BCH received in the fork should be treated like the receipt of free money: as income. So, you get taxed on that as if it were cash.
If/when you later sell it, you will be taxed again on any gain in the value of the BCH at the time of sale as capital gain (but only on the gain, not the total value of the BCH). Alternatively, if the value has dropped, you will get a capital loss deduction. Whether it is short-term or long-term capital gains/losses depends on how long you've held the BCH at the time of sale.
And yes, this is the consensus of the experts...especially the ones at the IRS...
If/when you later sell it, you will be taxed again on any gain in the value of the BCH at the time of sale as capital gain (but only on the gain, not the total value of the BCH). Alternatively, if the value has dropped, you will get a capital loss deduction. Whether it is short-term or long-term capital gains/losses depends on how long you've held the BCH at the time of sale.
And yes, this is the consensus of the experts...especially the ones at the IRS...