Why crypto records matter
The IRS treats digital assets as property for U.S. tax purposes. It also says income from digital assets is taxable, and taxpayers may need to report transactions even when the activity feels small.
Sales, swaps, payments, staking rewards, mining income, airdrops, and transfer fees can all create records that need review. Waiting until filing season can make the details hard to rebuild.
What to gather before filing
Gather wallet addresses, exchange reports, purchase dates, sale dates, units, fair market value in U.S. dollars, basis, fees, staking or mining income, and any forms from brokers or platforms.
Business owners should also separate personal investing from crypto received for goods or services, because business-context payments may be treated differently from personal investment activity.
How RoboTax can help users prepare
RoboTax can help identify connected-account deposits, platform transfers, and payment patterns that may point to digital asset records needing review. A tax professional should still confirm the reporting forms and tax treatment.
Frequently asked questions
Do I need records if I only bought crypto?
Buying and holding may be different from selling or exchanging, but records still matter because basis, dates, and wallet history may matter later.
What if I was paid in crypto for work?
Crypto received for services can create income records. Save the date, fair market value in U.S. dollars, payer details, and any later sale or exchange records.
Sources and further reading
These resources are included for educational context. RoboTax is not tax, legal, or financial advice, and this content should be reviewed with a qualified tax professional before being used for filing decisions.