Understanding crypto tax basis tracking

Understanding crypto tax basis tracking

As cryptocurrencies become more prevalent among traditional businesses, understanding the tax implications and regulatory requirements is crucial. Join Carrie Falkenhayn as she hosts Deloitte’s Rob Massey, Claire Baugher, and Connor O’Brien in a conversation about the increasing use of digital assets in traditional businesses.

This episode dives into the new tax rules for taxpayers to track and recover the basis in these assets. Our experienced team covers the nuances of this emerging asset class, including technology, custody, and the importance of maintaining precise records to support tax outcomes. Gain insights on effective wallet structures, including the distinction between hosted and unhosted wallets, tax planning considerations, and practical approaches to enhance tax efficiency in your organization.

We’re looking at a unique lens for tax and accounting and controls because crypto varies in its type and in terms of how it’s treated compared to cash or other investments.

                                              —Rob Massey