Quick answer (read this first): What crypto tax software does: It calculates gains and losses from the transaction data imported into it. It applies an accounting method to whatever inventory […]
Quick answer (read this first): The short answer: No, you can’t fix crypto taxes without addressing prior years?. Cost basis is cumulative. Every year’s ending inventory becomes the following year’s […]
Wired published a piece examining the tax reporting challenges facing prediction market traders following the explosive growth of platforms like Kalshi and Polymarket. Patrick Camuso, CPA was quoted in the […]
Accounting Today published a piece on March 23, 2026 examining the 1099-DA reporting challenges CPAs and their clients are navigating in its first active tax season. Patrick Camuso, CPA was […]
Quick answer (read this first): The short answer: It depends on how your prediction market activity is characterized, on your capacity as a taxpayer, and on how each position ended, […]
Quick answer (read this first) The formula for how to calculate cost basis for crypto: Cost basis = purchase price + capitalized transaction fees, assigned to a specific tax lot […]
Quick answer (read this first) Permitted crypto cost basis methods: FIFO (first-in, first-out) and specific identification. Both are applied at the wallet or account level under the current framework, which […]
I’m pleased to share that my co-authored article with Sulolit Mukherjee has been published in Tax Notes Federal: “Digital Asset Taxation in the United States: A Policy Analysis.” For those […]
Quick Answer: Read This First What this is: A practitioner analysis of how autonomous AI agents generate taxable events at a scale that existing tax reporting and substantiation systems were […]
Quick Answer (Read This First): The moment: Form 1099-DA issued its first reporting forms in early 2026, covering 2025 digital asset transactions. The IRS can now match independently sourced broker […]
