Digital Assets

Navigate the complexities of digital assets, including cryptocurrencies and non-fungible tokens (NFTs), with our comprehensive guide. This resource covers the federal income tax treatment of digital assets, including taxable transactions, fair market value (FMV) determinations, and specific scenarios like mining and airdrops. Essential for investors, miners, and anyone involved in digital assets.

Highlights:

• Taxable Transactions: Includes receiving digital assets as payment, selling or exchanging digital assets, and gifting.

• Fair Market Value (FMV): Learn how to determine the FMV of digital assets for tax reporting purposes.

• Mining and Airdrops: Understand the tax implications of mining cryptocurrency and receiving airdrops, including the concept of constructive receipt.

• Capital Gains and Losses: Guidance on reporting gains or losses from the sale or exchange of digital assets.