Crypto Tax Documents: Every Form You Need to File Your Taxes
Filing cryptocurrency taxes can require several different documents, depending on how you use crypto. Whether you're simply buying and selling Bitcoin, earning staking rewards, trading DeFi tokens, or operating a cryptocurrency business, understanding which tax forms you need is essential for filing correctly.
The good news is that most cryptocurrency investors only need a handful of core tax documents. Other forms apply only to specific types of income, business activities, or financial situations.
In this guide, we'll cover every major U.S. crypto tax document, starting with the forms most investors need and then breaking down the additional documents required for different types of cryptocurrency activity.
The Four Most Important Crypto Tax Documents
For most individual cryptocurrency investors, the following four documents are the most relevant:
Document | What It's Used For | Who Needs It |
|---|---|---|
Form 1099-DA | Reports cryptocurrency transactions from exchanges to the IRS | Investors whose brokers issue the form |
Form 8949 | Reports individual crypto capital gains and losses | Most investors who sell or trade crypto |
Schedule 1 | Reports ordinary cryptocurrency income | Investors earning staking rewards, airdrops, or other nonbusiness income |
Schedule D | Summarizes capital gains and losses | Most investors reporting crypto capital gains or losses |
These forms serve different purposes, and you may not need all four. For example, an investor who only purchased Bitcoin and held it throughout the year generally wouldn't need to report a capital gain or loss from that activity.
Let's look at each document in detail.
1. Form 1099-DA: Digital Asset Proceeds From Broker Transactions
Form 1099-DA is the IRS's dedicated tax reporting form for cryptocurrency and other digital asset transactions.
Beginning with the 2025 tax year, qualifying brokers and cryptocurrency exchanges must report certain digital asset dispositions to the IRS.
Form 1099-DA replaces some of the older reporting methods previously used by cryptocurrency platforms, including certain uses of Form 1099-B.
What does Form 1099-DA report?
Depending on the transaction and reporting year, the form can include:
The cryptocurrency sold or exchanged.
The date of the transaction.
The quantity of cryptocurrency disposed of.
Gross proceeds from the transaction.
Cost basis information, when applicable.
For the 2025 tax year, brokers generally report proceeds without being required to report cost basis. Beginning with applicable transactions in 2026, cost basis reporting requirements expand for certain covered assets.
How do you use Form 1099-DA?
When you receive Form 1099-DA, compare it against the cryptocurrency transactions in your tax software.
Your tax calculations should account for transactions reported by your exchange and correctly reflect their proceeds and cost basis.
An important part of this process is ensuring that broker-reported transactions are categorized correctly on Form 8949.
Form 8949 reporting status | Short-term box | Long-term box |
|---|---|---|
Proceeds and basis reported to the IRS | G | J |
Proceeds reported, basis not reported | H | K |
Transactions not reported on an applicable broker statement | I | L |
For example, if Coinbase reported a Bitcoin sale on your Form 1099-DA without reporting cost basis, that transaction generally belongs in Box H or K, depending on its holding period.
If your cryptocurrency tax software incorrectly categorizes it under Box I or L, your return may not accurately identify the transaction as previously reported to the IRS.
When is it necessary?
You should use Form 1099-DA whenever a broker issues one to you.
However, you must report taxable cryptocurrency transactions even if you never receive the form.
If you're ready to get started, check out the best crypto tax software on earth!
2. Form 8949: Cryptocurrency Capital Gains and Losses
Form 8949 is the primary tax form used to report cryptocurrency sales, trades, and other capital asset dispositions.
If you've sold Bitcoin, exchanged Ethereum for another token, or traded cryptocurrency on a decentralized exchange, you'll generally need to account for those transactions on Form 8949.
The form reports details including:
The asset sold or exchanged.
The acquisition date.
The disposal date.
Sales proceeds.
Cost basis.
Adjustments.
Capital gain or loss.
How do you use Form 8949?
For every taxable cryptocurrency disposal, calculate your capital gain or loss by subtracting your adjusted cost basis from your proceeds.
