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#88 - Tax attorney Andrew Gordon answers the most common crypto tax questions.

Law of Code

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How to Evaluate the Fair Market Value of Cryptocurrencies

The IRS hasn't issued guidance on how do you define fair market value in the context of crypto. They have said that if there's an exchange price available and it's being traded, you can look to that. So, if you're looking at a point, low liquidity or you can only use, for instance, foreign exchange to sell it, something like that, how do you value it? And there is no clear answer.

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