Records & Tax

What crypto records should I keep for US taxes?

Published Updated 7 min read

Which crypto records should a US taxpayer keep?

Keep dates, units, transaction types, US dollar values, cost basis, fees, wallet addresses and exchange exports. Reconcile them before filing. A broker statement may not contain your complete history. Keep evidence for transfers between your own wallets and ask a qualified tax professional about uncertain treatment.

By: Sherpa Desk

Review status: Source-checked by the CryptoSherpa Editorial Desk; no named accountant or tax lawyer has reviewed this guide.

Scope: United States; general record-keeping information, not tax advice.

Crypto transaction tokens filed in separate sleeves beside a calculator.
Valuation
Retain the US dollar value and valuation method at the relevant time
Evidence
Keep original exports alongside your reconciled records
  1. 1Export exchange and wallet histories regularly.
  2. 2Record units, dates, transaction purpose, basis and US dollar valuations.
  3. 3Match transfers using addresses and transaction hashes.
  4. 4Ask a qualified US tax professional about missing data or uncertain classifications.

Keep an export, not just a balance

A balance cannot explain how you acquired assets or which units you disposed of. Save raw exchange files, wallet histories, transaction hashes and connected bank statements. Keep the originals when you correct a spreadsheet so the changes remain traceable.

Record values in US dollars

The IRS lists asset type, time, units, fair market value and basis among the information needed to work out gains or losses. Record your valuation source alongside each entry. A missing price is a reconciliation task, not permission to substitute today’s price.

Reconcile before filing

Match outgoing and incoming transfers and keep fees separate. Compare broker statements with your own history, especially when you moved assets between services. If records are incomplete, ask the provider for an export and preserve evidence of your request.

This checklist does not calculate liability or choose an accounting method. Use the current IRS guidance and a qualified US tax professional for treatment specific to your facts.

Sources

Primary and authoritative sources checked on the dates shown:

  1. Digital assets — Internal Revenue Service; accessed .
  2. Digital asset transaction FAQs — Internal Revenue Service; accessed .

Questions

Is a wallet transfer always irrelevant for tax?

Keep records even when both wallets are yours. The underlying transfer and any transaction fee paid in digital assets can have different treatment. Check current IRS guidance for your circumstances.