If you send crypto to the wrong wallet
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How To Avoid Crypto Taxes: Cashing outAny airdrop into your wallet will likely be viewed as ordinary income by the IRS, who are likely to consider it an ascension to wealth and should be reported as. Any capital gain resulting from the sale of an airdrop or bounty is subject to Capital Gains Tax. The gain is calculated based on the difference between the. For most investors, airdrop rewards should be reported on Form Schedule 1 as 'Other Income'. A description such as �crypto airdrop�, should be entered on.
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