Author : | Paul Winn, CLU, ChFC |
Course Length : | Pages: 19 ||| Review Questions: 8 ||| Final Exam Questions: 10 |
CPE Credits : | 2.0 |
IRS Credits : | 0 |
Price : | $17.95 |
Passing Score : | 70% |
Course Type: | NASBA QAS - Text - Technical - NASBA Registry - IRS Enrolled Agents |
Primary Subject-Field Of Study: | Taxes - Taxes for Course Id 1981 |
Description : | Virtual currency use is increasing, and roughly 3 in 10 Americans younger than age 30 indicate they have invested in, traded, or used a virtual currency, such as Bitcoin or Ethereum. As a result, tax preparers are more likely than ever to encounter clients who have engaged in one or more virtual currency transactions during the year and who may have taxable income as a result. Tax Treatment of Virtual Currency briefly discusses the nature of virtual currency, how transactions in virtual currency occur and are recorded, and the tax treatment to which they are subject. |
Usage Rank : | 0 |
Release : | 2022 |
Version : | 1.0 |
Prerequisites : | None. |
Experience Level : | Overview |
Additional Contents : | Complete, no additional material needed. |
Additional Links : |
Virtual Currencies
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Advance Preparation : | None. |
Delivery Method : | QAS Self Study |
Intended Participants : | Anyone needing Continuing Professional Education (CPE). |
Revision Date : | 20-Apr-2022 |
NASBA Course Declaration : | Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam. |
Approved Audience : | NASBA QAS - Text - Technical - NASBA Registry - IRS Enrolled Agents - 1981 |
Keywords : | Taxes, Tax, Treatment, Virtual, Currency, cpe, cpa, online course |
Learning Objectives : |
Course Learning Objectives After completing this course, students should be able to:
Chapter 1
Chapter 2
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Course Contents : | Course Learning Objectives Course Introduction Chapter 1 - Nature of Virtual Currency Learning Objectives Introduction The Lexicon of Virtual Currency Virtual Currency Defined Digital Currency Obtaining Virtual Currency Virtual Currency Mining Purchasing Virtual Currency Storing Virtual Currency Storing Cryptocurrency in Cold Storage Storing Cryptocurrency in Hot Storage Virtual Currency Transactions Confirmations Security Changes in Protocol — Forks Airdrops Blockchain Summary Chapter 1 Review Questions Chapter 2 - Tax Treatment of Virtual Currency Learning Objectives Introduction Virtual Currency Transactions Determining the Cost Basis of Virtual Currency Cost Basis of Purchased Virtual Currency Cost Basis of Virtual Currency Received for Goods or Services Cost Basis of Inherited Virtual Currency Virtual Currency Received as a Gift Cost Basis Summary Tax Treatment of Virtual Currency Received for Services Virtual Currency Received as Wages Virtual Currency Received by an Independent Contractor Mining Virtual Currency Tax Treatment of Virtual Currency Transactions Exchanged Virtual Currency Exchange of Virtual Currency for Other Property Tax Treatment When less than all Virtual Currency Held is Sold, Exchanged or Disposed Of Charitable Gifts of Virtual Currency Tax Treatment of Protocol Changes Reporting Income, Gain or Loss Summary Chapter 2 Review Questions Glossary |