Tax season is upon us, and with the filing deadline looming, it's time to get on top of your crypto taxes. If the complexities of crypto trades, DeFi flash loans, and NFT flipping have made a mess of your accounts, never fear. Decrypt and Koinly are here to make your crypto taxes a cinch.

Top Stories

Decrypt explores how crypto taxation is evolving worldwide, as authorities get to grips with new innovations such as DeFi, NFTs and play-to-earn gaming.

9 Top Tips For Filing Your Crypto Taxes in 2022

Tax season is upon us—the filing deadline to submit 2021 tax returns and pay tax owed is April 18, 2022. The IRS now asks all Americans to declare whether they’ve had crypto dealings or not. “At any time during 2021, did you receive, sell, exchange, or otherwise dispose of any financial interest in any virtual currency?,” reads the question on top of Form 1040. Don’t let the wording confuse you. By virtual currency, the IRS means crypto, even though it doesn’t view crypto as a currency–-it’s con...

What the IRS Court Case Over Crypto Staking Taxes Really Means

Should a person be taxed when they receive a staking reward in the form of cryptocurrency—or when they sell it? That's the question at the heart of a lawsuit being decided in a U.S. federal court, after a Tezos user was denied a refund request from the Internal Revenue Service on taxes owed for earning staking rewards. The case has caused some confusion about the IRS's current stance regarding these kinds of rewards. In reality, however, the IRS has only partially capitulated, saying it would re...

How Crypto Tax Software Can Simplify Your Taxes

This post is part of The Rollup, Decrypt's curated collection of stories presented in partnership with Koinly. If you currently hold cryptocurrency in your portfolio or you have traded crypto over the past year, it’s high time you started figuring out your crypto tax obligations. That can sound like a daunting prospect—even if you don’t owe anything in taxes. Browse through crypto social media, and you'll find that the main tax preparation advice given to newbie traders is to make a note of the...

Further Reading

Explore the topic of the week in greater detail with this selection of news and features.

Lawmaker Takes Aim at Puerto Rico as Crypto Tax Haven

Rep. Nydia Velaquez called for tougher action against crypto millionaires using Puerto Rico as a tax shelter.

Five Ways to Minimize Your Crypto Tax Hit

No one likes paying taxes—but when it comes to crypto, you can employ strategies to reduce what you owe. A CPA share his insights.

The Crypto Taxman is Coming. Should You Be Worried?

Millions of people made money on crypto last year, and now the IRS is looking for its cut. Here's how to stay out of trouble.

Crypto Tax Guide: NFTs and DeFi

Innovations like NFTs and DeFi raise questions for crypto taxpayers about how to report them for tax purposes. Here's our handy guide.