Self-Study
Virtual Currency Taxation
Define virtual currency and understand its tax implications and IRS reporting requirements,.
$29.00 – $49.00
Webcasts are available for viewing Monday – Saturday, 8am – 8pm ET.
Without FlexCast, you must start with enough time to finish. (1 Hr/Credit)
Secure Transaction CPE Credits
1 Credits: Taxes
Course Level
Overview
Format
Self-Study
Course Description
Most virtual currency transactions involving a sale or exchange will have a taxable outcome. In the Virtual Currency Taxation course, we describe the basics of virtual currencies, and then delve into the cost basis of virtual currency, followed by the tax status of a number of virtual currency transactions. These transactions include virtual currency paid for services rendered, exchanges of property for virtual currency, charitable gift situations, and airdrop distributions. The course also covers IRS transaction recordation and reporting requirements.
Learning Objectives
Upon successful completion of this course, participants will be able to:
- Specify the characteristics of virtual currency.
- Recall the characteristics of a cryptocurrency wallet.
- Specify how the proof of work method functions.
- Recall how virtual currencies are taxed when they are sold, exchanged, or otherwise disposed of.
- Identify the self-employment tax issues related to virtual currency payments made in exchange for services rendered.
Course Specifics
SS824371692
February 9, 2024
There are no prerequisites.
None
30
Compliance Information
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-02448-24-S
IRS Federal Tax Law Credits: 1
CTEC Course Number: 2071-CE-2003
CTEC Federal Tax Law Credits: 1
CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.
CTEC Notice: California Tax Education Council DOES NOT allow partial credit, course must be taken in entirety. Western CPE has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, by phone toll-free at (877) 850-2832, or on the Internet at www.ctec.org.
Meet The Experts
Steven M. Bragg, CPA, is a full-time book and course author who has written more than 300 business books and courses. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast. Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and …
QAS Self-Study
