Crypto Currency & Taxes (Currently Unavailable)
Author: Robert K Minniti
| CPE Credit: |
2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC |
This on-demand course is designed for individuals who would like to obtain a basic understanding of cryptocurrency. The course will cover the history of virtual currencies and explain how they work. We will review some of the legal issues involved with virtual currencies. The course will cover the advantages and disadvantages of using virtual currencies. We will review the IRS rules for tracking and reporting cryptocurrency transactions for tax purposes.
Publication Date: June 2018
Designed For
CPAs, CFEs, CMAs, CIAs, CFFs, CVAs, CGMAs, CIAs, CFFs, MAFFs, managers, business owners, investors, and anyone else interested in learning about virtual currencies.
Topics Covered
- Basic understanding of cryptocurrency
- History of virtual currencies and explain how they work
- Review some of the legal issues involved with virtual currencies
- Advantages and disadvantages of using virtual currencies
- Review the IRS rules for tracking and reporting cryptocurrency transactions for tax purposes
Learning Objectives
- Define cryptocurrency
- Recognize the tax implications of using or investing in cryptocurrency
- Identify how the IRS defines virtual currency
- Identify advantages and disadvantages to using cryptocurrency
- Describe the first cyptopcurrency and when it was created and released
- Differentiate correct statements regarding the history of Bitcoin
- Recognize case studies and how they could apply to your clients
- Differentiate correct statements with respect to virtual currencies and taxes
- Identify most commonly used currencies
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Taxes (2 hours)
Program Prerequisites
None
Advance Preparation
None
