File your crypto taxes with confidence using this helpful guide. Learn what’s taxable, which forms to expect, and get quick tips on how to file.
Tax season doesn’t have to be complicated. Whether you’re a long-term holder, an occasional investor, or actively trading, Binance.US offers free tools to help you file with confidence.
If you sold, exchanged, spent, or earned crypto on Binance.US in 2025, you have tax obligations. This guide will cover what's taxable, what forms you’ll want to download before you file, and answers to the most common questions we see every year.
Key updates for 2025
U.S. taxpayers have until Wednesday, April 15, 2026 to file their 2025 tax return. If you filed for an extension, the due date is October 15, 2026. Here are a few key changes to keep in mind for this year’s filing:
- Cryptocurrency exchanges like Binance.US are now required to provide a Form 1099-DA, if you sold, exchanged, or spent digital assets, regardless of amount. If you’re eligible for a Form 1099-DA from Binance.US, your form is already available to download (available as of early February 2026).
- If you gifted crypto in 2025, the annual exclusion amount is now $19,000 per recipient (up from $18,000 in 2024)
Understanding crypto taxes
In the U.S., taxable events include transactions that involve digital assets and income from digital assets. Digital assets include cryptocurrencies, stablecoins, and non-fungible tokens (NFTs).
Taxable events
The following transactions and events are generally taxable as capital gains or income.
- Selling crypto for fiat (USD)
- Converting one crypto for another (deemed as the disposition of property)
- Receiving compensation in crypto
- Earning rewards in crypto such as staking rewards
- Paying for goods and services using crypto
- Airdrops
Non-taxable events
The following transactions and events are generally non-taxable, but still important to track for record-keeping.
- Transferring crypto from one wallet to another owned by the same person (within Binance.US or across exchanges)
- Buying crypto with USD and holding it in a wallet
- Some donations of crypto to registered charitable or qualified non-profit organizations¹
- Gifting crypto up to $19,000 per recipient in 2025²
IRS forms that Binance.US provides
For the 2025–2026 tax season, all Binance.US users with taxable events qualify for Form 1099-DA. In addition, if you earned $600 or more in qualifying income, you will also receive a Form 1099-MISC. Crypto exchanges like Binance.US are required to report these to the IRS and provide you with a copy of the form(s). If you received an IRS form from Binance.US, you’ll need to report any taxable events in these forms as part of your 2025 tax filing.
Form 1099-DA
Provided if you sold, exchanged, or spent digital assets in 2025, regardless of amount. Keep in mind that you are responsible for reporting taxable gains or losses (if any), regardless of whether you received a 1099-DA.
Please note you will not receive 1099-DA if you only purchased or held digital assets in 2025. Furthermore, the IRS has established specific minimum reporting thresholds for certain assets, including stablecoins and non-fungible tokens (NFTs). If your total sales of a specific stablecoin (for USD or another digital asset) are under $10,000 for the year at a single exchange, exchanges like Binance.US are not required to issue a 1099-DA for those trades. The minimum reporting threshold for NFTs is under $600 for the year.
Form 1099-MISC
Provided if you earned $600 or more from eligible income producing activities in 2025 ($2,000 for the 2026 tax year).
To view your available 2025 IRS tax forms, log in and visit the Tax Reports page.
Binance.US transaction history reports
IRS forms provide helpful summaries of certain reportable activity, but they don’t always capture the full picture of everything that happened in your account.
Binance.US users can access a more complete record of their on-platform activity with the Transaction History Report tool. This tool is useful if you want to reconcile all transactions, need supporting documentation, or want to confirm your records beyond what appears on your Form 1099-DA and/or Form 1099-MISC.
Transaction history report tool
Provided to all Binance.US users with qualifying transactions. Users can generate and download annual and quarterly reports that include the following transactions:
- Buy, Sell & Convert
- Advanced (Spot) Trading
- Deposits and withdrawals
- Distribution activity (including staking)
- OTC (over-the-counter) trades
- Other miscellaneous transactions
Yearly and quarterly transaction reports are available for download at any time, provided the reporting period has ended. To access custom transaction history reports, log in and visit the Reports page.