For example:
You purchase 1 ETH for $2,000.
You later sell it for $3,000.
Your capital gain is $1,000, assuming no additional adjustments or fees.
Form 8949 also distinguishes between short-term and long-term capital gains.
Short-term transactions generally involve assets held for one year or less, while long-term transactions involve assets held for more than one year.
When preparing Form 8949, make sure your transactions are assigned to the appropriate reporting boxes, particularly if you received Form 1099-DA.
When is it necessary?
Form 8949 is generally required when reporting cryptocurrency capital asset dispositions, although certain transactions can be summarized directly on Schedule D under IRS rules.
Crypto tax software like Awaken can calculate your capital gains and losses and generate the information needed for Form 8949 automatically.
3. Schedule 1: Cryptocurrency Income
Schedule 1 is commonly used to report ordinary cryptocurrency income that isn't earned through a trade or business.
Not every taxable cryptocurrency transaction involves a capital gain.
You may receive cryptocurrency as income, which is generally taxable based on its fair market value when it becomes includible in income.
Common examples include:
Staking rewards.
Cryptocurrency mining rewards earned outside a business.
Taxable airdrops.
Certain referral and promotional rewards.
Other nonbusiness cryptocurrency income.
How do you use Schedule 1?
Calculate the total fair market value in U.S. dollars of your taxable cryptocurrency income.
For example, if you received $1,500 worth of staking rewards during the year, you would generally report $1,500 as ordinary income.
The value included in income generally establishes your cost basis in those tokens.
If you later sell the tokens, any additional gain or loss is generally reported separately as a capital transaction.
When is it necessary?
Schedule 1 is typically relevant if you've received taxable cryptocurrency income outside a business.
If your cryptocurrency income comes from self-employment or business operations, Schedule C may be more appropriate.
4. Schedule D: Capital Gains and Losses Summary
Schedule D summarizes your capital gains and losses, including those reported on Form 8949.
While Form 8949 details individual transactions, Schedule D consolidates those results into an overall capital gains and losses summary.
It includes:
Total short-term capital gains and losses.
Total long-term capital gains and losses.
Capital loss carryovers from previous years.
Other applicable capital gain and loss adjustments.
How do you use Schedule D?
After completing Form 8949, transfer the relevant totals to Schedule D.
Schedule D combines your cryptocurrency gains and losses with other applicable capital transactions, such as stock sales.
It provides a useful summary of your annual capital gains activity and helps determine the amounts that flow into your individual tax return.
You should also retain copies for your records, particularly if you have capital losses that may carry forward to future years.
When is it necessary?
Schedule D is generally required when reporting capital gains or losses on an individual federal tax return.
Although it's a useful summary document for your records, Schedule D is also an official tax form that generally must be filed with your return when applicable.
Documents for Cryptocurrency Income Earners
If you've earned cryptocurrency through staking, mining, rewards, or other activities, you may need additional documents beyond Schedule 1.
5. Form 1099-MISC: Miscellaneous Cryptocurrency Income
Some cryptocurrency exchanges issue Form 1099-MISC to report certain rewards or miscellaneous payments.
For example, you might receive Form 1099-MISC for eligible staking rewards or promotional income.
How to use it: Compare the reported income against your cryptocurrency transaction records and include taxable amounts on the appropriate part of your tax return, commonly Schedule 1 for nonbusiness income.
When necessary: When a platform issues the form to you. Even without a form, taxable cryptocurrency income must still be reported.
6. Form 1099-INT: Interest Income
Certain cryptocurrency-related financial products may generate income classified as interest.
When applicable, the payer may issue Form 1099-INT.
How to use it: Report the taxable interest on your return and retain records of any cryptocurrency payments received.
When necessary: When you receive qualifying interest income. Not every DeFi yield or staking reward is legally classified as interest.
7. Staking, Mining, and Airdrop Transaction Records
For cryptocurrency income that isn't reported on an official tax form, your transaction records become particularly important.
Keep documentation showing:
The type and quantity of cryptocurrency received.
The date you received it.
Its fair market value in U.S. dollars when taxable.
