Basics and Beyond of Digital Asset Taxes Online Training – Jan. 12-13

Instructor-led sessions on Jan. 12 and Jan. 13 from 10:00 a.m. - 1:00 p.m. CT; please call to register
6 CPE for AFSP, EA, CPA, CRTP

Premium: $171 | Professional: $171 | Basic: $217 | Nonmember: $228

Summary

It’s estimated that more than 16% of Americans own some form of cryptocurrency. Even with the recent market downturn, cryptocurrency is going mainstream. Expect even more crypto clients this coming tax season!

This six-hour training will start from scratch, with history, definitions and basic concepts of decentralized finance. Then we’ll review all IRS guidance released to date and provide examples of how to apply this guidance to the tax return. We’ll build to more complex topics such as the taxation of mining, staking, yield farming, sale and trades of NFTs, and more. Additionally, we’ll discuss possible options for taking tax deductions for losses your clients may have experienced in 2022. We’ll conclude with recommended best practices for your office, including a suggested digital asset questionnaire for clients.

The first session will end with homework to be reviewed in the next session to reinforce your learning.

Objectives

Upon completion of this course, you will be able to:

• Understand the underlying goal of the DeFi movement
• Translate basic crypto speak
• Analyze cryptoverse concepts
• Apply IRS compliance history
• Identify IRS rules and regulations relating to virtual currency
• Determine whether a transaction is taxable
• Report taxable transactions
• Report income from mining and staking cryptocurrency
• Report cryptocurrency losses
• Describe the tax issues of NFTs
• Identify areas of the IRC that need additional clarification
• Apply best practices to the taxation of cryptocurrency

Course details

Instructor-led sessions will occur Jan. 12 and Jan. 13 from 10:00 a.m. - 1:00 p.m. CT. Class participation via chat and webcam will be encouraged. Class size is limited to allow for learner interaction with the instructor.

This online training includes slides, supplements, homework assignments, and question and answer time with the instructor.

​Presented by: Amy Wall, MBA, EA
Course year: 2023
Duration: 300 minutes (Two 3-credit sessions)
Course level: Basic
Prerequisite: None
Advanced preparation: None
Delivery method: Group Internet Based
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How to earn CPE

To receive credit for this online training, you’ll need to record at least 70% of the polling words given.

Cancellation policy

​Because this is an online education offering, it is nonrefundable.​​