Edu

Punch gets rejected for a hug and goes back to hug the plushie

I can't believe I didn't think about this before! If you have a MET allocation, pull up a seat. This changes how your airdrop might be taxed 💀 In some countries, airdrops are considered a $0 acquisition and taxes at sale But some of these countries still tax airdrops if you did something to earn them. Social media posts, promoting the project, etc. could be considered marketing services. And in the case of MET? Your LP Army Contributions might be seen as income, even if the rest of your airdrop is not. If you don't care and just want to treat the whole airdrop as $0 cost acquisition because you don't think your tax office will know the difference... That's your choice. If you want to aim for maximum compliance and avoid looking over your shoulder, it could be useful to save a copy of your MET allocation breakdown. You can then report your LP Army Contribution airdrop as income. And the rest can be recorded as a $0 cost acquisition. If you plan to insta-dump or immediately provide your MET in a DLMM/DAMM pool then it won't make much difference to the tax you pay. Here is how you can calculate the income taxable portion If you opted for the NFT: Take LP Army allocation / Total Allocation to determine the portion of your NFT to claim as income. Here is a calculation for a sample wallet: 10,000 LP Army / 10,662.33 Total = 0.938 If you remove liquidity from the NFT and received $10,000 in value? 0.938 x $10000 = $9380 of income You can then give the tokens received a $9380 cost basis in your tax software. If you read this far - say "gud fee tek" and let's see who is a real one 😅