🧾 How to File Your Crypto Taxes in the USA (2025 Edition)

By Jason Miller – Crypto Writer 10.expert 🧠 Covering Bitcoin, altcoins, blockchain & Web3.

If you made trades, received rewards, or sold crypto in 2024, it’s time to face the music — you may owe taxes. But don’t worry — this guide will help you file your U.S. crypto taxes correctly, efficiently, and with less stress.

🇺🇸 1. Does the IRS Tax Crypto?

Yes. The IRS considers cryptocurrency property, not currency. That means any time you sell, trade, or even spend crypto, you’re triggering a taxable event — even if it was just a $10 coffee using BTC.

💸 2. What Is Taxable?

Here are the main crypto activities that are taxable in the USA:

• Selling crypto for USD or other fiat
• Swapping one coin for another (e.g., ETH → SOL)
• Spending crypto on goods or services
• Receiving crypto from mining, staking, airdrops, or forks
• Getting paid in crypto (freelancing, salary)

Each of these actions creates capital gains or income, and the IRS wants a report.

📥 3. What’s Not Taxable?

You don’t need to report:

• Buying crypto with fiat (e.g., USD)
• Transferring crypto between your own wallets
• Holding (HODLing) crypto
• Receiving gifts under $17,000 (limit as of 2025)

📊 4. Capital Gains vs. Income

Holding crypto for over 12 months gets you a lower tax rate (long-term gains). Less = short-term rates (same as your income bracket).

🧠 5. What Info Do You Need?

To file accurately, gather:

• List of all trades (buy/sell dates, amounts, USD value)
• Cost basis (how much you paid)
• Holding periods
• Wallet addresses (for tracking transfers)
• Income records from airdrops/staking/mining
• Exchange API reports (Coinbase, Binance US, etc.)

🛠 6. Use Crypto Tax Tools (Save Your Sanity)

Manually tracking trades = pain 😫
Use these IRS-compliant crypto tax tools:

• Koinly – user-friendly, supports U.S. forms
• CoinTracker – auto-sync with exchanges
• ZenLedger – ideal for advanced users
• Accointing – clean interface + DeFi tracking
• CryptoTaxCalculator – includes NFTs, DEXs

They generate Form 8949, Schedule D, and full reports for TurboTax or your accountant.

🧾 7. Forms You’ll Need

• Form 8949 – Lists capital gains/losses
• Schedule D – Summary of gains/losses
• Schedule 1 – For crypto income
• Form 1040 – Standard tax return (includes “Do you own crypto?” question)

All these forms are supported by tax tools — or can be filed manually.

🧯 8. Lost Access to Wallets or Coins?

You may be able to claim a capital loss if your crypto is unrecoverable (due to scams, rug pulls, or lost keys). But you’ll need proof and possibly documentation from a CPA.

⏳ 9. Deadline & Late Fees

The U.S. tax deadline is usually April 15th.
Filing late can result in:

• Penalties
• Interest charges
• Possible audit

You can file an extension, but any tax due still must be paid on time.

📎 10. Can You Pay Taxes with Crypto?

As of 2025, the IRS doesn’t accept crypto payments directly — but you can:

• Sell crypto to pay taxes
• Use services like BitPay (if state/local agency accepts it)

💡 11. Pro Tips

• 🔁 Import data monthly, not just in April
• 🔍 Double-check exchange conversions
• 📉 Use losses to offset gains (tax-loss harvesting)
• 📤 Report honestly — blockchain is traceable
• 🧾 Keep reports for at least 3–7 years

✅ Final Thoughts

Crypto taxes don’t have to be scary. With the right tools and understanding, you can file like a pro, stay compliant, and even save money through smart tracking.

So don’t wait until April — start organizing now and keep 10.Expert bookmarked for more pro tips.