Crypto tax in United States

US federal tax treats crypto as property, so every disposal is a capital gain or loss event — and from 2025 the basis has to be tracked wallet by wallet rather than across your whole portfolio.

Last verified 13 September 2026 · written by the DexLadder team

General information, not tax advice. Rules change and individual circumstances differ. Verify with a qualified adviser in the United States before filing. Last verified on the date shown above.

How the regime works

Point	Position
Character	Convertible virtual currency is treated as property, not currency — IRS Notice 2014-21. Disposals produce capital gains or losses.
Holding period	Assets held more than one year qualify for long-term capital gains rates; one year or less is short-term and taxed at ordinary income rates.
Basis tracking	Revenue Procedure 2024-28 requires basis to be tracked on a wallet-by-wallet (account-by-account) basis rather than universally, with a transitional safe harbour for allocating unused basis held at the start of 2025.
Broker reporting	Custodial brokers report gross proceeds on Form 1099-DA for transactions from 2025, with basis reporting phasing in afterwards.
Income events	Staking rewards, mining income, airdrops and payment for services are ordinary income at fair market value when received, and that value becomes the basis for a later disposal.
Investment income tax	Net investment income tax of 3.8% under IRC §1411 can apply on top of capital gains for higher-income taxpayers.

The part that catches people out

The wallet-by-wallet rule is the change that breaks old spreadsheets. A universal average-cost view of your holdings is no longer the right model, and moving assets between your own wallets does not create a taxable event but does move the basis with the lot.

Records a filing needs

Date acquired, date disposed, proceeds and cost basis for every lot
Which wallet or account each lot sits in, because basis is now tracked per account
Fair market value in USD at the moment of each income event
Fees paid, and whether they were added to basis or netted against proceeds
1099-DA forms received, reconciled against your own records

Computing it without uploading your history anywhere

DexLadder's tax ledger models the United States and computes the position from your own ledger entirely on your device. There is no upload, no account and no third party receiving your transaction history — which matters more here than anywhere else on the site, because this is the data set that reveals the most about you.

Other jurisdictions

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Terms used on this page

Market capitalisation Stablecoin Staking Wallet DEX

Nothing above is advice. It is a summary of published rules, with each point tied to the statute or official guidance that states it.

Questions people actually ask

Is moving crypto between my own wallets taxable?

No. A transfer between wallets you control is not a disposal, but you must carry the basis and acquisition date with the lot — which is exactly what per-wallet tracking requires.

Do I owe tax if I only swapped one token for another?

Yes. Exchanging one crypto asset for another is a disposal of the first asset, and the gain or loss is measured in US dollars at the time of the swap.

What makes a gain long-term?

A holding period of more than one year from the day after acquisition to the day of disposal.

Open the tax ledger — no account, nothing to install