October 9, 2019 IRS issues tax guidance on forks and airdrops.

The guidance states that cryptoassets created from a hard fork or airdrop count as income, with a cost basis determined by the market value when the asset is first transferrable by the user. It also clarifies that the cost basis for assets received as income (ie, mining) includes all fees and acquisition costs in USD. Finally, the IRS announced that it would not create a tax exemption for small transactions.