Group 4 Created with Sketch.
Your changes have been saved
Episode 210 of 235

Everything You Need to Know About Your 2020 Crypto Taxes - Ep.210

Share
station description Your No-Hype Resource for All Things Crypto
‎Unchained
Duration: 01:15:30
In this episode, Shehan Chandrasekara, head of strategy at CoinTracker, and Dan Hannum COO at Zen Ledger, take a deep dive into the world of crypto taxes. Over an hour and fifteen minutes they tackle a bevy of topics ranging from why the IRS is asking about your crypto history to explaining the prop
Snippets are a new way to share audio!
You can clip a small part of any file to share, add to playlist, and transcribe automatically. Just click the to create your snippet!
Snippets: Clips of Everything You Need to Know About Your 2020 Crypto Taxes - Ep.210 that people like
There are currently no snippets from Everything You Need to Know About Your 2020 Crypto Taxes - Ep.210.
Snippets are an easy way to highlight your favorite soundbite from any piece of audio and share with friends, or make a trailer for ‎Unchained
Playlists that Everything You Need to Know About Your 2020 Crypto Taxes - Ep.210 appears on.
There are currently no playlists containing this audio.
Add this audio track to one of your playlists
Add to Playlist
Up Next
Full Description
Back to Top
In this episode, Shehan Chandrasekara, head of strategy at CoinTracker, and Dan Hannum COO at Zen Ledger, take a deep dive into the world of crypto taxes. Over an hour and fifteen minutes they tackle a bevy of topics ranging from why the IRS is asking about your crypto history to explaining the proper way of reporting yield farming income. Shehan and Dan give up their hard-earned tax secrets and tips learned through building their respective cutting-edge crypto tax software. Here is a list of talking points covered in the discussion: how the IRS is handling crypto this year (1:20) where to start with reporting crypto and what constitutes a taxable event (5:59) bitcoin corner cases: mining, with a description of calculating cost basis (19:48)  wages (27:01) peer-to-peer transactions outside of exchanges (28:23) defi and taxes: yield farming — and how it's like Russian nesting dolls (31:45) how the IRS taxes earned interest (36:32) airdrops (40:15) crypto transactions that are not taxable: purchases, withdrawals, and stablecoins (46:28) navigating tax documents (51:24-58-10) NFT’s and social tokens (57:14) tax loss harvesting (1:03:09) how having coins on platforms like Robinhood and Paypal can have an effect on your taxes (1:05:05) proposed tax changes (1:06:50) crypto tax software and tips for the upcoming year (1:10:29)   Thank you to our sponsor!  Crypto.com: http://crypto.com   Episode links:    Guests Shehan Chandrasekara: https://twitter.com/TheCryptoCPA Dan Hannum: https://twitter.com/DHannum8    Software CoinTracker: cointracker.io ZenLedger: zenledger.io   Accounting LIFO, HIFO, FIFO: https://www.forbes.com/sites/shehanchandrasekera/2020/09/17/what-crypto-taxpayers-need-to-know-about-fifo-lifo-hifo-specific-id/?sh=7077f8e936aa (written by Shehan) 1040 Question: https://fortune.com/2020/09/28/the-irs-is-adding-a-cryptocurrency-question-to-form-1040-for-2020/ 1099 Misc: https://www.irs.gov/pub/irs-pdf/f1099msc.pdf 1099 B: https://www.irs.gov/forms-pubs/about-form-1099-b   Regulatory research: 2014 IRS Tax Guidance: https://www.irs.gov/pub/irs-drop/n-14-21.pdf IRS Virtual Currency page: https://www.irs.gov/businesses/small-businesses-self-employed/virtual-currencies IRS gains and losses: https://www.irs.gov/pub/irs-pdf/p550.pdf Equipment write-offs: https://www.section179.org/section_179_deduction/ IRS sues Coinbase: https://www.theverge.com/2017/11/29/16717416/us-coinbase-irs-records How holding crypto at PayPal or Robinhood or any platform that does not allow you to transfer to an address off-platform could affect your taxes: <a href="https://www.forbes.com/sites/shehanchandrasekera/2021/01/28/exiting-robinhood-could-create-a-tax-nig
Up Next
Add to playlist
New playlist

Embed

COPY
Embed Options
Create Playlist
Select the Station you want to upload this audio to
Station
0 / 140
0 / 2000
Playlist Icon Image:
(.jpg, .png, min size 500x500px)
Privacy
Subscribers
Your
voice
matters.
Discover & Listen to the world’s largest free collection of audio
Password reset

Enter your email address that you used to register. We'll send you an email with your username and a link to reset your password.



If you still need help, contact Vurbl Support
Password reset sent

You have been sent instructions on resetting you password to the email associated with your account. Please check your email and signing in again.


Back to Sign In
If you still need help, contact Vurbl Support
Your
voice
matters.
Discover & Listen to the world’s largest free collection of audio
Reset password

Please enter your new password below.



If you still need help, contact Vurbl Support
Your voice matters.
Discover & Listen to the world’s largest free collection of audio
Verify Email

Enter your email address that you used to register. We'll send you an email with a link to verify your email.



Cancel
Delete Profile
Are you sure? We will miss you :'(
Delete
Delete Audio
Are you sure?
Delete
Delete Playlist
Are you sure you want to delete this playlist?
Delete
Notifications Mark all as read
    You currently have no notifications
    Edit Snippet
    0 / 140
    0 / 140