CoinLedger @CoinLedger

Crypto taxes done in minutes. The #1 Crypto Tax Software. Track your portfolio, get your tax forms. For support, please email [email protected]. coinledger.io Joined February 2018

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CoinLedger @CoinLedger

2 weeks ago

🚨 Illinois just did what no state ever has. It is now taxing crypto TRANSFERS, not just gains. Starting Jan 2027: a 0.2% tax on digital asset transactions (exchange, transfer, custody) handled for Illinois customers. It technically falls on the exchange. But they collect it and pass it to you as a line item, like sales tax. Worth knowing: this is a state tax, separate from federal. Moving crypto between your own wallets still isn't a taxable event federally.

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CoinLedger @CoinLedger

2 weeks ago

Tax Tip: your new 1099-DA can report a gain way bigger than you actually made. Bought $10k of BTC on one exchange, moved it to your own wallet, then sold for $12k on another? That form can show $12k in proceeds with $0 cost basis. Your real gain was $2k. Fix: report your actual cost basis on Form 8949.

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CoinLedger @CoinLedger

2 weeks ago

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CoinLedger @CoinLedger

2 weeks ago

🇬🇧 Gifting crypto to your spouse in the UK is completely tax-free. The UK capital gains allowance is only £3,000 per person. Sell more than that in gains, you owe CGT on the rest. But your spouse has their own £3,000 allowance. And you can gift them crypto without triggering a tax event. They inherit your original cost price. Say you hold ETH with a £6,000 gain. Gift your partner half. Now you each hold half with a £3,000 gain. You sell your half, they sell theirs. Both of you use your own £3,000 allowance. Zero CGT between you. That's £6,000 sheltered as a couple, versus £3,000 alone.

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CoinLedger @CoinLedger

2 weeks ago

UK Crypto Tip: Gifting crypto to your spouse is tax-free. Your spouse then sells using their own £3,000 annual capital gains allowance. As a couple, you effectively double your CGT-free threshold before paying a penny in tax. (Transfer itself is tax-free — they inherit your original cost price, and CGT is calculated from that when they sell.)

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CoinLedger @CoinLedger

2 weeks ago

Crypto tax tip: Your portfolio value and your tax bill are two different numbers. Most traders track what their crypto is worth right now. The IRS cares about your cost basis: what you paid per coin and when you bought it. Your capital gain = sale price minus cost basis. For every purchase, record: - Date of purchase - Price per coin at the time of purchase - Quantity bought No cost basis records, no accurate tax reporting.

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CoinLedger @CoinLedger

2 weeks ago

Tax Tip: Portfolio value alone isn't enough at tax time. To calculate taxable gains, you need both sides of every trade: Cost basis: date bought, price paid, quantity Sale data: date sold, sale price Without both, there's no gain to calculate.

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CoinLedger @CoinLedger

3 weeks ago

Tax Tip: Crypto losses can offset unlimited capital gains within the same tax year. Lost $30,000 on a bad ETH trade but gained $30,000 selling BTC? They cancel out completely. Net taxable capital gains: $0. You can also apply up to $3,000 of excess losses against ordinary income each year. Anything left carries forward to future tax years.

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CoinLedger @CoinLedger

3 weeks ago

Crypto tax tip: No KYC doesn't mean no taxes. If you swap ETH for UNI on Uniswap and deposit it to Coinbase, Coinbase has no record of what you paid on the DEX. When you sell, the IRS sees full proceeds and zero cost basis. You could owe tax on money you already spent.

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CoinLedger @CoinLedger

3 weeks ago

Tax Tip: Crypto losses offset stock and real estate gains too. If you sold index funds at a profit this year, selling underwater crypto before Dec 31 can zero out those gains. When total losses exceed gains, you can also deduct up to $3,000 against ordinary income. The rest carries forward to next year.

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CoinLedger @CoinLedger

3 weeks ago

Tax Tip: Crypto arbitrage isn't the free money it looks like. Every time you buy on one exchange and sell on another, that sale is a taxable event. Hold for minutes and the profit is a short-term gain, taxed as ordinary income, up to 37%. Run it hundreds of times a month and trading fees plus taxes quietly eat the spread.

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CoinLedger @CoinLedger

3 weeks ago

Tax Tip: The wash sale rule doesn't apply to crypto. You can sell Bitcoin at a loss, lock in that capital loss to offset your gains, then buy it right back the same day. Try that with stocks and the IRS disallows the loss for 30 days. Crypto has no such rule today.

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CoinLedger @CoinLedger

3 months ago

Non-taxable transactions: - Moving crypto between your own wallets - Buying crypto with USD - HODLing - Gifting crypto under $19K

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CoinLedger @CoinLedger

3 months ago

Worried about getting your crypto taxes done before the deadline? Tax extensions are free and easy to file. You still owe an estimated tax payment by April 15, but you have until October 15 to make sure you have an accurate record of your gains/losses.

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CoinLedger @CoinLedger

3 months ago

5 days until the tax deadline. Crypto tax tip: if your 1099-DA proceeds don't line up with what you report on Form 8949, it could lead to issues with the IRS. Check the numbers before you file.

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CoinLedger @CoinLedger

3 months ago

Tax Tip: If your 1099-DA proceeds are flat-out wrong, request a corrected form from your exchange. Cost basis showing zero or unknown? Don't worry. Exchanges aren't required to track and report basis for the 2025 tax year. Just report your true cost basis on Form 8949.

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CoinLedger @CoinLedger

3 months ago

Got a 1099-DA showing $47,000 in proceeds and no cost basis? Don't worry, you don't owe taxes on $47,000 of capital gain. Exchanges are not required to report cost basis for the 2025 tax year. As long as you have records, you can report your own basis on Form 8949.

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CoinLedger @CoinLedger

3 months ago

Crypto tax tip: Moving crypto from Coinbase to another exchange doesn't reset your holding period. The issue: your new exchange has no record of your original buy date, so it won't be reported on Form 1099-DA. That's why it's important to keep records of your crypto purchases. Remember, your holding period determines whether you pay short-term or long-term capital gains tax rates (and the difference can be significant!)

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CoinLedger @CoinLedger

3 months ago

Staking rewards are taxed when you receive them, not when you withdraw them. You have dominion and control the moment you can withdraw the crypto from your wallet. It's ordinary income based on fair market value at receipt. Some stakers miss this and only report when they cash out.