The wallet or exchange where it was received.
How to use them: Import these records into Awaken to calculate taxable income and establish cost basis for any subsequent sales.
When necessary: Whenever you receive taxable cryptocurrency income, including when no exchange-issued tax form is available.
Documents for Freelancers, Contractors, and Self-Employed Workers
If you're paid in cryptocurrency for providing services, the tax treatment differs from simply investing in crypto.
Cryptocurrency received as payment for work generally constitutes taxable compensation, regardless of whether you immediately convert it into U.S. dollars.
8. Form 1099-NEC: Nonemployee Compensation
Form 1099-NEC is commonly used to report payments made to independent contractors.
If a business pays you in Bitcoin, Ethereum, USDC, or another cryptocurrency, it may be required to report those payments on Form 1099-NEC.
How to use it: Report the value of your cryptocurrency compensation as business income, typically on Schedule C if you're a sole proprietor.
When necessary: When you're paid as an independent contractor and the payer is subject to Form 1099-NEC reporting requirements.
You must still report taxable compensation even when no 1099-NEC is issued.
9. Schedule C: Profit or Loss From Business
Schedule C is used by sole proprietors to report business income and expenses.
If you freelance, consult, develop software, or provide other services in exchange for cryptocurrency, your earnings may need to be reported on Schedule C.
How to use it: Report your cryptocurrency payments at their U.S. dollar value when received, along with other business revenue and eligible deductible expenses.
When necessary: When your cryptocurrency-related activity constitutes a sole proprietorship or qualifying self-employed business.
10. Schedule SE: Self-Employment Tax
Self-employed individuals may owe Social Security and Medicare taxes on their net business earnings.
Schedule SE calculates these self-employment taxes.
How to use it: Use your net business earnings, generally calculated using Schedule C, to determine your self-employment tax liability.
When necessary: When your net self-employment earnings meet the applicable filing requirements.
11. Form W-2: Cryptocurrency Paid as Employee Wages
If you're an employee receiving cryptocurrency as part of your compensation, your employer generally must include its taxable value in your wages.
This can include cryptocurrency salaries and bonuses.
How to use it: Include the wages reported on your W-2 when preparing Form 1040. Retain the cryptocurrency's value at receipt for future capital gains calculations.
When necessary: When you're an employee receiving wages, including compensation paid in cryptocurrency.
Documents for Cryptocurrency Businesses
Businesses that mine cryptocurrency, operate trading companies, provide crypto-related services, or hold digital assets through formal business entities may need additional documentation.
12. Form 1065: Partnership Tax Return
Partnerships generally use Form 1065 to report business income, losses, and other relevant tax information.
This can apply to cryptocurrency investment partnerships, mining businesses, or other crypto-related operations.
How to use it: Report partnership-level cryptocurrency transactions, business revenue, and expenses.
When necessary: When a partnership has a federal income tax filing obligation.
13. Form 1120: Corporate Income Tax Return
C corporations generally use Form 1120 to report taxable income, deductions, and other financial information.
How to use it: Include cryptocurrency-related revenue, gains, losses, and expenses in the corporation's tax reporting.
When necessary: When a C corporation has a federal filing obligation.
14. Form 1120-S: S Corporation Tax Return
S corporations use Form 1120-S to report their business income and other relevant tax items.
How to use it: Report the S corporation's cryptocurrency activity and calculate amounts passed through to shareholders.
When necessary: When your cryptocurrency business operates as an S corporation.
15. Schedule K-1: Pass-Through Income
Schedule K-1 reports an individual's share of income, deductions, gains, and losses from certain partnerships, S corporations, trusts, or estates.
How to use it: Use the information provided on your Schedule K-1 when preparing your personal tax return.
When necessary: When you receive a K-1 from an applicable pass-through entity.
16. Form 4562: Depreciation and Amortization
Cryptocurrency mining businesses often purchase expensive computers, ASIC miners, and other equipment.
Form 4562 is used to claim eligible depreciation and amortization deductions.
How to use it: Record equipment acquisition costs, purchase dates, placed-in-service dates, and business-use percentages.