Tips on how to file crypto taxes
The easiest way to file crypto taxes is to prepare a complete record of taxable events and decide how you want to file. Whether you’re consulting a tax professional, using a third-party tax reporting platform, or filing manually, here’s a simple checklist to help you navigate this year’s filing season.
- Gather your Binance.US tax documents. Download any IRS form(s) that are available to you and use the transaction history report tool to download a comprehensive account of your transaction activity.
- Include any off-platform activity (if applicable). If you made digital asset transactions or earned income from digital assets outside of Binance.US, collect those records too. Even if your Binance.US records are complete, your tax return should reflect your total activity across platforms.
- Decide how to file. Your filing process may vary depending on how you’re filing:
- Filing via a tax professional: Share your Binance.US tax documents and records with your tax professional, including any IRS form(s) you received and your annual transaction history reports.
- Filing with tax software: Import your IRS form(s), if any, into your preferred third-party tax reporting platform. You can also use Binance.US’ Tax API feature to connect your Binance.US account directly to your tax reporting platform of choice. Before creating an API key, review best practices and safety tips to help prevent unauthorized account access.
- Filing manually (without tax software): If you’re filing manually, you’ll need to carefully determine your tax obligations and include Form 8949 (used to report sales and exchanges of capital assets) and Form 1040, Schedule D (generally supplements Form 8949 and serves as the master summary, consolidating individual transactions from Form 8949 into a high-level overview of your net capital gains and losses) with your annual tax return.
Ready to get started?
If you need to file crypto taxes this year, log in to your Binance.US account and visit the Reports page to view all available forms and documents.
Interested in signing up? Get the app or click here to create your free Binance.US account.
Additional resources
- Binance.US Tax Center
- Cryptocurrency tax reporting 101
- How to download tax forms 1099-MISC and 1099-DA
- How to download your transaction history or tax report
- How to generate your tax API key
Download the Binance.US app: iOS | Android
¹ If crypto is donated to a tax-exempt non-profit or charitable organization (registered 501c(3) organization), a donor can claim a charitable deduction equal to the fair market value of the donated cryptocurrency if the donated cryptocurrency was held for more than one year. If the cryptocurrency was held for one year or less, the charitable contribution equates to the lesser of tax basis in the cryptocurrency or the fair market value of such cryptocurrency at the time of the contribution.
²For recipients of a crypto gift, there is no taxable event till the crypto is sold, exchanged, or otherwise disposed of in a transaction. At the time of such sale, exchange or disposal, the cost basis depends on whether a gain or loss will result. If a gain will result, the tax basis equates to that of the donor’s tax basis at the time the gift was received (plus gift tax paid by donor on the gift, if applicable). If a loss will result, the tax basis will equate the lesser of the donor’s basis or the fair market value at the time the cryptocurrency was received as a gift. Documentation is critical, as the lack of documentation may result in a $0 basis. For donors of a crypto gift, a gift tax return is not required for gifts up to $19,000 made per recipient in 2025. Above that, one must file a gift tax return. For 2025 gifts above $19,000, please consult your tax advisor with regard to estate and gift taxation.
Tax disclaimer: BAM Trading Services Inc. (“Binance.US”) does not provide tax advice. We recommend contacting a tax professional for your specific tax situation. This guide is provided for educational purposes only.
Do your own research: This material has been prepared for general informational purposes only and should NOT be: (1) considered an individualized recommendation or endorsement of any digital asset or services discussed herein; and (2) relied upon for any investment activities. All information is provided on an as-is basis and is subject to change without notice. We make no representation or warranty of any kind, express or implied, regarding the accuracy, validity, reliability, availability or completeness of any such information. Binance.US does NOT provide investment, legal, or tax advice in any manner or form. The ownership of any investment decision(s) exclusively vests with you after analyzing all possible risk factors and by exercising your own independent discretion. Binance.US shall not be liable for any consequences thereof.
Risk warning: Buying, selling, and holding cryptocurrencies are activities that are subject to high market risk. The volatile and unpredictable nature of the price of cryptocurrencies may result in a significant loss. Binance.US is not responsible for any loss that you may incur from price fluctuations when you buy, sell, or hold cryptocurrencies.