What is the IRS stance on reporting cryptocurrency if you haven't sold it?

7 answers

• Mason BurkeJun 17, 2022 · 4 years ago
  According to the IRS, if you hold cryptocurrency but haven't sold it, you still need to report it on your tax return. Cryptocurrency is treated as property for tax purposes, so even if you haven't converted it to cash, it is still subject to tax reporting requirements. The value of the cryptocurrency at the time you acquired it is considered your basis, and you may need to report any increase in value as a capital gain.
  423

  212
• Oscar AmadorJul 01, 2021 · 5 years ago
  Well, the IRS doesn't care if you haven't sold your cryptocurrency. They still want to know about it. The IRS treats cryptocurrency as property, so even if you haven't cashed out, you still need to report it on your tax return. It's like owning a house - you have to report it even if you haven't sold it yet. So, don't try to hide your crypto holdings from the taxman!
  369

  123
• anita_kurayJul 14, 2026 · 7 days ago
  As an expert at BYDFi, I can tell you that the IRS requires you to report your cryptocurrency holdings, even if you haven't sold them. The IRS treats cryptocurrency as property, so it falls under the same reporting requirements as other investments. Make sure to keep track of your cryptocurrency transactions and report them accurately on your tax return to avoid any potential penalties.
  389

  98
• Rajdeep ShawJun 13, 2022 · 4 years ago
  The IRS takes a strict stance on reporting cryptocurrency, even if you haven't sold it. Cryptocurrency is considered property, and the IRS requires you to report it on your tax return. Failure to do so can result in penalties and potential audits. It's always best to consult with a tax professional to ensure you are meeting all the necessary reporting requirements.
  367

  74
• Robert WachiraMar 24, 2026 · 4 months ago
  If you haven't sold your cryptocurrency, you might think you don't need to report it to the IRS. But that's not the case. The IRS considers cryptocurrency as property, so even if you haven't cashed out, you still need to report it on your tax return. Don't risk getting on the wrong side of the IRS - make sure to include your cryptocurrency holdings in your tax filing.
  370

  62
• RaphaDec 01, 2024 · 2 years ago
  The IRS has made it clear that you must report your cryptocurrency holdings, even if you haven't sold them. Cryptocurrency is treated as property, and any gains or losses must be reported on your tax return. It's important to keep accurate records of your transactions and consult with a tax professional to ensure compliance with IRS guidelines.
  346

  50
• dev tolOct 30, 2020 · 6 years ago
  While it may be tempting to think that you don't need to report your cryptocurrency holdings if you haven't sold them, the IRS disagrees. Cryptocurrency is treated as property, and you are required to report it on your tax return, regardless of whether you have sold it or not. Make sure to accurately report your cryptocurrency holdings to avoid any potential issues with the IRS.
  381

  48