Cryptocurrency Winter in Puerto Rico - Act 60 Reset!

Did you move to Puerto Rico last year? If so, make sure your 2022 tax returns are prepared correctly, or else it could affect your future gain exemptions. In this episode of Taking Shelter, Peter Palsen discusses five questions you should consider when preparing your 2022 tax return.
Chapters:
00:00 - Intro
2:00 - How does U.S. tax law treat gain on the sale of previously owned assets?
3:05 - Marketable Security
5:49 - 3 Points to Make
6:30 - Is my cryptocurrency position a “marketable security”?
8:16 - How do I determine if I am a bonafide resident of Puerto Rico for 2022?
10:32 - If I am a bonafide resident, how do I determine the start of my “possession holding period” start?
12:29 - What questions should I ask my tax preparer for the 2022 tax year?
🌎Website - askfrost.com
💼LinkedIn - / frost-&-associates
📘Facebook - / frosttaxlaw
🐤Twitter - / irstaxissues
Resources:
Taxing Crypto - altmanassociates.net/cryptocu...
Puerto Rican Tax Incentives - What You Should Know - • Puerto Rican Tax Incen...
Frost Law is comprised of skilled tax attorneys, business attorneys, litigation attorneys, estates attorneys, Certified Public Accountants, Certified Financial Planners, and other tax professionals. We have been serving clients across the country and abroad.
We have office locations on the East Coast in Maryland, Virginia, Washington, D.C., Pennsylvania, and Florida and serve clients internationally.
DISCLAIMER: This video is not legal, tax, or financial advice. Talk with a professional about your situation before making any legal or financial decisions. These videos also do not create attorney-client privilege.