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elissa converted $4,500 into Ethereum in November 2021. In October 2022, when the value of her holding had increased to $6,000, Melissa decided to purchase
elissa converted $4,500 into Ethereum in November 2021. In October 2022, when the value of her holding had increased to $6,000, Melissa decided to purchase a watch using Ethereum. She spent the entire holding on the watch. How will Melissa report this on her tax return? It is not reported until she sells the watch. She will report $6,000 ordinary income on Schedule 1. She will report $4,500 passive income on Schedule E. She will report
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