About Course

This self-study program equips tax return preparers with the federal tax knowledge required to accurately report digital asset transactions on client returns. The course covers IRS Notice 2014-21, Rev. Rul. 2023-14, and the Infrastructure Investment and Jobs Act digital asset reporting provisions, including the forthcoming Form 1099-DA. Participants will learn to identify taxable and nontaxable digital asset events, calculate gain or loss using correct basis methods, complete Form 8949 and Schedule D, handle mining and staking income, and apply preparer due diligence standards to returns involving cryptocurrency, NFTs, and other digital assets. The course is designed for tax preparers who encounter digital asset questions from clients but do not yet have formal training in this rapidly evolving area of federal tax law.

Course Content

Module 1 – Digital Assets Fundamentals
Learn the fundamentals of digital assets, including cryptocurrency, NFTs, wallets, exchanges, cost basis, recordkeeping requirements, and the difference between taxable and nontaxable transactions.

Digital Assets Fundamentals

Module 2 – Crypto Sales, Gains, and Reporting
Understand how to calculate gains and losses, apply basis methods, determine holding periods, and properly report digital asset transactions on Form 8949 and Schedule D.

Module 3 – Mining, Staking, NFTs, and Self-Employment
Explore the tax treatment of mining income, staking rewards, airdrops, NFTs, and digital asset activities that may be subject to self-employment tax.

Module 4 – IRS Enforcement and Due Diligence
Review Form 1099-DA reporting requirements, IRS enforcement initiatives, common audit risks, and preparer due diligence responsibilities for returns involving digital assets.

Final Assessment – Digital Asset Tax Reporting and IRS Compliance
This final examination assesses the participant’s understanding of digital asset taxation, reporting requirements, gain and loss calculations, and IRS compliance rules covered throughout the course.

About Course

Related Courses

What Will You Learn?

Course Content

Module 1 – Digital Assets Fundamentals Learn the fundamentals of digital assets, including cryptocurrency, NFTs, wallets, exchanges, cost basis, recordkeeping requirements, and the difference between taxable and nontaxable transactions.

Digital Assets Fundamentals

Module 2 – Crypto Sales, Gains, and Reporting Understand how to calculate gains and losses, apply basis methods, determine holding periods, and properly report digital asset transactions on Form 8949 and Schedule D.

Crypto Sales, Gains, and Reporting

Module 3 – Mining, Staking, NFTs, and Self-Employment Explore the tax treatment of mining income, staking rewards, airdrops, NFTs, and digital asset activities that may be subject to self-employment tax.

Mining, Staking, NFTs, and Self-Employment

Module 4 – IRS Enforcement and Due Diligence Review Form 1099-DA reporting requirements, IRS enforcement initiatives, common audit risks, and preparer due diligence responsibilities for returns involving digital assets.

IRS Enforcement and Due Diligence

Final Assessment – Digital Asset Tax Reporting and IRS Compliance This final examination assesses the participant’s understanding of digital asset taxation, reporting requirements, gain and loss calculations, and IRS compliance rules covered throughout the course.

Digital Asset Tax Reporting and IRS Compliance

Module 1 – Digital Assets Fundamentals
Learn the fundamentals of digital assets, including cryptocurrency, NFTs, wallets, exchanges, cost basis, recordkeeping requirements, and the difference between taxable and nontaxable transactions.

Module 2 – Crypto Sales, Gains, and Reporting
Understand how to calculate gains and losses, apply basis methods, determine holding periods, and properly report digital asset transactions on Form 8949 and Schedule D.

Module 3 – Mining, Staking, NFTs, and Self-Employment
Explore the tax treatment of mining income, staking rewards, airdrops, NFTs, and digital asset activities that may be subject to self-employment tax.

Module 4 – IRS Enforcement and Due Diligence
Review Form 1099-DA reporting requirements, IRS enforcement initiatives, common audit risks, and preparer due diligence responsibilities for returns involving digital assets.

Final Assessment – Digital Asset Tax Reporting and IRS Compliance
This final examination assesses the participant’s understanding of digital asset taxation, reporting requirements, gain and loss calculations, and IRS compliance rules covered throughout the course.