Master crypto bookkeeping, transaction tagging, and reporting best practices for Web3 founders and high-volume traders.
Quick answer (read this first): Is the tax treatment of crypto perps settled? No. The IRS has not issued guidance specifically addressing crypto perpetual futures taxes. Tax characterization requires applying […]
Quick answer (read this first): What IRS Notice 2026-20 does: Extends through December 31, 2026, the temporary relief first granted under Notice 2025-7, allowing taxpayers to satisfy the adequate identification […]
Patrick Camuso was included on the Forbes 2026 Best-in-State Top CPAs list, marking a second consecutive year of recognition. That recognition comes at a time when the digital asset landscape […]
Quick answer (read this first): When correction is required: When reported gains or losses were materially wrong due to missing acquisitions, misclassified transfers, unrecognized income events, or software errors and […]
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 […]
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 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 […]
