Cryptocurrency Taxation Fundamentals and Open Issues (Completed)

Date: Thursday, February 16, 2023
Instructor: Annette Nellen
Begin Time:  9:00am Pacific Time
10:00am Mountain Time
11:00am Central Time
12:00pm Eastern Time
CPE Credit:  2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC

This webinar explains cryptocurrencies and similar digital assets including ICOs and non-fungible tokens (NFTs), how and why used, and IRS guidance. The numerous tax issues not addressed by the IRS or state tax authorities are explained along with tips for dealing with them. Background to help understand the tax consequences includes definitions, the technical elements of cryptocurrencies and usage, and emerging trends. Compliance including dealing with the 1040 cryptocurrency question, recordkeeping and due diligence considerations are addressed.

Who Should Attend
Practitioners who advise individuals and businesses.

Topics Covered

  • What are cryptocurrency, airdrops, ICOs, NFTs and similar digital assets?
  • IRS guidance and open issues, and how to deal with them including answering the Form 1040 virtual currency question
  • Various types of events and activities related to cryptocurrencies and the blockchain
  • Due diligence and recordkeeping considerations in assisting clients holding and using cryptocurrencies

Learning Objectives

  • Recognize how to explain cryptocurrencies and how they are obtained and used
  • Identify IRS guidance and open issues and how to deal with them


Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites

Advance Preparation

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