Welcome to the fourth episode of our multi-part series on crypto taxation.
If you missed, or haven’t yet listened to our first three episodes, we covered the basics of crypto taxation, what is, and what isn’t taxable. Then, we explored like-kind, 1099s, and how to handle margin trading, staking, loans, and NFTs on your taxes. Our third episode reviewed all things crypto tax audits.
In today’s episode we explore real-world crypto tax scenarios and how a seasoned crypto tax professional, Andrew Gordon, suggests handling those situations. Andrew discusses the biggest mistakes he has seen crypto taxpayers make, and lets our listeners know exactly how to prevent those mistakes.
Episode Link: https://talk.bitcoin.tax/real-world-crypto-tax-scenarios/
(11:01): The biggest mistakes a taxpayer can make
(15:01): How to minimize the fees you pay a crypto tax pro
(16:10): Can you claim losses on shut down exchanges like FTX?
(22:08): Is FIFO the only allowed calculation method?