need to list these coins in my 2017 tax return, and is this the case even if I donate them to someone else before the end of the year?

I have received a relatively small amount of the IOTA cryptocurrency as a donation. A reason for this donation is that sending such transactions helps in testing the IOTA network and transaction processing and that with some of the currency I will be able create such transactions on the network.

The total value of these coins is currently at less than $5000 USD according to the price listed here.

I do not know if it matters for my question but, currently the IOTA coin cannot be directly traded on any U.S.-based exchanges.

The question I wanted to ask is, do I need to list these coins in my 2017 tax return, and is this the case even if I donate them to someone else before the end of the year?

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Ronnie
Ronnie
  • 195
  • 2
  • 5

Do I Does my tax return need to report cryptocoins that I have received as donations in my tax return?

Source Link
Ronnie
Ronnie
  • 195
  • 2
  • 5

Do I need to report cryptocoins received as donations in my tax return?

I have received a relatively small amount of the IOTA cryptocurrency as a donation for testing the IOTA network and transaction processing.

The total value of these coins is currently at less than $5000 USD according to the price listed here.

I do not know if it matters for my question but, currently the IOTA coin cannot be directly traded on any U.S.-based exchanges.

The question I wanted to ask is, do I need to list these coins in my 2017 tax return, and is this the case even if I donate them to someone else before the end of the year?