First, convert the value of your airdrops, promos, and rewards to US dollars (USD) if the issuer or exchange hasn't already done this for you.Recently, the IRS ruled that airdrops, along with promos and staking rewards, only become taxable once the taxpayer "acquires the ability to transfer, sell, exchange, or otherwise dispose of the cryptocurrency." Airdropped currency not yet usable or accessible would therefore not be taxable until the taxpayer is able to exercise control over it. These are free distributions of coins or tokens into multiple wallet addresses to promote and drive adoption of a new virtual currency. It sounds like you are getting Cryptocurrency airdrops. As long as you have not converted them to cash it is not yet taxable.
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