Cryptocurrency Law

Qualified Appraisals For Donated Crypto

Qualified Appraisals For Donated Crypto

For non-cash charitable contributions to a 501(c)(3) organization, taxpayers often need clarification about the rules and regulations surrounding the deductions they can claim on their taxes. One area of confusion is the requirement for a qualified appraisal for cryptocurrency contributions.

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Claiming Tax Losses for Worthless Cryptocurrency

Claiming Tax Losses for Worthless Cryptocurrency

In a recent Chief Counsel Advice, the Internal Revenue Service (IRS) addressed the applicability of I.R.C. Section 165 to cryptocurrency that has declined in value. The advice concluded that an individual, who owns cryptocurrency that has substantially declined in value, can deduct the loss under Section 165, since it would be an itemized expense disallowed by the Tax Cuts and Jobs Acts (TCJA).

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Easy Guide to NFT Taxes

Easy Guide to NFT Taxes for 2023

Love them or hate them, NFTs are here to stay. Some only see a digital picture of an ape in human clothing. Others see an opportunity for creatives and artists to securely sell or trade with people all over the world via the blockchain. The NFT market has exploded over the last several years and shows no signs of letting up.

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Crypto Tax-Loss Harvesting

Crypto Tax-Loss Harvesting

If you’ve ever invested in crypto, then you know seeing the market plummet before your eyes can be a harsh reality. With so much volatility, crypto tax-loss harvesting can be a silver lining that helps save thousands of dollars when it comes time to pay Uncle Sam.

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Complete Crypto Tax Guide - Gordon Law Group

Guide to Crypto Taxes 2023

Confused by crypto taxes? We’re here to help! From mining to swapping to airdrops, figure out how to report cryptocurrency correctly and avoid IRS problems.

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