BR Academy

Crypto Tax and Accounting: Cost Basis, DeFi and Reporting

Exit course

← Crypto Tax and Accounting: Cost Basis, DeFi and Reporting

1Module 1: Crypto Tax Basics0/4

What the IRS Says Crypto Is, and Why It Matters8m
Every Transaction That Triggers a Tax Event
Short-Term vs. Long-Term Capital Gains and the 1-Year Rule
Staking Rewards, Airdrops, and Mining as Ordinary Income
Module quiz

2Module 2: Cost Basis and Gain/Loss Calculation0/6

What Cost Basis Is and Why It Matters
First-In, First-Out Cost Basis with Worked Examples
Last-In, First-Out Cost Basis and When to Use It
Specific Identification and How to Elect It
Calculating Realized Gain or Loss on a Sale or Trade
Wash-Sale Rules in Crypto and the 30-Day Rule
Module quiz

3Module 3: Income and Special Transactions0/5

Staking Rewards as Ordinary Income: Timing and Basis
Airdrops, Hard Forks, and Free Coins
Swaps, Liquidity Pools, and Yield Farming
NFT Purchases, Sales, and Transfers
Mining, Lending, and Other Income Sources
Module quiz

4Module 4: Record Keeping and Reconciliation0/5

Exporting Transaction History from Major Exchanges
Tracking Self-Custody Wallets and On-Chain Transactions
Pulling DeFi Transaction History and Reconciling It
Identifying Gaps and Reconstructing Missing Transactions
Building a Master Transaction Log in a Spreadsheet
Module quiz

5Module 5: Filing and Working with a CPA0/5

Filling Out Form 8949 (Sales of Capital Assets)
Schedule D (Capital Gains and Losses) and Net Gain/Loss
Schedule 1 (Other Income) for Staking, Airdrops, and Mining
What to Give Your CPA and What to Ask Them
Using Crypto Tax Software vs. Manual Filing
Module quiz

6Module 6: Advanced Topics and 2026 Rules0/5

Trader Status, Business Income, and Self-Employment Tax
Crypto Tax Rules for Non-US Residents and US Expats
Common Mistakes and What Triggers IRS Scrutiny
New Reporting Requirements and Rule Changes for 2026
A Complete Multi-Year Portfolio from Start to Filing
Module quiz

7Module 7: Capstone Project0/1

Capstone: Prepare a Complete Tax Return for a Provided Portfolio
Module quiz

Module 2: Cost Basis and Gain/Loss Calculation·Lesson 9 of 31·12 min

Calculating Realized Gain or Loss on a Sale or Trade

This lesson is for enrolled learners

The concept Once you've chosen a cost basis method (FIFO, LIFO, or specific identification) and determined which lot(s) a sale consumes, the actual gain-or-loss math is simple arithmetic: Gain or Loss = Proceeds − Cost Basis The entire skill in this lesson is applying that one formula correctly across the three transaction shapes you'll see most often, because "proceeds" means……

Enroll to continue Already enrolled? Sign in