Crypto Exchange Zaif Hacked In $60 Million Bitcoin Theft

Crypto and Taxes 2018

What You Need to Know

Watch your wallets

If 2017 was the year crypto users got rich, in 2018, the taxman is coming to collect.

In our Crypto & Taxes 2018 opinion series, CoinDesk dives deep into the implications for buyers, speculators and HODLers in the U.S., breaking down the issues and trends that will be top of mind as we head toward April 15.

From beginner's guides to think pieces, our series aims to offer a broad overview, one filled with actionable insights and food for thought.

The views expressed are solely those of the authors.



Curated by

Marc Hochstein

Managing Editor, CoinDesk

Kirk Phillips

Author, The Ultimate Bitcoin Business Series

Lisa Zarlenga

Tax Group Co-Chair, Steptoe & Johnson

Like elsewhere in crypto taxation, the rules for funds are far from straightforward, and discrepancies may lead to non-intuitive outcomes.

Joe Colangelo

Taxing All Bitcoin Buying Will Backfire for the IRS

The IRS' 2014 tax guidance may encourage cryptocurrency users to use unregulated foreign exchanges and use privacy coins like monero or zcash.

Omri Marian

Does the IRS Get a Cut of Your Bitcoin Cash?

The tax treatment of hard forks in the U.S. is uncertain and the IRS should issue guidance addressing such issues, says a legal expert.

Busayo Ogunsanya

Everything You Were Afraid to Ask About Crypto Taxes

There's a lot of information to process, but ignoring it can be hazardous. The IRS is going to come after investors who are not reporting their gains.

Jeremy Drane

The Maddening Task of Calculating Taxes on Crypto

Calculating tax exposure is always a data-heavy business process. With regular assets, this process is simple. In cryptocurrency, it's anything but.

James Markwood

Do You Owe the IRS for Crypto-to-Crypto Trades?

For cryptocurrency traders, the ability to use like-kind exchange rules to avoid U.S. tax on trades is a bit of a “good news/bad news” story.

Robert Green

How Active Crypto Traders Can Save on US Taxes

Active crypto traders can qualify for trader tax status (TTS) to deduct business and home-office expenses. And there might be an additional benefit.

David Deputy

Don't Forget the 'Other' Cryptocurrency Tax

If cryptocurrency gains acceptance as a means of exchange, it’s sure to raise the ire of governments hungry for revenue from sales taxes.

Annette Nellen

What the Taxman Can Learn from Crypto

Cryptocurrency reminds us that tax and other rules need to be fluid, as inaction or inappropriate responses can halt or slow technological advances.

Perianne Boring

US Crypto Tax Policy Isn't Just Crazy, It's Cruel

There is something extraordinarily cruel, crazy even, in the IRS’s approach of treating virtual currencies as property for tax purposes.

Philip Karter

How to Mount a Tax Defense for Unreported Crypto Income

Most individuals with unreported cryptocurrency income have options available to mitigate and defend against civil penalties and criminal prosecution.

Sonya Baumstein

5 Steps to Stress-Free Crypto Tax Accounting

The prudent individual or business must keep up with regulation and develop a process to organize data related to trading cryptocurrency. Here's how.

Stevie Conlon

Bitcoin Forks and Livestock Law? Tax Day 2018 Is a Different Animal

U.S. income tax treatment of forks is unclear. A conservative approach would be to treat the receipt of new cryptocurrency as taxable ordinary income.

Mario Costanz

Making the Most of Crypto Mining Tax Breaks

From depreciation of rig equipment to a second reporting and tax requirement after mined coins are sold, tax rules for miners can get complicated.

Steve Latham

What You Don't Know About Crypto Taxes Can Hurt You

There has been no new cryptocurrency tax guidance from the IRS since 2014. Consequently, few investors fully understand how to treat 2017 gains.

Sujha Sundararajan

Crypto Tax Support Is Coming Slowly to India

A partnership finds two India-based startups seeking to provide tools to crypto users who may need to report gains and losses on their 2018 taxes.

Chandan Lodha

A Hobbyist Crypto Trader's Life in Tax Hell

The spreadsheet got more and more complicated, until one day it took two minutes to load.

Tanzeel Akhtar

A Bitcoin Rally After Tax Day? Don't Bet the Farm On It

There are several reasons to discount the contribution of tax-related selling to the Q1 bear market – and thus the chances of a post-April 17 rebound.

Mark Gladden

Crypto Tax Dodgers Are Tempting Fate

The ways governments tax cryptocurrency users may be unjust and due for reform, but simply ignoring the law for this reason is a dicey proposition. 

Kirk Phillips

What If You Can't Pay Taxes on Your Crypto Gains?

Crypto holders willing to take a risk can file an extension, pay their taxes in installments with penalties and interest, and possibly come out ahead.

Lisa Zarlenga

What ICO Issuers and Investors Need to Know About Taxes

There is little guidance from the IRS on how to treat a token offering or SAFT for tax purposes. Determining how to do so is a fact-intensive process.

Zac McClure

Why the IRS Should Treat Crypto as a New Asset Class

Tax pros in the cryptocurrency space are applying a hodgepodge of rules that historically have been applied to stocks, bonds and various other assets.