Form 8949 cryptocurrency compliance for your 1040 clients

Is your firm ready for accurate Form 8949 cryptocurrency reporting for your 1040 clients?

One of the defining market trends of 2020-21 was the mainstream surge in cryptocurrency. In the first half of 2021 alone, the total number of cryptocurrency users shot up from 106 million to 221 million, according to a July 2021 research report released by Crypto.com. 1040 clients who need cryptocurrency reporting will increase drastically in the coming tax seasons.

In this whitepaper, we’ll be looking at:

• What is cryptocurrency and how does it work?
• What are considered taxable events within the cryptocurrency marketplace?
• What are the best practices for preparing Form 8949 for cryptocurrency reporting?

Prepare for the flood of 1040 clients with cryptocurrency reporting needs!