Events Search
  Summary & Check Out (0)
Monday, May 19, 2025 Live Webcast

Donating Cryptocurrency and Avoiding Traps for the Unwary (X4-6407867)

10:00 AM - 11:49 AM EDT
webcast

Vendor Platform

2 CPE Credits in TX

OVERVIEW

As the digital asset market continues to mature, more taxpayers may be contemplating blessing their favorite charitable organizations with gifts of cryptocurrency.  Beneficiaries unfamiliar with digital assets may find it challenging to properly report any of these types of donations.  Likewise, taxpayers will need to ensure that they properly value and substantiate any contributions or potentially risk their charitable deductions being denied. This course will provide a brief overview of digital assets.  This will be followed by a discussion of the rules regarding the documentation required when claiming a charitable contribution of digital assets.  This course will also cover recent IRS publications and cases discussing taxpayers whose deductions of digital assets charitable gifts were scrutinized.

**Please Note:  If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to kori.herrera@acpen.com.
 

DESIGNED FOR

This course is suitable for Corporate tax and finance executives, directors, managers and staff, CPAs,  Enrolled Agents, accountants, attorneys and business/financial advisors who work with and advise individuals or businesses that use or invest in crypto

BENEFITS

  • Discuss what constitutes digital assets

  • Determine the differences between cryptocurrency and NFTs

  • Be able to identify the IRS forms needed to report digital asset contributions

  • Understand how to properly establish the value of the contribution

  • Know the differences in required substantiation based on the amount of the contribution

  • Understand the latest rulings by the Treasury Department and courts on these contributions

HIGHLIGHTS

  • Differences between cryptocurrency and non-fungible tokens (NFTs)

  • IRS Notice 2014-12

  • Tax implications of contributing digital assets

  • Gift tax rules for donating, gifting or bequeathing cryptocurrency and NFTs

  • Substantiating charitable contributions of digital assets

  • Traps for the unwary

COURSE LEVEL

Basic

PREREQUISITES

None

ADVANCE PREPARATION

None

INSTRUCTOR

Allison McLeod

Allison M. McLeod, CPA, LL.M., J.D.

Allison M. (Yee) McLeod, LL.M., JD, CPA, is currently a Senior Lecturer at the University of North Texas in Denton, Texas. She received Bachelor of Business Administration and Juris Doctor degrees from Baylor University, and a Master of Legal Letters (LL.M.) degree specializing in Taxation from the Southern Methodist University School of Law. Professor McLeod has also studied British and Art History at the University of Sussex, England.

Prior to joining the UNT faculty in 2010, Professor McLeod held the position of Director of Tax Planning and IRS Audits for Lehigh Hanson North America, a major manufacturer of cement, aggregates and other building materials. Her practice included both federal and international tax planning. Professor McLeod also spent thirteen years specializing in Tax Planning with the JCPenney Corporation, Inc., and two years with Deloitte & Touche in Dallas.

Professor McLeod teaches at the university level graduate classes on Ethics, Tax Research and Corporate Income Tax. She also lectures in Financial Accounting and Individual Taxation on an undergraduate level. She has taught at the UNT College of Law as adjunct faculty and works part-time at the law firm of Grable Martin Fulton, PLLC. Since 2011, Professor McLeod has been honored to present live and on-line ethics CPE classes to CPAs across the nation. She also serves as an expert witness in accounting malpractice cases and maintains a small private practice serving individuals and small businesses. Professor McLeod has also taught at the University of North Texas College of Law as adjunct faculty. She is currently serving on the Professional Ethics Committee of the Texas Society of CPAs.

Professor McLeod is licensed to practice law by the State Bar of Texas since 1992 and has been a Certified Public Accountant since 1993.

PRICING

$79.00 - Member

$109.00 - Nonmember

Register Today


Note: Online pre-registration will close on May 19 at 9:30 AM.

ADDITIONAL OPTIONS

Remind me to register

Print a registration form

COURSE DEVELOPER

ACPEN