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Ramsey 🎩🤝
@ramsey
I have not even thought of tax implications (not in US, and my country does not do C2C taxes, or tax airdrops). But yeah, @ds8 raises a good point. So... Devs of upcoming projects with drops... Can we say up to 20-30% of previous drops can be sold, for tax purposes? That still makes an incentive for people to hold most of the tokens, but not hurting them financially or making them have trouble with the IRS?
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Dry Tortuga
@dry-tortuga
yep if you're in the u.s. and you hold the airdrop without selling any, it's just a gamble that the tokens are worth more in the future than they will be on day 1. not to mention, most airdropped tokens peak in value on day 1 and then take a very long time to surpass that price, if they ever do
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Ramsey 🎩🤝
@ramsey
Yeah, if I was in the US, I'd immediately sell the tax part of any and all airdrops. Just makes it easier for following and reporting
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Dry Tortuga
@dry-tortuga
I'll normally do sell 50%, keep 50% if its a larger airdrop. I think only 1 I've ever received has gone up in value since airdrop day 🙃 Obviously for these small $5-10 farcaster ones, I'm okay just holding onto it for a bit
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Ramsey 🎩🤝
@ramsey
The amount and potential price action is definitely something to consider. For DYM and TIA drops (good times in Atom sphere), I had a feeling it would rise. And they did. Definitely a good call on not selling it all on Day 1. (I also had a feeling a lot of other drops would be good, but alas, they went straight down, such as EVMOS). So I usually (for drops above $50), sell 50%, and leave a bag in case it pumps
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