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Tax Glossary
What Is “Distributable net income”?
Distributable net income (DNI) is a tax metric used to determine the maximum amount of income from a trust or...
Tax Glossary
What Is a “Digital Asset”?
A digital asset is any digital representation of value that is recorded on a cryptographically secured distributed ledger, such as...
Tax Glossary
What Is the “Digital Asset Question”?
The digital asset question is a mandatory compliance disclosure box located at the absolute top of page one on U.S....
Tax Glossary
What Is “Destination-Based Sales Tax”?
Destination-based sales tax is a tax sourcing method where the final sales tax rate is determined entirely by the location...
Tax Glossary
What Is “Decentralized Finance”?
Decentralized Finance, commonly abbreviated as DeFi, is an umbrella term for a peer-to-peer financial ecosystem that allows users to trade,...
Tax Glossary
What Is Deceased Spousal Unused Exclusion (DSUE)?
The Deceased Spousal Unused Exclusion (DSUE) is the remaining portion of a deceased spouse’s federal estate tax exemption that can...
Tax Glossary
What Is “Cryptocurrency”?
Cryptocurrency is a decentralized digital or virtual currency that is secured by cryptography and recorded on a cryptographically verified distributed...
Tax Glossary
What Is a “Crypto Wash Sale”?
A crypto wash sale refers to the transaction dynamic where an investor sells a cryptocurrency token at a financial loss...
Tax Glossary
What Is a “Crypto Transaction”?
A crypto transaction is any operational movement, exchange, or receipt of digital currency recorded on a secure blockchain ledger. For...
Tax Glossary
What Is “Crypto Staking Income”?
Crypto staking income is the taxable revenue generated when an investor locks up a portion of their cryptocurrency holdings to...