Crypto Tax Question (Determining Short vs. Long Term Capital Gains For ICOs)
Hi All,
Looking to understand whether I would pay short or long term capital gains taxes as it relates to ICOs.
I know the short term is <1 year while long term is >1 year but when does the clock begin. Is it from the day I invested in an ICO or the day the coins were distributed (nearly a month after the ICO)?
For what its worth, I have clear records of me sending BTC to the ICO deposit address. However, the records on me receiving the coins are a bit off as I didn't claim my coins until well after they were distributed by the altcoin team.
For reference the IRS defines holding period as: "To determine how long you held the asset, count from the day after the day you acquired the asset up to and including the day you disposed of the asset"
Thanks!
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