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What You Need to Know About Virtual Currency Tax Preparation

The first question on this tax season’s Form 1040 asks if the taxpayer has bought, sold or owned virtual currencies. How prepared are you if your clients are amongst the estimated 8-14% of US taxpayers that will answer YES to that question? How will you accurately gather holdings information and calculate cost basis on your clients’ crypto transactions? Digital assets have gone mainstream and tax professionals must be ready to respond.

Hear from Erik Asgeirsson, CEO of CPA.com, Amy Wang, CPA, Senior Manager of AICPA, and Jeremy Drane, Chief Commercial Officer of Lukka, as they discuss the new IRS guidance on crypto tax reporting and the implications for CPA firms in how they serve their clients.

Learning Objectives:

  • Gain insight into the latest developments in crypto asset tax
  • Recognize the unique challenges of crypto tax accounting and how to guide clients
  • Leverage crypto tax preparation tools to aggregate client transaction data and calculate capital gains and losses

Note: This on-demand webinar does not offer CPE credit.