🤠 Howdy from Texas, y’all! And, Happy Saturday🌞
It’s Saim — your Crypto CPA from the Lone Star State
🔁 Blockchain runs on fees — and those fees aren’t paid in USD 💵
They’re paid in tokens like ETH, SOL, BTC, ARB, and more 🪙
That fee = a disposal = a sale
📊 Which means it needs to be reported as a capital gain or loss
🧾 For individuals, that means filling out:
👉 Form 8949
👉 Schedule D
With all the key details — date, proceeds, cost basis, etc.
⚠️ Can’t prove it’s long-term? IRS treats it as short-term 📉
#CryptoTax #Form8949 #ScheduleD #CryptoFees #CapitalGains #CryptoCPA #AkifCPA #BlockchainBasics #Ethereum #Bitcoin #TaxTips
Full video on my YouTube Channel!
Why You Need to Report Even the Smallest Transfer Fees and Transaction Fees:
https://www.youtube.com/watch?v=Aijojmm24ss&ab_channel=AKIFCPA
Thanks for watching! 👋
A bit about us at Akif CPA:
We’ve got a crew of talented tax pros who really know their stuff when it comes to taxes, accounting, business advice, payroll, reviews, sales tax audits, and financial planning.
🇺🇸 (713) 451-9700
🇨🇦 (416) 800-2709
⭐ info@akifcpa.com
🌐 www.akifcpa.com
https://www.youtube.com/@AKIFCPA1
https://www.tiktok.com/@akif.cpa
https://www.instagram.com/akifcpa/
https://www.linkedin.com/company/akif-cpa-pllc
#Blockchain #CryptoAccounting #ERC3643 #NFTs #DeFi #SmartContracts #AkifCPA #CryptoTax #Tokenization #Web3Finance