Basics of Crypto Taxes

Understand the key aspects of U.S. income taxation of cryptocurrencies that every individual should know but doesn't.

crypto taxes

About this Ebook

Get answers to your burning questions from my book, Basics of Crypto Taxes.

This book covers the most often asked questions about taxation of trading and crypto income. It also discusses the need to report crypto trading on anti-money laundering forms.

Traders still express shock and surprise when I tell them their crypto trades are taxable.

I find most crypto traders have never done any other investing in their lives. They are unaware of how investments are taxed.

Whatever your situation is, it’s your responsibility to learn your tax obligations.

After all, your mother doesn’t tell you to make your bed anymore.

The Price Value of this Book

My passion is to help as many traders as fast as possible.

Among other things, this book addresses the two anti-money laundering forms most traders need to file with their returns. Not filing these are subject to $10,000+ penalties.

So in light of what you can save by not being fined, this book is invaluable. 

The Story Behind this Book

Let me tell you a quick story about when I didn’t understand how cryptos were reported on tax returns.

I already had a tax practice catering to the unique challenges of Americans living abroad. Some of them were investing in cryptos in 2017.

I wanted to understand how to do crypto taxes, so I took a job at a new crypto tax preparation firm working with their sole crypto CPA. My job was to explain crypto taxes to prospects.

There were so many novel situations of crypto investors got into. The IRS had given little guidance. There were no experts. We were pioneers.

Then something really bad happened: Two weeks after I started, the company crypto CPA quit. I was on my own to answer the complex crypto questions.

As you can imagine, I was concerned, but I wasn’t ready to give up on my dream of mastering crypto taxes.

Then I realized I was the only person in the company with an advanced law degree. I was the only Enrolled Agent in the company. I knew I had the expertise to interpret the tax laws in light of the IRS crypto guidance. I researched IRS rulings and court cases. I had to use my legal training and skills to answer each tax situation.

At that point, everything changed!

I became the expert. I realized:

  • A great crypto tax return requires legal expertise and accounting.
  • The anti-money laundering regulations apply to crypto traders just as much as they did to expats.
  • I had mastered crypto taxes. I could find no-one who understood crypto taxes as completely as I did.

Because I could interpret the tax laws in light of the IRS crypto guidance, I was able to:

  • Answer any question on crypto taxes – soon crypto tax gain companies were referring their toughest clients to me.
  • My personal tax prep business exploded from clients seeking my expertise
  • Saved clients fortunes by applying the full breadth of the laws to client situations

Now I’m living my dream of mastering crypto taxes and knowing how to handle every situation.

And that’s why I’m so passionate to tell you about my book “Basics of Crypto Taxes” so you can get excellent advice!

This Book is Clear and Powerful

get your copy to learn the Basis of Crypto Taxes now!

US crypto tax services

Remember to follow me on Facebook and Twitter. Thanks for getting the word out to help your fellow traders.

About the Author

Clinton Donnelly

Clinton Donnelly is an Enrolled Agent with a law degree specializing in the international laws of financial regulation and taxation. As an Enrolled Agent he is admitted to practice before the IRS to represent taxpayers worldwide which is exactly what he does. He has clients in 47 different countries. In 2018, he helped 97 clients recover over $600,000 back from the IRS.

Many of his clients are cryptocurrency traders around the world. His largest trader did over 120,000 transactions. No situation is too complicated.

Clinton Donnelly has also been a tax law advisor to a crypto tax prep firm. He was a trusted tax adviser to three of the online crypto capital gains tax services and a US exchange. He is an author of three books and is a sought-after conference speaker for digital nomads, expats, and cryptotraders.

He specializes in preparing tax returns and resolving IRS problems for cryptotraders and Americans abroad or owning foreign assets.

Basics of Crypto Taxes

An absolute must for every crypto trader to be safe and sleep well at night.​

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