Hi I recently sacrificed to Richard Heart’s new project PulseChain this past summer. This was an exchange of ETH for Pulse. The Pulse will not be released until the Pulsechain network is up and running in a couple of months. The initial price for Pulse will be zero. The transaction shows this as a big profit. How can I edit this entry to show this transaction as it should be reported to the IRS. Can it be a loss? Any help would be appreciated. Thanks!
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Hello. Have you received any further info on this subject. Koinly lists the transaction as a taxable withdrawal. That doesn’t seem right.
From my understanding here on this one… I also sacrifice too for PulseChain.
Is that when you sacrificed your crypto… it is pretty much like making a withdraw and taking profit from your crypto and getting rid of it. Lets say $1000 worth of ETH or something… Well you have decided to take $1000 profit on your ETH holdings and therefore you will have a capital gains on that… So that is my understanding of this. This is why it will be considered a taxable withdraw It is not
Now when it comes to the Airdrop of PulseToken… This is why Richard set it up this way… so its airdrop and that the tokens are given and start at a zero value. So it will not be considered taxable income until you trade or sell tokens you receive from the airdrop.
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