ATTORNEY HOLDING LL.M. MASTER OF LAWS TAXATION & CPA.
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ATTORNEY HOLDING LL.M. MASTER OF LAWS TAXATION & CPA.
Tax law is complex. Tax attorney ALENA MILES offers legal tax solutions
CRYPTO & DIGITAL ASSETS Crypto Tax Compliance
If you sell or dispose of digital assets like cryptocurrency, it’s important to understand your tax compliance obligations. The same general tax rules that apply to property transactions also apply to digital asset transactions.
For example, if you hold digital assets as a capital asset and sell, exchange, or transfer them, you need to calculate your capital gains or losses and report them accurately on your federal income tax return.
If you receive digital assets as compensation for services, you must report that income as wages on your tax return. Similarly, if you accept cryptocurrency or other digital assets as payment for sales in a trade or business, that income must be reported on your tax return just like regular business income.
In cases where you lose cryptocurrency due to theft or fraud, the IRS treats these losses differently for tax purposes, so proper classification and reporting are essential to comply with tax laws.
Our Services & How We Can Help With Tax Reporting and Compliance
Tax Reporting & Compliance Analysis
We assist with calculating, reporting, and properly characterizing gains from digital asset transactions to ensure accurate cryptocurrency tax reporting and IRS compliance.
Tax Planning for Digital Assets
We help structure crypto and digital asset transactions to optimize your tax liabilities and maximize available tax benefits under current IRS regulations.
IRS Audit Defense & Representation
If you face an IRS audit related to cryptocurrency or digital asset taxes, we provide audit defense services and represent you before the IRS to protect your interests.
Cryptocurrency Losses and Tax Strategies
In cases of crypto losses due to theft, fraud, or other causes, we assist with tax planning strategies to help minimize your tax burden and comply with IRS rules.
New Compliance Obligations – 2025 & Beyond: IRS Digital Asset Broker Reporting and Real Estate Tax R
The IRS recently issued final regulations requiring broker reporting of sales and exchanges of digital assets, including cryptocurrency, that are taxable under current law. These transactions will be reported on the new IRS Form 1099-DA, Digital Asset Proceeds From Broker Transactions. Although the form is currently in draft status, taxpayers and brokers should prepare for its upcoming release.
Additionally, real estate professionals may have new reporting obligations beginning January 1, 2026. Buyers and sellers involved in real estate transactions that include digital asset payments must report the fair market value of those digital assets during closing. This requirement adds another layer of tax compliance for digital currency transactions in real estate sales.
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