Playbook

Form 1099-DA — the new broker reporting form for digital assets — introduces standardized reporting requirements that take effect for tax year 2025 transactio…

In July 2023, the IRS issued Rev. Rul. 2023-14, ruling that staking rewards are gross income in the year received, valued at fair market value at the date of …

FASB

IRS Letter 6173 is a compliance check letter — not an audit notice, but a precursor to one. It asks taxpayers to certify that their virtual currency transacti…

A CP2000 is a mismatch notice, not a formal audit. It proposes additional tax based on information returns the IRS received that don

Aggregation software like Koinly, CoinTracking, and TokenTax works reasonably well for simple portfolios. It fails in predictable ways when your activity invo…

Under current law, wash-sale rules do not apply to cryptocurrency — a feature that allows tax-loss harvesting strategies not available for securities. The Inf…

NFT taxation is property taxation under current IRS guidance — but applying the property rules requires answering questions that don

DeFi activity generates at least 12 distinct event types, each with a potentially different tax treatment under current IRS guidance. Liquidity provision, wit…

Rev. Rul. 2019-24 addressed hard fork and airdrop taxation, concluding that new tokens received in an airdrop are gross income when you have dominion and cont…

Whether a mining operation constitutes a trade or business under IRC Section 162 determines whether you can deduct electricity, equipment, and operating costs…

When you receive unvested tokens as compensation — whether from a protocol, a startup, or a DAO — IRC Section 83 governs the timing of income recognition. By …

Texas has no personal income tax, which makes it attractive for crypto holders with large unrealized or realized gains. But state tax planning for crypto is m…

A quarterly subledger is the accounting document that makes year-end tax preparation fast and audit defense possible. This post describes the exact workflow C…

If the IRS opens an examination of a year with significant crypto activity, they will request transaction records, wallet addresses, exchange account statemen…