Your 2021 Crypto Taxes: How to Handle NFTs, DAOs, Airdrops and More - Ep.320

Two crypto tax experts, Shehan Chandrasekera, certified public accountant and head of strategy, Tax, at Cointracker, and John Cardone, senior director of Washington National Tax at RSM US LLP, explain everything crypto traders need to understand when filing taxes for 2021. Show topics:
-the five types of transactions that constitute a taxable crypto event
-how NFT taxes should be reported
-why the sale of collectibles (NFTs) is taxed differently than the sale of crypto property (tokens)
-what type of forms you might receive from crypto exchanges and why this information is usually incomplete
-why the crypto provision in the infrastructure bill most likely won’t affect retail traders
-why John wants a digital asset-specific 1099 form
-how staking income will be taxed this year (and why this might change soon)
-how to report taxes for…
airdrops like ENS and SOS
income earned via a play-to-earn game like Axie Infinity
the sale of virtual land
wrapping Bitcoin onto Ethereum
rewards received via a crypto credit card
-how to save money on taxes going forward
-how Shehan and John think crypto taxes will evolve 
-why the IRS listed a job posting for someone who could exploit crypto wallets
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Episode Links

John Cardone
​​https://www.linkedin.com/in/john-cardone-436412b1/

Shehan Chandrasekera
https://twitter.com/TheCryptoCPA
Helpful Links
Shehan’s tax guide: https://www.forbes.com/sites/shehanchandrasekera/2022/01/24/quick-guide-to-filing-your-2021-cryptocurrency--nft-taxes/?sh=d5c00f765f9d /> Staking rewards case: https://twitter.com/TheCryptoCPA/status/1489268205877035016 
US Gov. job posting: https://sam.gov/opp/799a1650bd5349b6af4f646842999187/view
2022 Crypto Tax Guides
CoinTracker: https://www.cointracker.io/blog/crypto-tax-guide /> CryptoTrader.Tax: https://cryptotrader.tax/blog/the-traders-guide-to-cryptocurrency-taxes /> Koinly: https://koinly.io/cryptocurrency-taxes/ 
ZenLedger: https://www.zenledger.io/guides/crypto-tax-us