How to Evaluate a Crypto CPA for a Complex Digital Asset Portfolio
What to Look for in a CPA for Complex Cryptocurrency Tax and Accounting Needs
Should You Reconstruct Your Crypto Cost Basis Before Selling a Large Position?
Quick Answer When to reconstruct cost basis first: If you cannot produce a reliable tax lot inventory showing the basis, acquisition dates, holding periods, and custody history of the assets […]
Does Your 1099-DA Reconciliation Require Cost Basis Reconstruction?
Quick Answer Tax preparation: If your historical tax-lot inventory is reliable, your beginning basis is supportable, and the current year’s activity can be reconciled to those records, the work may […]
IRS Letters 6174 and 6174-A: What They Mean and What to Do
Quick Answer IRS Letters 6174 and 6174-A are advisory cryptocurrency compliance letters, and neither generally requires a direct response. Letter 6174 is educational, while Letter 6174-A uses stronger compliance language […]
IRS Letter 6173: How to Respond Before You Certify Anything
Quick Answer What it is: IRS Letter 6173 is a response-required compliance letter sent to taxpayers the IRS believes had cryptocurrency transactions that were not properly reported. Unlike Letters 6174 […]
CP2000 Crypto Notice: Why the IRS Number May Be Wrong
Quick Answer What it is: A CP2000 is a proposed adjustment from the IRS Automated Underreporter program when information reported by third parties does not reconcile to the filed return. […]
IRS Crypto Letter: What Your Notice Means and How to Respond
Quick Answer An IRS crypto letter means the agency has identified digital-asset information or a reporting issue that requires the taxpayer’s attention. It does not by itself establish that additional […]
The Future of Crypto Tax Compliance: Integrated Onchain Reporting and the Next Phase After 1099-DA
Quick Answer What is integrated onchain reporting: It is the probable next phase of crypto tax compliance predicted at ETHDenver by Patrick Camuso, in which the tax-relevant data needed to […]
The Crypto Tax Three-Record Problem: Why Your 1099-DA, Tax Software, and Transaction History Produce Different Numbers
Quick Answer What the three records are: Every crypto investor has three independent records describing the same activity: the broker’s Form 1099-DA (or Form 1099-B), the output of their accounting […]
Crypto Options Taxes: How Calls, Puts, CME Contracts, and Deribit Positions Are Taxed in the U.S.
Quick Answer Are crypto options taxes settled? The buyer and writer rules under established option tax law, expiration as a disposition, and the exercise and assignment adjustments are all grounded […]
