Hello, this is Eric Golden and my guest today is Dan Hannum, the Chief Operating Officer of ZenLedger, a crypto tax software similar to TurboTax. Dan is here today to help us understand the evolving world of taxes and the impact on crypto, DeFi and NFTs.
For the full show notes, transcript, and links to the best content to learn more, check out the episode page here.
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Show Notes
[00:01:56] - [First question] - How the US tax code is currently structured as it relates to crypto
[00:03:38] - Classifying cryptocurrencies and taxable events when using and trading them
[00:07:24] - Assigning your cost basis based on your transaction
[00:09:53] - Structuring data reported from exchanges and how it’s changed over time
[00:13:09] - What the IRS was suing Coinbase for and why
[00:15:47] - Thoughts on DeFi and reporting transactions to the IRS
[00:18:06] - Airdropped tokens and ways to think about them from a tax perspective
[00:21:34] - Tax loss harvesting and crypto tax loopholes
[00:23:42] - Tax rates for individuals and companies being involved in crypto full-time
[00:25:42] - Writing off lost hard-wallets and reporting losses
[00:29:54] - Burner addresses as proof of destruction or loss
[00:31:23] - ZenLedger’s customer base and a focus on retail investors
[00:34:38] - Keep track of your transaction sources for aggregating your data
[00:36:56] - What he’s most excited to build over the next six months and next ten years
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