Experience Category: Individuals

Like-Kind Exchange Principles Applicable to Cryptocurrency

Analysis and qualified advice on potential application of pre-2018 like-kind exchange rules to crypto-to-crypto swaps.  Distinctions between different categories of cryptocurrencies.  Work with outside contractor to develop bespoke software to track high-volume transactions (up to mm’s of transactions) tracing through original cost basis and transferred amounts and values in non-recombinant splitting of transfers with differing historical tax basis.  Consideration of overwhelming reporting requirements for high-volume algorithmic traders and pro and con of need for voluminous paper filing on full range of trades.

Evaluation of Charitable Contributions of Highly-Appreciated Tokens

Evaluation of contribution of highly-appreciated cryptocurrency tokens to 501(c)(3).  Obtaining a qualified appraisal for nontraditional asset class (ICO), analysis of tacked holding period for purposes of long term/short term character of contributed assets obtained through convoluted chain of asset ownership.

Appeal of NOL Carryback on AMT Item

Appeal of technical aspects of AMT carryover of impact of NOL caused by Miscellaneous Itemized Deduction in subsequent year.   Multiple layers of appeal and involvement of the Taxpayer’s Advocate office resulting in successful outcome for taxpayer on prior year refund.
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