Blockchain Asset Tax Planning: Emerging Issues with Respect to Cryptocurrencies, NFTs, and Other Digital Assets
Mining and Staking Awards, QSBS Treatment, IRAs, Wash Sales, Form 8949 and FBAR Reporting
Note: CLE credit is not offered on this program
A live 110-minute CPE webinar with interactive Q&A
This course will review the current state of taxation of blockchain assets for entrepreneurs, founders, and venture capital investors. Our panel will discuss the latest IRS guidance and offer advice on planning opportunities with respect to the taxation of cryptocurrencies, NFTs, and other digital assets, with a particular focus on tax planning strategies for entrepreneurs, founders, and venture capital investors within the blockchain ecosystem.
Outline
- Foundational issues: money, currency, or commodity
- IRS guidance to date
- Different treatment for different blockchain assets
- Transactions involving Blockchain Assets
- Transfers and non-recognition treatment
- Lending transactions
- Constructive sales
- Wash sale rules
- Blockchain Operational Issues
- Revenue Ruling 2019-24: Chain spits, airdrops, and hardforks
- Taxation of DAOs
- Taxation of Mining Awards (proof of work)
- Taxation of Staking Awards (proof of stake)
- Blockchain Asset Reporting
- Form 8949
- FBAR compliance
- Form 8275 reporting on uncertain positions
- Other issues
- QSBS treatment and blockchain activities
- Blockchain assets within QOF structures
- Charitable gifts of appreciated crypto
- Blockchain assets in IRAs
- NFTs as collectibles
Benefits
The panel will review these and other critical issues:
- Tax uncertainty in the blockchain ecosystem
- Tax planning with blockchain assets
- Blockchain assets and the tax treatment of the same within certain investment structures
- Tax reporting with respect to blockchain assets
Faculty
Joshua M. R. Becker, J.D.
Counsel
Pillsbury Winthrop Shaw Pittman
Mr. Becker is a Tax attorney with over 10 years of international law firm and accounting firm experience. He counsels... | Read More
Mr. Becker is a Tax attorney with over 10 years of international law firm and accounting firm experience. He counsels clients in a diverse range of tax, business, and private wealth matters. Mr. Becker's experience includes the tax and non-tax aspects of investment fund formations, private equity mergers and acquisitions, hedge funds, family office operational and investment structures, and real estate joint ventures and investments. Prior to joining Pillsbury, he was a founding member of a multi-family office and registered investment advisor dedicated to blockchain and digital asset investors, founders, and entrepreneurs.
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Aaron Borden, J.D., CPA
Managing Director
Grant Thornton
Mr. Borden has more than 15 years’ experience finding solutions to complex tax problems for his clients.... | Read More
Mr. Borden has more than 15 years’ experience finding solutions to complex tax problems for his clients. Currently his work is focused on assisting business owners and entrepreneurs in achieving their desired legacy and succession planning goals. His work in this area often involves advising on estate plans, charitable giving strategies, multi-generational planning, and other matters that often go beyond the tax aspects client goals. In recent years, Mr. Borden has also assisted his clients in connection with foreign and domestic trust issues, family limited partnerships, private annuity transactions, like-kind exchanges, opportunity zone investments, private foundations, charitable trusts, conservation easements, personal use of corporate aircraft, employee stock ownership plans, and retirement planning.
CloseEarly Discount (through 05/27/22)
CPE credit processing is available for an additional fee of $39.
CPE processing must be ordered prior to the event.
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NASBA details.
