Course Description

This course provides an in-depth analysis of the IRS Rev Proc 2024-28 and its implications for digital asset accounting. Participants will learn how to transition from universal inventory to wallet-level basis tracking and navigate key compliance requirements such as specific lot identification (Spec ID). Through practical examples, this course demonstrates how Bitwave’s new features streamline workflows and enable compliance with evolving tax regulations. Designed for finance professionals managing digital assets, this course offers actionable insights into regulatory compliance, strategic allocation, and reporting optimization.

This course fulfills CPE objectives.

After this course, learners should be able to:

  • Explain the impact of IRS Rev Proc 2024-28 on digital asset accounting, including wallet-level basis tracking and Spec ID requirements.

  • Identify the steps required to transition from universal inventory to wallet-level inventory, including the reallocation of unused cost basis lots.

  • Evaluate how Bitwave's new features support compliance with IRS rules and enhance digital asset management workflows.

  • Discuss strategies for optimizing realized gains and losses through specific lot identification and strategic allocation.

  • Navigate the deadlines and procedural requirements for complying with updated IRS regulations on digital assets.

Course curriculum

    1. Module 1: Transition from Universal to Wallet-Level Inventory

    2. CPE Review Questions

    3. Module 2: Safe Harbor Provisions, Reallocation of Lots, and Compliance Deadlines.

    4. CPE Review Questions

    5. Module 3: Spec ID Requirements, Strategic Allocation Opportunities, and Bitwave Implementation.

    6. CPE Review Questions

    7. CPE Qualified Assessment - Pass this assessment to earn CPE!

About this course

  • 7 lessons
  • 1 hour of video content
  • 1.0 CPE Credits (Specialized Knowledge)
  • No prerequisites

Other CPE Info

  • Program Level

    Intermediate

  • Advance Preparation

    A basic understanding of digital assets

  • Delivery

    QAS Self Study

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BitAlpha, Inc. (Sponsor ID #148962) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website:www.nasbaregistry.org.