When necessary: When your business claims depreciation, amortization, or certain related deductions and elections requiring the form.
17. Form 8995 or 8995-A: Qualified Business Income Deduction
Certain eligible pass-through business owners may qualify for the qualified business income deduction.
How to use it: Calculate the eligible business income and deduction under the applicable requirements.
When necessary: When claiming an eligible qualified business income deduction.
Documents for Active Traders and Crypto Derivatives
Most cryptocurrency trading is reported through the standard capital gains forms.
However, certain derivatives, regulated futures, and specialized financial contracts may have different reporting requirements.
18. Form 1099-B: Broker and Barter Exchange Transactions
Before the introduction of Form 1099-DA, some cryptocurrency platforms used Form 1099-B to report transactions.
It may still be relevant for certain crypto-related securities, derivatives, or historical filings.
How to use it: Reconcile the reported proceeds and cost basis with your tax calculations and report the transactions under the applicable rules.
When necessary: When your broker issues the form for reportable transactions.
19. Form 6781: Section 1256 Contracts and Straddles
Certain qualifying financial contracts are subject to special tax treatment.
For example, eligible Section 1256 contracts generally receive 60% long-term and 40% short-term capital gains treatment, regardless of how long they were held.
How to use it: Calculate gains and losses from qualifying contracts, including applicable year-end mark-to-market adjustments.
When necessary: When trading contracts that qualify under Section 1256 or engaging in other transactions covered by Form 6781.
Not all cryptocurrency futures, perpetuals, or options qualify.
20. Form 8960: Net Investment Income Tax
Certain higher-income cryptocurrency investors may owe an additional 3.8% net investment income tax on qualifying investment income.
How to use it: Calculate your eligible investment income and determine whether your income exceeds the applicable thresholds.
When necessary: When you meet the requirements for the net investment income tax.
Documents for Cryptocurrency Gifts, Donations, and Inheritance
Cryptocurrency gifts and donations may have different tax consequences from ordinary sales.
Maintaining accurate records is particularly important because cost basis can transfer between individuals or depend on estate valuation rules.
21. Form 709: Gift Tax Return
Giving cryptocurrency to another person generally isn't a taxable sale for the donor.
However, certain cryptocurrency gifts can trigger federal gift-tax reporting requirements.
How to use it: Document the gift's value, transfer date, recipient, and other necessary information.
When necessary: When a gift meets the applicable reporting conditions, such as certain gifts exceeding the annual exclusion.
22. Form 8283: Noncash Charitable Contributions
Donating cryptocurrency directly to a qualified charity may qualify for a charitable deduction.
Form 8283 is generally required for noncash charitable deductions exceeding $500.
How to use it: Report qualifying cryptocurrency donations and maintain the necessary acknowledgments and valuation documentation.
Cryptocurrency donations exceeding $5,000 generally require a qualified appraisal, subject to the applicable rules.
When necessary: When claiming qualifying noncash charitable deductions that meet the reporting threshold.
23. Schedule A: Itemized Deductions
Schedule A is used to claim itemized deductions, including qualifying charitable donations.
How to use it: Report eligible charitable contributions and other itemized deductions.
When necessary: When you choose to itemize deductions rather than take the standard deduction.
24. Gift and Inheritance Records
Although not an IRS tax form, documentation of gifted or inherited cryptocurrency is essential for calculating future gains and losses.
For gifts, relevant records may include the donor's original cost basis and holding period.
For inherited cryptocurrency, records may include the date-of-death valuation and other estate documentation.
When necessary: Whenever you receive cryptocurrency through a gift or inheritance.
Documents for Lost, Stolen, or Previously Unreported Crypto
Cryptocurrency theft, missing wallet access, and errors in previous tax returns may require additional documentation or amended filings.
25. Form 4684: Casualties and Thefts
Form 4684 may be relevant when a cryptocurrency loss qualifies under federal casualty or theft loss rules.
However, not every lost, stolen, or inaccessible cryptocurrency asset creates a deductible loss.
