Claimed your JTO? Time to report it to the IRS, experts say

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Made some money off of Jito’s airdrop Thursday? If you’re a US taxpayer, you’d better report it to the IRS, experts say.

Jito, a staking project built on Solana, released its JTO token via an airdrop at 11 am ET Thursday. The claim window for those eligible is 18 months.

By 11:45 am ET Thursday, around 30% of the airdrop had been claimed. Of the top 15 wallets who had claimed the most JTO in the airdrop, only three had sold any as of Friday morning, according to a Flipside Crypto dashboard.

While holders took to X, formerly Twitter, to discuss their profits, tax experts advise airdrop recipients, at least those in the US, to be aware of their obligations.