Crypto Tax And Accounting From A Former IRS Agent w/ Mel Crilley | Episode 03 Fort Brox Crypto Podcast Fort Brox Podcast

We had the great pleasure of talking with a former IRS (Internal Revenue Service) agent, Mel Crilley an Enrolled Agent shares information about tax with cryptocurrency. Mel shares an amazing amount of details by answering all of our questions and providing insights to how crypto and taxes work.

Everything from how crypto is taxed to what constitutes a taxable event was discussed. We had more questions than one episode could fit, Mel will definitely be coming back, but please enjoy. and we hope you find value in the information shared by a former IRS agent.

In this episode we talk about


How the IRS classifies cryptocurrency
What constitutes a taxable event with cryptocurrency
The differences of buying crypto, trading, and selling
Airdrops
The potential of leveraging your crypto portfolio for fiat loans
How crypto is governed
What is currently happening with cryptocurrency as a short-term gain and a long-term gain
What you need to track with your crypto portfolio
How NFTs are taxed
Helpful ways to track your crypto portfolio

and a whole lot more...

Follow-up Links Mentioned In The Episode‍


What is an Enrolled agent
Video walkthroughs we have for walk-throughs to get your tax information on exchanges
Link to Cointracker, Koinly, TaxBit
Coinbase lending product squashed by (source)
Mercury Bank
The “wash rule” link to meaning
Federal reserve coin debate
What is CBDC = Central Bank Digital Currency
The Age of Cryptocurrency link
IRS.gov crypto links
Melcrilleyea.com
Tax forms for crypto (TurboTax)

Original music by The Celebrators
@thecelebratorsband 

Produced by Vocal Visual and Wizard Cats