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Friday, December 03, 2021 5:38:32 AM
1. First in first out rule of trading. Which means if you’ve been accumulating one coins for years as you cash out … the difference goes against your first coin and so on and not based on cost average. That basically means you need a running tab on your trade from day one.
2. According to the airdrop … the initial drop is considered taxable income but only when you have full control of the asset. So even though CPRX hit my ABRA account at $2.14 two weeks ago … I cannot buy sell or trade that asset as a US user until December 21. That’s a game changer because it dropped like a rock.
3. The initial drop is taxable income but should you trade out of it you only owe short term capital gains for gain or loss of the coin at the time you trade into. So in the case of VGB. Let’s say it’s released at $40 that’s a total of $40k income. Rather then seeing what happens … if you trade immediately into something more stable like XRP you may owe zero on the trade or if you trade our at $35 to XRP you can take a $5k deduction on the trade bringing your taxable income to $35k and not the original $40k. Is that how I’m reading that? Maybe get it into something stable immediately and then decide if you want to buy back in or not when the dust settles.
Thoughts?
Recent XRPUSD News
- XRP Price Poised for a Bullish Path Unless This Support Paves Way • NEWSBTC • 07/11/2024 04:18:41 AM
- Price analysis 7/10: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB • Cointelegraph • 07/10/2024 05:25:27 PM
- XRP Price Set For Comeback: Breaking This Resistance Could Trigger Recovery • NEWSBTC • 07/10/2024 04:28:41 AM
- Crypto Whales Buy The Dip As $22 Million In XRP Flows Out Of Binance • NEWSBTC • 07/09/2024 09:30:57 PM
- Crypto Analyst Predicts XRP Price Crash Fall To $0.07 Amid Triangle Breakdown • NEWSBTC • 07/09/2024 09:35:04 AM
- XRP Price Finds Relief: Will It Break Past $0.45 Amid Numerous Hurdles? • NEWSBTC • 07/09/2024 04:48:24 AM
- XRP Price: Crypto Analyst Identifies ‘Point Of Control’ That Could See A Repeat Of 2017 • NEWSBTC • 07/08/2024 11:00:17 PM
- Price analysis 7/8: SPX, DXY, BTC, ETH, BNB, SOL, XRP, TON, DOGE, ADA • Cointelegraph • 07/08/2024 06:56:24 PM
- XRP Gearing Up For Phenomenal Breakout As Legal Expert Reveals Imminent End Date For SEC-Ripple Case • ZyCrypto • 07/08/2024 05:16:26 PM
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- XRP Bulls Face Continued Pressure: Key Challenges Ahead • NEWSBTC • 07/08/2024 04:31:03 AM
- XRP Stages A Comeback: Aims To Reclaim $0.50 After Recent Plunge • NEWSBTC • 07/07/2024 03:00:53 PM
- Pundit Predicts Ripple’s XRP Surge To $200 In Case Of “Full Logarithmic Follow-Through” • ZyCrypto • 07/06/2024 10:23:09 PM
- $26 XRP Price Still in View as Ripple CTO Cites its Practical Utility in the Trillion-Dollar Payments Market • ZyCrypto • 07/05/2024 09:56:50 PM
- Buy The Dip? XRP Whales Doing Exactly That – Is A Price Rally Next? • NEWSBTC • 07/05/2024 09:30:16 PM
- Prominent Hedge Fund Exec Blasts Cardano And XRP As “Cult Meme Coins” • ZyCrypto • 07/05/2024 08:55:31 PM
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- Price analysis 7/5: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB • Cointelegraph • 07/05/2024 06:00:43 PM
- XRP Holds Bullish 2014-2017 Pattern Unless This Happens: Analyst • NEWSBTC • 07/05/2024 05:00:17 PM
- XRP Lawsuit: SEC Sticks to $2 Billion Fine on Ripple As Pressure On XRP Soars — Is This Your Buy Signal? • ZyCrypto • 07/05/2024 01:47:03 PM
- Why is XRP price down today? • Cointelegraph • 07/05/2024 08:34:40 AM
- Bitcoin Price Crashes Below $54,000: Top-5 Reasons • NEWSBTC • 07/05/2024 08:00:18 AM
- XRP Price Crashes 15%, Slips Under $0.40: Difficult Recovery Ahead • NEWSBTC • 07/05/2024 03:58:37 AM
- XRP Stars Align: Indicators Point To Possible 7,500% Rally To $35 • NEWSBTC • 07/05/2024 02:00:29 AM
- $6 XRP Price Very Likely as Recent Ruling on Crypto Secondary Sales Bolsters Ripple vs. SEC Case • ZyCrypto • 07/04/2024 07:49:41 PM
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