Your tax compass in the Crypto world.

Capital gain is the difference between proceeds from sale and your documented cost basis. Without purchase records, the IRS may treat cost basis as zero, taxing the full sale amount.

FIFO (First In, First Out) assumes the earliest purchased coins are sold first. It is the default method for tracking cost basis when selling partial holdings acquired at different times.

Failure to report foreign accounts (FBAR) can result in penalties up to $10,000 per violation. Underreporting capital gains may trigger accuracy-related penalties and interest on unpaid tax.

Yes. Staking rewards, airdrops, and DeFi income are generally taxable as ordinary income at fair market value when received, and subsequent sales may trigger capital gains.

US persons must report worldwide crypto income and gains regardless of where the exchange is located. FBAR (FinCEN 114) may apply for foreign accounts exceeding $10,000. Coinbase, Binance, Kraken and self-custody wallets all require proper tax reporting.

Bitcoin is treated as property by the IRS. Selling, trading or spending BTC triggers capital gains/losses based on cost basis and holding period. Mining and staking rewards are taxable as income when received.

Most taxpayers report crypto on Form 8949 and Schedule D (capital gains), Schedule 1 or C (income from staking/mining), and potentially Form 1040 questions on digital assets. Our CPA packages include form preparation and audit-ready reports.

Fabbri CryptoTax packages start at $199/year for basic compliance, $399 for active traders with full capital gains reconciliation, and $599 for complex DeFi portfolios. All include CPA advisory and certified tax reports.