Cryptocurrency Transactions: Navigating Federal Tax Rules
1.00 Credits
Member Price $59
Non-Member Price $79
Overview
As cryptocurrencies like Bitcoin, Ethereum, and others become more popular, tax authorities around the world are working to create regulations for their use and transactions. This session will address cryptocurrency tax issues and their complexities and challenges that individuals and businesses face when dealing with the taxation of digital currencies.
*Please Note: If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to kori.herrera@acpen.com
Highlights
- Review existing reporting rules
- Broker reporting requirements and Form 1099-DA
- Reporting crypto transactions
- Basis Safe Harbor
- Illustrative example
Prerequisites
Basic working knowledge of individual and business taxation
Designed For
CPAs and members in industry seeking an in-depth review of reporting cryptocurrency transaction rules
Objectives
- Identify the proper reporting requirements of cryptocurrency holdings
- Apply the IRS tax rules and regulations
- Identify practical planning strategies and potential pitfalls
Preparation
None
Leader(s):
Leader Bios
Steven Dilley, Federal Tax Workshops
Steven C. Dilley, CPA, JD, PhD, is president of Federal Tax Workshops, Inc., located in East Lansing, Michigan. He is nationally known for his knowledge of the financial, accounting and tax problems of the closely held business and individual taxpayers. He has published numerous articles on these topics. In addition, Steve is a professor of accounting at Michigan State University, where he teaches tax accounting and has recently received two teaching awards. He is a member of the Michigan Association of CPAs, Wisconsin Bar Association, the American Accounting Association, AICPA, American Tax Association and Hawaii Association of Public Accountants.
Non-Member Price $79
Member Price $59