Tax Treatment of Virtual Currency

According to a survey done by the Pew Research Center whose results were published in November 2021, 16% of Americans indicated they personally have invested in, traded, or otherwise used virtual currency additionally, the number of people investing in or engaging in transactions involving virtual currency continues to increase. These statistics strongly suggest that tax preparers must be aware of the nature of virtual currency and its tax treatment. It’s to provide that awareness that Tax Treatment of Virtual Currency was written.

Course Learning Objectives

After completing this course, students should be able to:

  • Recognize the methods of obtaining and storing virtual currency
  • Describe how transactions involving virtual currency work
  • Understand the basic nature of blockchains
  • Apply the existing U.S. tax laws to virtual currency transactions
  • Identify when and where to report taxable virtual currency events and transactions