Ripple (XRPUSD)

[MindlessSelf]

Ok I think I understand now the concept of the flare air drop to make it non taxable income. First air drop no trade history so no value and therefore no taxable income.

All other subsequent airdrops, a small amount of FLR is burned so that we are paying for our FLR with each drop. They said it will be an insignificant amount that will be burned, but it will be enough to say that it wasn’t given free to us. We had to purchase it.

So according to their tax accountant who issued them a memo, the only tax that has to be declared is the capital gains at time of sale.

Now unfortunately none of us have that memo and it will be difficult for us to provide evidence of this if we were audited. So we still are always at risk with irs if they don’t buy this argument.