Crypto assets reporting may be one of the biggest challenges — and opportunities — for tax professionals during the current extension and upcoming tax seasons.

With the updated 2020 IRS Form 1040 now including a dedicated field for virtual currency reporting and compliance, tens of millions of American traders are seeing this recently updated question for the first time. Every virtual currency transaction is considered a taxable event, but seeing that cryptocurrency exchanges don't provide Form 1099B like more traditional investment firms, it becomes the tax professional's responsibility to calculate gains and losses, cost basis, etc. Unfortunately, this can be incredibly complex, particularly if your clients use multiple exchanges. Many of them will have questions about what to do and how to respond, and they'll be coming to you for answers.

Join us for this 60 minute, CPE accredited webinar -- led by Kell Canty, CEO of Ledgible -- to learn the ins and outs of cryptocurrency reporting. We'll explain the challenges and opportunities of crypto assets and share the tools needed to grow your practice. We'll also discuss the many benefits of direct integration between Ledgible and CCH Axcess Tax, Wolters Kluwer's ground-breaking, cloud-based tax prep and compliance solution.