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January 12, 2019
Does EVP Office Price Cryptocurrency?

As of version 8.3.0, EstateVal, GiftVal, and CostBasis all price over a dozen cryptocurrencies, in full compliance with IRS guidelines.

Because cryptocurrencies are not traded on traditional stock exchanges, their "ticker symbols" can and sometimes do overlap with those of normal securities. To avoid this overlap, all the EVP Office applications require that the crypto ticker be prefixed with a hash symbol. For instance, Bitcoin is usually referred to as BTC and would be entered into EstateVal as #BTC.

EstateVal, GiftVal, and CostBasis support valuing the follow cryptocurrencies:

Cryptocurrencies Priced by EVP Office
Name Identifier Pricing Start
Bitcoin #BTC June 20, 2010
Litecoin #LTC January 1, 2015
Ethereum #ETH March 15, 2016
Ethereum Classic #ETC July 28, 2016
Zcash #ZEC November 4, 2016
Monero #XMR January 9, 2017
XRP #XRP February 27, 2017
Dash #DASH March 14, 2017
EOS #EOS August 1, 2017
Bitcoin Cash #BCH August 3, 2017
Qtum #QTUM October 10, 2017
0x #ZRX January 19, 2018
Stellar #XLM February 19, 2018

Though the IRS has declared that cryptocurrencies are not traditional fiat currencies for tax purposes, EVP Systems provides pricing at a London 4:00pm spot rate, as is accepted practice in the cryptocurrency community. This is in accordance with IRS Notice 2014-21, which requires that cryptocurrency pricing must be determined in a "reasonable manner that is consistently applied."

EVP Systems gets its cryptocurrency valuations from CoinAPI, using their exchange-rate methodology. In the event that a London 4:00pm spot-rate does not exists because of light trading, EVP Systems will use the simple average of the last price from crypto-exchanges it deems reliable. As of January 2019, those exchanges consist of: Bitstamp, Bitfinex, Kraken, Coinbase, and Gemini. Historical pricing of Bitcoin may include prices from Mt. Gox prior to its closure.