cryptotax

/cryptotax230

Discussions about crypto tax & accounting - ask questions and get answers. Hosted by the accountants at Tax On Chain (taxonchain.io).

I literally have no idea what this means but apparently I need to do something to my crypto holdings before Jan 1 2025 or the IRS will something something

https://www.eisneramper.com/insights/tax/safe-harbor-digital-asset-1224/

Can someone eli5?
How do taxes work for agents? Could an agent in theory trade automatically upto a certain amount (which typically would incur capital gains on each disposal if a human did it) and then lump sum gift the proceeds to a wallet address?

How will HMRC or the IRS (or other tax authority that taxes crypto transactions) respond?
$DEGEN allowance is claimable now.

Check your $DEGEN points and claim tokens:

degenclaim.com
Is there a crypto native tool to generate K-1s for LLC members?

Basically, a hybrid of Awaken.tax and TurboTax
What does everyone use for crypto taxes?
It is crazy that you can end up with a tax bill because a stranger airdropped you something without your consent

The main reason I don’t care too much about this right now is I claimed my ENS airdrop (one of the top 500 recipients) at an ATH

This has allowed me to carryforward a sizable capital loss for years 🙃
Can someone /eli5 the IRS's new 1099-DA for next year? Does this mean all activity needs to be traceable back to specific wallets?
I finished my US crypto taxes in 15 minutes thanks to Awaken Tax

Quite surprised by how simple it is to use https://awaken.tax?ref=1bdsrrya
Request for startup: crypto tax product specifically for creatives, artists. creators — otherwise 2025 is going to be hell
I just used Awaken to do my 2023 crypto taxes. Incredibly simple. It's also entirely free for the next 24 hours https://awaken.tax?ref=1bdsrrya
Does the IRS consider receiving Warps as taxable income?
A quick TL;DR on Ethereum Staking. Have more questions? Ask away! https://warpcast.com/rafranco.eth/0x74592574