How to use it: Document the circumstances of the loss, relevant transactions, asset values, and recovery efforts. Determine whether the loss qualifies under the rules for the applicable tax year.
When necessary: When claiming a qualifying casualty or theft loss that belongs on Form 4684.
26. Form 1040-X: Amended Individual Income Tax Return
Form 1040-X is used to correct certain previously filed federal income tax returns.
If you discover unreported crypto gains, missing income, incorrect cost basis, or other material reporting errors, you may need to amend a previous return.
How to use it: Prepare corrected crypto tax reports and update the affected tax forms and schedules.
When necessary: When your previously filed individual tax return requires an amendment.
Documents for International Cryptocurrency Investors
U.S. taxpayers with cryptocurrency held through foreign financial accounts or entities may face additional reporting requirements.
These rules can be particularly complex because cryptocurrency ownership alone doesn't always trigger the same requirements as a traditional foreign financial account.
27. Form 8938: Statement of Specified Foreign Financial Assets
Form 8938 is used by certain U.S. taxpayers to report specified foreign financial assets exceeding applicable thresholds.
Some foreign accounts or investment structures involving cryptocurrency may be reportable, depending on their characteristics.
How to use it: Identify foreign financial assets and determine whether they meet the legal definition and reporting thresholds.
When necessary: When applicable foreign asset reporting requirements are satisfied.
28. FinCEN Form 114: FBAR
The FBAR is used to report certain foreign financial accounts.
Under FinCEN's existing guidance, an account holding only virtual currency generally isn't reportable solely because of that virtual currency.
However, other assets or features of a foreign financial account may create reporting obligations.
How to use it: Review your foreign accounts and determine whether their characteristics and aggregate values trigger FBAR requirements.
When necessary: When you have reportable foreign financial accounts meeting the applicable requirements.
29. Forms 3520 and 3520-A: Foreign Trusts and Certain Foreign Gifts
These forms are relevant to certain transactions involving foreign trusts and reportable foreign gifts.
They may apply when digital assets are held through particular international structures.
How to use them: Document the relevant foreign trust relationships or reportable transfers and prepare the required information.
When necessary: Only in specialized international tax situations meeting the applicable reporting requirements.
Other Important Crypto Tax Records
In addition to official IRS forms, accurate cryptocurrency tax reporting often depends on supporting documents that you don't ordinarily submit with your return.
These records help calculate capital gains, establish cost basis, reconcile exchange reporting, and substantiate your filings.
Exchange Transaction History
Download transaction histories from all centralized exchanges you've used.
These generally include purchases, sales, swaps, deposits, withdrawals, and fees.
When needed: Whenever you've traded or held cryptocurrency on an exchange and need records to calculate your taxes.
Wallet and Blockchain Transaction History
Self-custody wallet histories provide documentation of on-chain activity, including swaps, transfers, staking, and DeFi interactions.
When needed: Whenever your cryptocurrency activity extends beyond centralized exchanges.
Cost Basis Records
Cost basis records establish the original purchase price or other tax basis of cryptocurrency you own.
These are particularly important when you move assets between exchanges or sell cryptocurrency purchased in previous years.
When needed: Whenever calculating capital gains or losses.
DeFi and NFT Transaction Records
Transactions involving decentralized exchanges, liquidity pools, lending protocols, and NFTs may not appear on traditional exchange tax reports.
When needed: Whenever participating in DeFi, NFT trading, or other on-chain activities.
Prior-Year Tax Returns and Capital Loss Carryforwards
Previous tax returns may contain capital loss carryforwards that affect your current tax liability.
When needed: When carrying unused capital losses into future tax years or reviewing historical tax reporting.
Form 8949 Supporting Statements and Form 8453
Investors with a large number of transactions may use permitted summary-reporting procedures supported by detailed transaction statements.
Form 8453 may be needed when transmitting certain paper attachments associated with an electronically filed return.
When needed: When your filing method requires supporting statements or designated paper attachments.
How to Prepare Your Crypto Tax Documents With Awaken
You don't have to manually calculate thousands of cryptocurrency transactions to prepare your taxes.
