Crypto Tax AMA
I am Andrew Gordon, a CPA and tax attorney. Ask me about crypto tax audits, filing, and compliance in 2024.
hey andrew, thanks for kickin off this chat. i’ve been followin the whole crypto tax scene for a while and got a bit curious though—do u think the increased attention on da decentralized finance side might lead to new guidelines for protocols, not just individual users? i mean, like when it comes to swaps on dexes, it seems there’s a lot of grey areas. also, have you noticed any patterns in how these audits unfold for folks tradin on smaller platforms? would love to hear any examples or thoughts on how traders can best prep themselves before end of year filing. what do u think the next move for regulators might be? cheers for sharing your insights!
Based on recent developments and my own experience keeping up with regulatory shifts, it appears that transparency in every transaction is increasingly critical. Detailed recordkeeping for decentralized finance activities, even on smaller platforms, is not just advisable but may soon become necessary for compliance. There is a growing trend towards standardization, and staying current with evolving guidelines can mitigate potential issues during audits. Utilizing real‐time tracking resources and periodic professional consultations has proven beneficial in navigating this uncertain landscape.
hey, thx for this setup. im wonderin if crypto audits will get harsher in 2024 or if there’s wiggle around coin hodling deductions. any quick tips would be awesome