Taxation of Digital Assets: New Form 1099-DA, Final Regulations TD 10000, Abandoning Crypto Investments
Recording of a 110-minute CPE webinar with Q&A
This webinar will examine the latest IRS rules and positions on the taxation of cryptocurrency and other digital assets. Our panel of cryptocurrency taxation professionals will review recent regulations, Revenue Rulings, and guidance issued by the IRS and provide insights into tracking basis, abandoning worthless cryptocurrency investments, and calculating gains and losses on these investments.
Outline
- Taxation of digital assets: introduction
- Current guidelines
- Reporting gains and losses
- Tracking basis
- Staking rewards
- New Form 1099-DA
- Abandoning worthless digital assets
- Other considerations
Benefits
The panel will cover these and other critical issues:
- New Form 1099-DA and reporting requirements
- Final regulations (TD 10000) for reporting gains and losses from digital assets
- The IRS' position on abandoning worthless cryptocurrency investments
- Recommendations for tracking basis in digital assets
Faculty
Ryan Babiak, CPA, MST
Partner
Withum Smith + Brown
Mr. Babiak is a tax partner more than 15 years of experience in public accounting. He specializes in accounting for... | Read More
Mr. Babiak is a tax partner more than 15 years of experience in public accounting. He specializes in accounting for income taxes, federal and multi-state income tax for both startup and multi-national business entities, equity-based compensation, and U.S. international taxation. Mr. Babiak works extensively in Withum’s Technology and Emerging Growth Services Group and is responsible for overseeing the tax planning and compliance process for companies in the firm’s technology and international practice areas. He is also an active member of Withum’s Digital Currency and Blockchain Technology Team, and Corporation Tax and Accounting for Income Tax Teams.
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