Tax season is back, and crypto reporting is getting a lot more… specific. We’re joined by returning guest Clinton Donnelly of CryptoTaxAudit to break down the biggest crypto tax changes affecting U.S. traders this year—what forms are coming, what the IRS will see, and the most common ways people accidentally trigger problems. If you’ve traded on U.S.-based exchanges, this episode is your wake-up call.

In this episode, we cover:


Why crypto taxes are getting more complicated (and more visible)


New 1099-DA reporting: what it is and what exchanges may report


Why “proceeds vs. cost basis” matters (and where confusion hits)


The Form 8949 change: crypto transactions being separated out


The “match the proceeds” issue that can trigger nasty IRS letters


New FIFO requirement by wallet/account (and why it can change your tax bill)


Why audits can drag on for years (and what “audit-proofing” really means)


Practical advice for staying compliant without losing your mind

The 3 big crypto tax changes Clinton highlights:


1099-DA is here (for U.S.-based exchanges)


Crypto gets its own lane on Form 8949 (more visibility for the IRS)


FIFO by wallet/account becomes required (can reshape gains calculations)

Helpful link:


Work with Clinton / CryptoTaxAudit: http://badco.in/tax

Tax season is back, and crypto reporting is getting a lot more&hellip; specific. We&rsquo;re joined by returning guest Clinton Donnelly of CryptoTaxAudit to break down the biggest crypto tax changes affecting U.S. traders this year&mdash;what forms are coming, what the IRS will see, and the most common ways people accidentally trigger problems. If you&rsquo;ve traded on U.S.-based exchanges, this episode is your wake-up call.
In this episode, we cover:
<ul data-start="1709" data-end="2273">
<li data-start="1709" data-end="1775">
Why crypto taxes are getting more complicated (and more visible)
</li>
<li data-start="1776" data-end="1845">
New 1099-DA reporting: what it is and what exchanges may report
</li>
<li data-start="1846" data-end="1912">
Why &ldquo;proceeds vs. cost basis&rdquo; matters (and where confusion hits)
</li>
<li data-start="1913" data-end="1980">
The Form 8949 change: crypto transactions being separated out
</li>
<li data-start="1981" data-end="2048">
The &ldquo;match the proceeds&rdquo; issue that can trigger nasty IRS letters
</li>
<li data-start="2049" data-end="2131">
New FIFO requirement by wallet/account (and why it can change your tax bill)
</li>
<li data-start="2132" data-end="2207">
Why audits can drag on for years (and what &ldquo;audit-proofing&rdquo; really means)
</li>
<li data-start="2208" data-end="2273">
Practical advice for staying compliant without losing your mind
</li>
</ul>
The 3 big crypto tax changes Clinton highlights:
<ol data-start="2328" data-end="2536">
<li data-start="2328" data-end="2379">
1099-DA is here (for U.S.-based exchanges)
</li>
<li data-start="2380" data-end="2456">
Crypto gets its own lane on Form 8949 (more visibility for the IRS)
</li>
<li data-start="2457" data-end="2536">
FIFO by wallet/account becomes required (can reshape gains calculations)
</li>
</ol>
Helpful link:
<ul data-start="2556" data-end="2610">
<li data-start="2556" data-end="2610">
Work with Clinton / CryptoTaxAudit: http://badco.in/tax
</li>
</ul>

Technologists and crypto-enthusiasts Joel Comm and Travis Wright attempt to demystify the world of bitcoin, blockchain, litecoin, ethereum, alt-coins, token generation events, and ICOs in this podcast for cryptocurrency newbies.

Bitcoin, Blockchain, and Cryptocurrency for newbies

The Bad Crypto Podcast

Since 2017, technologists and crypto-enthusiasts Joel Comm and Travis Wright have attempted to demystify the world of bitcoin, blockchain, ethereum, altcoins, NFTs, Play-2-earn, the metaverse and Web3 in this podcast for cryptocurrency newbies and veterans alike!

Featuring some of the biggest names and most prolific movers-and-shakers in the space, the pair put the spotlight on their guests while taking listeners along for the journey down the rabbit hole.

Past guests have included John McAfee, Richard Heart, Tom Bilyeu, Vitalik Buterin, Roger Ver, Brock Pierce, Michael Terpin, Brittany Kaiser, Max Kaiser, Tim Draper, CZ and many more. 

Since 2017, technologists and crypto-enthusiasts Joel Comm and Travis Wright have attempted to demystify the world of bitcoin, blockchain, ethereum, altcoins, NFTs, Play-2-earn, the metaverse and Web3 in this podcast for cryptocurrency newbies and veterans alike!
Featuring some of the biggest names and most prolific movers-and-shakers in the space, the pair put the spotlight on their guests while taking listeners along for the journey down the rabbit hole.
Past guests have included John McAfee, Richard Heart, Tom Bilyeu, Vitalik Buterin, Roger Ver, Brock Pierce, Michael Terpin, Brittany Kaiser, Max Kaiser, Tim Draper, CZ and many more.&nbsp;