Virtual Currency Taxation
Navigate the tax consequences of virtual currency transactions in a rapidly evolving environment. This course explains the fundamentals of virtual currencies, then analyzes cost basis determination and the tax treatment of common transactions. You will examine payments for services, property exchanges, charitable contributions, and airdrops, along with related IRS recordkeeping and reporting requirements. By understanding these rules, you can properly assess taxable events and manage digital asset transactions effectively.
Format
PDF Course
Course Lists
Duration
1 Hour
Course Information
Author: Steven Bragg
Course Number: TX1043
IRS Program Number: 72821-T-00098-25-S
Learning Objectives
- Specify the characteristics of virtual currency.
- Recall the characteristics of a cryptocurrency wallet.
- Specify how the proof of work method functions.
- Recall how virtual currencies are taxed when they are sold, exchanged, or otherwise disposed of.
- Identify the self-employment tax issues related to virtual currency payments made in exchange for services rendered.
Level: Overview
Instructional Method: QAS Self-Study
NASBA Category: Taxation
Prerequisites: None
Advance Preparation: None
Latest Review Date: September 2025
Program Registration Requirements: Click on the Enroll button to pay for and access the course. You will then be able to download the course as a PDF file, then take an on-line examination, and then download a certificate of completion if you pass the examination.
Program Refund Policy: For more information regarding administrative policies concerning complaints, refunds, and other matters, see our policies page.