Forty-six million Americans now own bitcoin. Yet, few tax professionals understand how to help individuals and businesses dealing with digital assets like cryptocurrency and NFTs. This session walks you through the tax implications of common cryptocurrency-related transactions and how to successfully service clients dealing in digital assets.

We will also cover current developments surrounding this topic, such as the updated version of the digital assets question on Form 1040; funds locked in insolvent exchanges; the tax treatment for digital assets which are substantially impaired in value (Luna); tax notices (CP2000, Letter 6173, Letter 6174, and Letter 6174-A); and tax planning opportunities.

Learning Objectives:

• Recognize what cryptocurrencies are and their use cases


• Identify how to safely interact with cryptocurrency and NFTs (buying, selling, and storing)


• Determine the tax implications of investing in cryptocurrency, running a mining operation, using NFTs, and using cryptocurrency as a payment method


• Recall challenges in dealing with cryptocurrency-related clients


• Perform tax planning opportunities


• Practice serving clients with cryptocurrency transactions using a tool like CoinTracker.com

NASBA Approved

CPAacademy.org (Sponsor Id#: 111889) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

CPAacademy.org 1685 S. Colorado Blvd, Suite #205, Denver, CO 80222

EA Approved

CPAacademy.org (Sponsor Id#: HURS9) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.

CPAacademy.org 1685 S. Colorado Blvd, Suite #205, Denver, CO 80222