NASBA Field of Study
Distributed Ledger Technology
Identify the impact of technology on taxation
Recognize the elements of distributed ledger technology (DLT)
Recall how digital assets can affect taxable transactions
Identify the tax implications of blockchains.
Distinguish between the terms blockchain, bitcoin, and distributed ledger technology.
Understand the taxation of hard forks and air drops.
Distinguish what cost basis methods are acceptable.
Determine the fair market value of virtual currency received.
Understand what IRS guidance is most important to taxpayers, tax practitioners, or both, and what AICPA comments were addressed by the guidance.
CPAs and other professionals with clients; and organizations that are utilizing Blockchain technology
Accountants with clients or within organizations that are holding, trading, or issuing digital assets
Individuals who are interested in getting a better technical understanding of Blockchain technology and digital assets and the impact of this technology on taxable transactions.