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Tax Glossary
What Is a “Crypto Exchange”?
A crypto exchange is a digital platform or marketplace that allows users to trade conventional fiat currencies (like the U.S....
Tax Glossary
What Is a “Crypto Donation”?
A crypto donation is the voluntary transfer of cryptocurrency or digital assets to a qualified tax-exempt organization, such as a...
Tax Glossary
What Is a “Crypto Capital Loss”?
A crypto capital loss is the financial loss realized whenever you dispose of a cryptocurrency or digital asset for less...
Tax Glossary
What Is a “Crypto Capital Gain”?
A crypto capital gain is the financial profit realized whenever you dispose of a cryptocurrency or digital asset for more...
Tax Glossary
What Is “Crop Insurance Proceeds”?
Crop insurance proceeds are the financial payouts or indemnities disbursed to agricultural producers by private insurance companies or federal agencies...
Tax Glossary
What Is the “Credit for Taxes Paid to Another State”?
The credit for taxes paid to another state is a non-refundable state-level tax credit designed to protect your income from...
Tax Glossary
What Is a “Coverdell ESA”?
A Coverdell Education Savings Account (ESA) is a tax-advantaged trust or custodial account established under U.S. tax law to help...
Tax Glossary
What Is “Cost Basis in Crypto”?
Cost basis in crypto is the total original financial value of a cryptocurrency asset for tax purposes, typically representing the...
Tax Glossary
What Is a Controlled Foreign Corporation?
A Controlled Foreign Corporation (CFC) is a company incorporated outside the United States that is more than 50% owned or...
Tax Glossary
What Is a “Composite Return”?
A composite return is a collective state income tax return filed by a pass-through entity—such as a partnership or S...