Scam airdrops with a "perceived" value

Tax Questions
#1

I was airdropped a shitcoin scam on BSC by the name of “minereum”.

Now this is an established scam, yet for instance on poocoin it has a value (from washtrading I presume).

Going by this, I’m now on the hook for a 10000 usd tax bill? I can’t do anything with these coins, you can’t sell them.

What is the best way to go about declaring this? It’s still in my BSC wallet, and shows up on my “end of year balances” toward the top because the “value” is high.

How do I fix this absolute nuisance? I’ve set the value for the “aridrop” at 0, but it looks odd to the IRS that the value on eoy balance print is very high.

#2

I see an option in settings to ‘Treat Airdrops as income’, I’ve turned it off. In Canada I think it’s only when you sell or use the proceeds of an airdrop for a purchase that it becomes claimable. Maybe different for the US?

1 Like
#4

well, some airdrops are income, while others are not. this workaround may not apply in all jurisdictions. it does not where i live :-S

cheers

#3

Just noticed I’ve got it too. In my country airdrops like that are only taxable as Capital Gains when sold.

In your situation I would just delete the transaction. That also stops it being imported when you sync.

#5

“Soft” delete, that is. Permanent deletion results in reimport of the flawed transaction entry.

#6

I HAVE A SAME PROBLEM! I HAVE TOO MANY RUGPULL AIRDROP HOW DID U GUYS HANDLE ITstrong text

#7

soft delete is the way to go

#8

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