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
Recording of a 110-minute CPE webinar with 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.
Partner
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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Christopher Saveri
Tax Director
Digital Currency Group
Mr. Saveri handles all things tax from an operational, compliance, and strategic perspective for DCG. In his role, he... | Read More
Mr. Saveri handles all things tax from an operational, compliance, and strategic perspective for DCG. In his role, he also supports DCG's subsidiaries on strategic tax initiatives. Prior to joining DCG, Mr. Saveri worked in EY’s Financial Services Office for 13 years, and served as a tax lead in EY’s Metro NY Fintech initiative. He advised fintech companies at all stages and served as a subject matter expert for digital currency, supporting varied teams on tax technology and complex tax issues.
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