Cryptocurrency Taxes: IRS Digital Currency Reporting
By IRS Digital Currency Office | 8 min read
Report cryptocurrency taxes correctly with IRS guidance. Digital currency transaction rules and reporting requirements.
The IRS requires reporting all cryptocurrency transactions as taxable events. Key rules: Trading crypto for other crypto is taxable, Using crypto to buy goods/services is taxable, Mining crypto creates ordinary income, Holding crypto (no transactions) is not taxable, Keep detailed records of all transactions including dates, amounts, and fair market values. Use IRS Form 8949 and Schedule D to report capital gains and losses.\n\n**Related Resources**\n- [Financial Planning Tools](/tools)\n- [Budget Calculator](/budget-planner)\n- [Credit Guide](/category/Debt%20%26%20Credit)\n- [Money Saving Tips](/category/Save%20Money)