Guide to Reporting Digital Assets on
Your U.S. Federal Tax Return
This guide provides essential information on how to report digital assets, including cryptocurrencies and NFTs, on your U.S. federal tax return. It explains what qualifies as a digital asset, how to answer the digital asset question on tax forms, and the steps to report digital asset transactions. It covers the necessary forms, the importance of maintaining records, and how to calculate capital gains or losses. It also includes references to relevant IRS publications and regulations for more detailed guidance.
Overview of FASB Accounting
Standards Updates (ASUs): Key
Amendments and Implementation
Guidelines
This outlines the Accounting Standards Updates (ASUs) issued by the Financial Accounting Standards Board (FASB). ASUs communicate amendments to the FASB Accounting Standards Codification, which is the authoritative source of U.S. GAAP. Each ASU details the specific changes made to GAAP, the rationale behind these changes, and the effective dates along with the required transition methods. Although ASUs themselves are not authoritative standards, they play a crucial role in keeping the codification up-to-date.
Effective Dates and Adoption
Guidelines for Recent FASB
Accounting Standards Updates
A comprehensive list of recent Accounting Standards Updates (ASUs) issued by the Financial Accounting Standards Board (FASB) along with their effective dates. Each ASU includes specific amendments to the FASB Accounting Standards Codification, detailing when these changes will come into effect for public business entities and other entities.
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