Digital Asset Accounting

Quick Answer 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 requirement for broker-held […]

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 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 those errors affect […]

Quick Answer 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 it has and […]

Quick Answer The short answer: Prior-year analysis is required to the extent historical activity affects current basis, the lot inventory, or the treatment of a current item. That does not […]

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 The formula for how to calculate cost basis for crypto: Cost basis = purchase price + capitalized transaction fees, assigned to a specific tax lot at the time […]

Quick Answer There is no universally best crypto cost basis method. FIFO applies when the applicable rules require it because an adequate identification has not been made, while HIFO, LIFO, […]

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 Crypto cost basis is the acquisition cost assigned to a specific tax lot and is used to determine gain or loss when that lot is disposed of. Because […]