Crypto Tax is the Responsibility of Each Trader.  Taxes are Different for Each Person and their Specific Situation.  Taxes Will Vary for Each State as Well.

Form 1099-DA:  Starting with Transactions On, or After 1/1/25, Digital Asset Brokers are Only Mandated to Report the Gross Proceeds.  They are Generally Not Required to Report Your Original Cost Basis Until the 2026 Tax Year.

The IRS Continues to Treat Cryptocurrency as Property for Tax Purposes, Not Currency.  This Means General Capital Gains and Income Tax Rules Apply.

Taxable Event:  (1) Selling Crypto for US Dollars / Fiat Currency, (2) Trading One Crypto for Another, (3) Buy Goods or Services Using Crypto, and (4) Receiving Crypto as Wages.

Non-Taxable Event:  (1) Buying Crypto, (2) Holding Crypto in a Wallet, (3) Transferring Crypto Between Wallets or Accounts you Own, and (4) Gifting Crypto (Limited to $19K in 2025 and 2026).

Tax Burden Reduction Strategies to Consider:  (1) Withdrawal to Separate Wallet and Hold at Least 1 Year to Pay Long-Term vs. Short-Term Capital Gains, (2) Donate to a Qualified Charitable Organization (501(c)(3) Non-Profit, (3) Utilize a Tax -Advantage Retirement Account (Full Market Value if Crypto is Held Over a Year), and (4) Take a Crypto-Backed Loan as the Interest on The Loan is Far Lower than Taxes.

Crypto Tracking Software Options:  (1) CoinLedger [Click to Join], (2) Koinly [Click to Join], (3) CoinTracker [Click to Join]

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