Matilda received virtual currency in exchange for some work she performed as an independent contractor. How much income must Matilda report on her tax return the fair market value of the virtual currency at the time she received it the excess of the fair market value of the currency in the amount in U.S. dollars normally paid for similar work nothing in the current year but she will report this income when she sells or exchanges the virtual currency the average of the highest and lowest fair market values of the currency for the calendar year in which she received it