Cryptocurrency Compliance

Did you send, receive, buy, sell, trade, or earn cryptocurrency? You may have triggered a taxable event. 

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Because the IRS considers cryptocurrency to be property, the basis needs to be tracked across all transactions, taxable or not. The tax forms you receive from exchanges like Coinbase can't take this into account and are almost always wrong. Relying on them alone will cause you to be double-taxed, wipe out gains, and not allow you to take credit for losses.

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Engage with a professional that knows the law and will take the time to track your basis to make sure you don't overpay the IRS.