Practical Digital Asset Reporting

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Description

Practical Digital Asset Reporting
IRS Program #: X9QQU-T-00968-23-O
CTEC #: 6257-CE-0146
CE: 2 IRS & 2 CTEC credits
Speaker: Matt Metras, EA

A practical investigation into how to properly report cryptocurrency transactions for taxpayers that don't have 3rd party information returns, as well as those that do. We will review general cryptocurrency taxation and guidance and then apply that knowledge in an interactive exercise. We will take a group of raw crypto transactions, identify the taxable events and reportable income and populate a 1040 with them. We will utilize crypto tax software to create a completed 8949 from source documents.

Learning Objectives:

Review general cryptocurrency taxation
Be able to identify and categorize raw transactions. 
Be able to evaluate positions with unclear guidance.
Be able to produce a completed 1040 from raw crypto data.

Contributors

Matthew Metras, EA

Matt Metras, EA is the owner of MDM Financial Services in Irondequoit, NY. He has been practicing since 2003 and specializes in bookkeeping and taxation for cryptocurrency clients. He is a frequent guest on the Bitcoin Taxes podcast. He has instructed on Cryptocurrency Taxation for the National Association of Enrolled Agents, The American Institute of Certified Tax Planners and many other organizations and is a contributing writer for thinkoutsidethetaxbox.com. Matt serves on NAEA's Governmental Relations Committee and Diversity, Equity and Inclusion Task Force. Additionally, he is an administrator of the “Bitcoin & Cryptocurrency Tax Info” Facebook group and a moderator of the r/cryptotaxation subreddit. Matt is also a passionate community advocate and serves on his local Board of Education.

Thank you

Description

Contributors

Matthew Metras, EA