Digital assets and virtual currency tax guidance and resources

Sharpen your tax knowledge on digital assets and understand the tax complexities and strategies involved with virtual currency and cryptocurrency.

With the growing popularity of digital asset transactions including virtual currency and cryptocurrency, the need for accurate tax reporting is imperative. The IRS made the topic one of their compliance priorities specifically adding a digital asset question at the top of page one of the Form 1040.

While the IRS treats a digital asset as property for federal income tax purposes, other questions remain for more nuanced situations. The AICPA continues to work towards more guidance and clarity in this area.

Below is a consolidation of guidance and resources to help you navigate the tax complexities of digital asset reporting.

With the growing popularity of digital asset transactions including virtual currency and cryptocurrency, the need for accurate tax reporting is imperative. The IRS made the topic one of their compliance priorities specifically adding a digital asset question at the top of page one of the Form 1040.

While the IRS treats a digital asset as property for federal income tax purposes, other questions remain for more nuanced situations. The AICPA continues to work towards more guidance and clarity in this area.

Below is a consolidation of guidance and resources to help you navigate the tax complexities of digital asset reporting.

Featured resources

Spotlight on tools, guides and professional insights to help you stay at the forefront of professional developments.

digital abstract art

The Digital Asset Tax Framework

Abstract digital landscape or soundwaves

The Digital Asset Tax Framework — Excerpt

Digital asset safe harbor — Rev. Proc. 2024-28 FAQs

construction and real-estate abstract

State guidance on taxation and reporting of digital assets

Featured resources

Spotlight on tools, guides and professional insights to help you stay at the forefront of professional developments.

digital abstract art

The Digital Asset Tax Framework

Abstract digital landscape or soundwaves

The Digital Asset Tax Framework — Excerpt

Digital asset safe harbor — Rev. Proc. 2024-28 FAQs

construction and real-estate abstract

State guidance on taxation and reporting of digital assets

Questions you should be asking clients

To get a clearer picture of your clients’ digital asset activities for tax purposes, consider a series of questions to ask them.

Nik Fahrer, CPA provides three examples.

A detailed questionnaire to go over with clients is available to Tax Section members.

Questions you should be asking clients

To get a clearer picture of your clients’ digital asset activities for tax purposes, consider a series of questions to ask them.

Nik Fahrer, CPA provides three examples.

A detailed questionnaire to go over with clients is available to Tax Section members.

Additional guidance and resources

AICPA Advocacy

The AICPA Virtual Currency and Digital Assets Tax Task Force is currently monitoring and/or preparing comments.

Comment letters

AICPA comments on the Department of Treasury’s advance notice of proposed rulemaking regarding the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act (P.L. 119-27), November 4, 2025
Written Statement and Oral Testimony on Senate Finance Committee Hearing on Examining the Taxation of Digital Assets, October 1, 2025
Guidance for taxpayers to allocate basis in digital assets to wallets or accounts as of Jan. 1, 2025 [Revenue Procedure 2024-28], Oct. 14, 2024
AICPA additional comments on the proposed Section 6045 regulations on gross proceeds and basis reporting by brokers and determination of amount realized and basis for digital asset transactions, March 4, 2024
AICPA comments on the proposed Section 6045 regulations on gross proceeds and basis reporting by brokers and determination of amount realized and basis for digital asset transactions, Nov. 8, 2023
AICPA comments in response to the July 11, 2023, Senate Finance Committee letter on taxation of digital assets, Sept. 8, 2023
AICPA comments on the IRS Draft 2023 Forms 1040, 1065, 1120, and 1120-S Digital Asset Question, July 28, 2023
AICPA comments on Non-Fungible Tokens – Notice 2023-27, June 16, 2023
AICPA comments on tax treatment of losses of digital assets, April 14, 2023

For more earlier comment letters, see Tax Advocacy.

Resources

Podcast

View more podcast episodes from the Tax Section Odyssey.

News, articles and other explanatory materials

AICPA tax policy and advocacy successes: 2025 highlights, The Tax Adviser, Jan. 16, 2026
Even an expert says: Digital asset reporting creates headaches, The Tax Adviser, Dec. 17,2025
Digital asset transactions: Broker reporting, amount realized, and basis,The Tax Adviser, Nov. 30, 2025
Strengthening American Leadership In Digital Financial Technology, Presidential Working Group (Working Group), July 2025
Global expansion of e-invoicing and digital reporting obligations for nonresidents, The Tax Adviser, June 30, 2025
IRS provides additional transitional relief for certain digital asset brokers, The Tax Adviser, June 13, 2025
Treatment of digital assets transferred to employees, The Tax Adviser, Jan. 9, 2025
AICPA tax policy and advocacy successes: 2024 highlights, The Tax Adviser, Jan. 9, 2025
Alternative methods allowed for identification of digital assets, The Tax Adviser, Jan. 3, 2025
Universal accounting for digital assets concludes, but safe harbor available, The Tax Adviser, October 29, 2024
IRS releases updated draft of Form 1099-DA for digital assets, The Tax Adviser, August 13, 2024
Bitcoin ETFs: The known and unknown, The Tax Adviser, August 1, 2024
IRS issues final regs. on reporting requirements for digital assets, The Tax Adviser, July 1, 2024
Draft of Form 1099-DA for reporting digital asset transactions released, The Tax Adviser, April 23, 2024
AICPA tax advocacy on digital assets, The Tax Adviser, Jan. 1, 2024

View all digital asset and virtual currency tax news.

IRS guidance and resources

Visit the AICPA digital assets, virtual currency and blockchain resource center for a comprehensive library of guidance and resources.

Visit the AICPA digital assets, virtual currency and blockchain resource center for a comprehensive library of guidance and resources.

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