April 24, 2023

Clinton interviews David Canedo, Head of Tax and Compliance Strategy at Accointing by Glassnode, discussing the challenge of classifying the tax nature of crypto transactions, particularly with NFTs. They explore methods such as analyzing total users, TVL, smart contracts, and patterns to find scalable solutions in the rapidly evolving crypto landscape. The interview highlights the complexity of classifying taxable sales, income, or non-taxable exchanges in the expanding world of Dapps and blockchains.

💎 Guest: David Canedo, Head of Tax and Compliance Strategy at Accointing by Glassnode
For daily insights into Crypto portfolio tracking, market intelligence, tax and compliance solutions for smart investors, follow Accointing by Glassnode:
👉@accointing

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▬▬▬▬▬ TIMESTAMPS ▬▬▬▬▬

00:00 Intro
01:00 David Canedo, Head of Tax and Compliance Strategy at Accointing by Glassnode
02:40 Accointing's Ownership Move to Glassnode.
03:55 Crypto taxes
05:57 Crypto taxes complexity questioned
06:08 Perception of tax automation accuracy challenged
10:04 Uniswap V3 and NFT Rewards
10:23 Challenges in Analyzing Crypto Transactions
12:19 Keeping up with Innovation in DeFi
12:46 NFTs and Taxation
13:36 Handling NFTs with No Purchase Price
14:01 Value of gaming NFTs and collaboration challenges
15:01 Difficulty of retaining cost basis information in NFTs
15:22 IRS announcement on taxing NFTs as collectibles
17:04 Challenges of identifying data for collectible NFTs
18:27 Burden of the Look-Through Analysis
18:33 Digital Files and Intangibles
18:44 Collectibles and Tangible Objects
19:29 The alternative minimum tax rate on collectibles
20:00 Differentiating between a collectible and a fad
21:25 Complexity of treating cryptos as stocks or collectibles
22:29 Concerns about money laundering with NFTs
27:39 Our Sponsor: CryptoTaxAudit

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📣 Host: Clinton Donnelly
Twitter 👉 https://twitter.com/CryptoTaxFixer

Clinton Donnelly, LLM, EA, is the president and founder of CryptoTaxAudit. Clinton holds an advanced law degree in international financial planning and taxation. He is an enrolled agent authorized to represent taxpayers before the IRS. Clinton also holds a Certified Cryptoasset Anti-Financial Crime Specialist certification.

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📜 Disclaimer
All opinions expressed by the show’s host and guests are their own. Do not construe them as tax, legal, or financial advice. In addition, they may not represent the policies or opinions of our sponsor, CryptoTaxAudit. Research legal, tax, and financial guidance and advice as needed.

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