US Crypto Tax Guide

Crypto tax in the US,
filed the way the IRS wants it.

The IRS treats crypto as property. Every disposal goes on Form 8949 and carries to Schedule D. Staking, mining and rewards are ordinary income on Schedule 1. From 2025 onward, brokers report your activity on Form 1099-DA, and the IRS is matching it against what you file. Here is how US crypto tax actually works, and how we file it.

The basics

How the IRS taxes crypto

Two categories, two sets of forms. Capital gains on disposals, ordinary income on what you earn. The reconciliation behind those forms is where most returns go wrong.

8949

Form 8949 & Schedule D

Every sale, swap and spend is a disposal. Each lot is reported on Form 8949 and totalled on Schedule D, short-term and long-term split out.

Sch 1

Ordinary income

Staking, mining, airdrops and crypto pay are ordinary income at fair market value on receipt, reported on Schedule 1 or Schedule C.

DA

Form 1099-DA

Brokers now report your proceeds to the IRS on 1099-DA. If your return does not match, expect a CP2000 notice.

Forms & platforms

Where to find your tax documents

Every platform reports differently, and none of them reconcile across the others. Start with the guide for yours.

Crypto.com tax forms

Where to find your Crypto.com statements and 1099s, and what each one covers.

Venmo crypto documents

What Venmo issues, where to find it, and how to report Venmo crypto correctly.

Reporting staking rewards

Ordinary income at receipt, then capital gains on disposal. The US and UK method.

1099-DA explained

What the new broker form covers and how it interacts with your filing.

Wealthsimple crypto

What the platform reports, which forms you get, and what it leaves to you.

Crypto tax software

Koinly, CoinLedger and CoinTracker compared, and where each one gets it wrong.

File your US crypto tax with a specialist.

We reconcile your exchanges and wallets, classify every disposal on Form 8949, and file a return that matches your 1099-DA. Book a free 30-minute review to get started.

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