Kirk Phillips


    Credit Info
  • NASBA Field of Study

  • Format

    On demand

  • Level

  • CPE Credit


  • Course acronym

  • Prerequisites

  • Course duration

    1.5 Hours

IRS Guidance on Taxation for Virtual Currency

This CPE self-study course covers the new guidance, FAQs, and what you need to know as a tax practitioner or personal financial planner to answer your clients' questions.
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Topics discussed

Taxation of hard forks and air drops
What cost basis methods are acceptable
Fair market value of received virtual currency
Check-the-box requirements for crypto disclosure
Maintaining backup documentation and records
The latest IRS guidance, FAQs, and AICPA comments

Learning objectives

Understand the taxation of hard forks and air drops.
Distinguish what cost basis methods are acceptable.
Determine the fair market value of received virtual currency.
Understand check-the-box requirements for crypto disclosure.
Maintain backup documentation and records.
Understand what guidance is most important to taxpayers and tax practitioners and what AICPA comments were addressed by the new IRS guidance.

Who will it benefit?

Tax practitioners and personal financial planners who want to understand the latest IRS guidance on taxation of virtual currency and how it will affect them