Please see the comments inline below. As with everything on the forum, please keep in mind that this is meant as informational only, not as tax advice (you should speak with a tax advisor for specific tax advice).
I was under the impression that I could make the argument that I maintained a position in ETH, and recieved ETC as income. ETH was created by a foundation and that foundation dictates what “ETH” is, and “ETC” was some rogue effort (even though it actually maintained the same software, and ETH changed the software). The fact that post-fork ETH mostly held a similar value to the pre-fork value adds support to the idea that this was the continuation of the original currency, and ETC was not.
Thoughts on this?
>> I’ve never heard of this argument being made before, but ultimately it depends on the facts and circumstances. It’s likely a more aggressive position than the conservative position that the original chain that was unmodified is ETC. If you want to take this position, just make sure you have the evidence to support your argument and that you run it by your accountant. You won’t need to show this evidence at the time of filing, but you will need to prove your case if the IRS questions your treatment.
I was also hoping that CoinTracker could tell me a basis amount for the fork (airdrop?). These are the kinds of things that CoinTracker could be very good for, rather than having all of us try and figure it out ourselves. O(1) vs O(n), right?
>> Yes! We try to automatically do this whenever you have a receive transaction (e.g. airdrop or fork). If you aren’t seeing that happen, please let us know at feedback [at] cointracker.io with a screenshot of the transaction.