Awaken Tax helps you import your transaction history, calculate capital gains and losses, and generate the tax reports you need.
Step 1: Connect Your Exchanges and Wallets
Connect your centralized exchange accounts, public wallet addresses, and other supported integrations.
Import historical transactions when necessary to establish cost basis.
Step 2: Review Your Transactions
Ensure your transactions are correctly classified, including transfers, sales, swaps, staking rewards, and other taxable activity.
Resolve missing cost basis information and any transactions requiring additional review.
Step 3: Reconcile Your Form 1099-DA
If you received Form 1099-DA from an exchange, reconcile it against your transaction records.
Verify that your Form 8949 correctly identifies broker-reported transactions and uses the appropriate reporting categories.
Step 4: Generate Your Crypto Tax Reports
Generate your capital gains and income reports using Awaken.
You can use these reports to complete Form 8949, Schedule D, Schedule 1, and other relevant parts of your return.
Step 5: File With Your Tax Software or Tax Professional
Import or provide the necessary tax reports to your tax preparation software or accountant.
Awaken handles cryptocurrency tax calculations and reporting, while your tax filing software or tax professional prepares the complete tax return and any additional forms your circumstances require.
Frequently Asked Questions About Crypto Tax Documents
What documents do I need to file crypto taxes?
Most cryptocurrency investors need their exchange and wallet transaction histories, Form 1099-DA if issued, Form 8949 for capital gains and losses, and Schedule D to summarize those gains and losses. Schedule 1 is generally relevant if you've received taxable nonbusiness cryptocurrency income.
Do I need Form 1099-DA to file my crypto taxes?
No. You must report taxable cryptocurrency transactions even if your exchange doesn't issue Form 1099-DA.
Do I need Form 8949 if I only bought cryptocurrency?
Generally, no. Purchasing cryptocurrency with U.S. dollars and holding it doesn't typically create a taxable capital gain or loss.
What crypto tax form do I need for staking rewards?
Taxable staking rewards earned outside a business are generally reported as ordinary income, often on Schedule 1. Some platforms may also issue Form 1099-MISC.
What crypto tax forms do freelancers need?
Freelancers paid in cryptocurrency may receive Form 1099-NEC and generally report qualifying self-employment income on Schedule C. Schedule SE may also be required.
What happens if my Form 1099-DA doesn't match my Form 8949?
A discrepancy may result from missing cost basis, incorrect proceeds, or transactions being categorized improperly.
Review your Form 1099-DA and reconcile its transactions with your cryptocurrency tax software before filing.
Do I need to submit my cryptocurrency transaction history to the IRS?
You generally don't need to submit your entire exchange or blockchain transaction history with your return. However, you must maintain sufficient records to support your reported income, gains, losses, and other tax items. Some filing methods require detailed supporting statements.
How long should I keep crypto tax documents?
The IRS generally recommends retaining records for at least three years, although longer periods apply in certain situations.
For cryptocurrency investments, it's often wise to retain acquisition and cost basis records until after the assets are sold and the relevant tax record retention period has expired.
Final Thoughts
Cryptocurrency taxes can involve numerous IRS forms, but most individual investors only need a few essential documents.
Form 1099-DA provides information reported by exchanges, Form 8949 documents capital gains and losses, Schedule 1 covers many types of ordinary crypto income, and Schedule D summarizes capital transactions.
Additional documents become relevant if you operate a business, receive cryptocurrency as compensation, trade specialized financial products, donate digital assets, or participate in other complex activities.
The key is maintaining complete transaction histories and preparing accurate cryptocurrency tax reports.
With Awaken Tax, you can consolidate your crypto activity, calculate gains and losses, and generate the reports needed to file accurately.
Get started with Awaken Tax to simplify your cryptocurrency tax reporting.
Disclaimer: This guide provides general information about U.S. federal cryptocurrency taxation and does not constitute personalized tax or legal advice. Filing requirements depend on individual circumstances and applicable laws. Consult a qualified tax professional for guidance on your situation.
