👥Referral Income
Last updated
Last updated
There has been no official guidance on Referral Income from the IRS and as such we recommend that you speak with your tax attorney or accountant about the best way to file your return.
Although there is no guidance from the IRS, we assume that referral income should most likely be taxed as income as it typically would not amount to financial trading activity.
Where the referral income does not amount to a trade, the USD value (at the time of receipt) of any tokens received from referrals will be taxable as ordinary income.
The USD value of the referral income at the date of receipt is the capital gains tax acquisition cost of the tokens; to be deducted from the proceeds of a later disposal of the tokens subject to capital gains tax.
