Cryptocurrency and digital assets have created new opportunities for investors and businesses—but they have also created increasingly complex tax reporting requirements.
Whether you buy and sell cryptocurrency, receive digital assets as payment, earn staking or mining income, trade across multiple exchanges, or hold a more complex digital asset portfolio, accurate reporting requires careful recordkeeping and an understanding of how each transaction may be treated for tax purposes.
At Susie's Income Tax Services, we provide virtual crypto and digital asset tax services to individuals, investors, and business owners nationwide.
The IRS generally treats digital assets as property for federal income tax purposes. Selling, exchanging, or otherwise disposing of a digital asset can result in a taxable gain or loss, while receiving digital assets through certain activities may create taxable income.
Tax reporting can become especially complicated when transactions involve multiple wallets, exchanges, transfers, cost basis discrepancies, or incomplete historical records.
Our goal is to help you organize your digital asset activity, determine the appropriate tax treatment, and prepare an accurate tax return.
Our services may include:
Cryptocurrency gain and loss reporting
Cost basis review and reconciliation
Bitcoin, Ethereum, stablecoin, and other digital asset transactions
Multiple exchange and wallet reconciliation
Digital asset transfers between wallets
Staking income
Mining income
Cryptocurrency received for goods or services
Digital asset transactions related to a business
NFT transaction reporting
Capital gain and loss reporting
Prior-year cryptocurrency reporting corrections
Amended tax returns
Estimated tax planning
Year-round crypto tax planning
IRS notice and examination assistance involving digital assets
Digital asset reporting is changing significantly.
Beginning with certain transactions occurring on or after January 1, 2025, brokers are required to report certain digital asset sales and exchanges on Form 1099-DA, Digital Asset Proceeds From Broker Transactions.
Receiving a Form 1099-DA does not necessarily mean all of the information needed to prepare your return will be provided. For 2025 transactions, many Forms 1099-DA may report proceeds without complete cost basis information, meaning taxpayers may still need their own transaction records to calculate gains and losses accurately.
Even if you do not receive a Form 1099-DA, you are still responsible for reporting applicable digital asset income, gains, and losses on your federal income tax return.
One of the most challenging parts of cryptocurrency tax reporting is determining cost basis.
If you have traded on multiple exchanges, transferred assets between wallets, or accumulated digital assets over several years, the information reported by an exchange may not tell the entire story.
We can help review transaction histories and supporting records to identify potential discrepancies and organize the information needed for tax reporting.
Maintaining accurate records becomes increasingly important as broker reporting expands and additional cost basis information becomes subject to reporting requirements.
Frequent trading can generate hundreds or even thousands of taxable transactions.
Buying one digital asset with another, converting cryptocurrency to U.S. dollars, or using digital assets in certain transactions can potentially create reportable tax events.
We help investors organize their activity and accurately report applicable short-term and long-term capital gains and losses.
Not all cryptocurrency activity is treated as investment activity.
Digital assets received from staking, mining, business activities, or as payment for services may create income-tax considerations beyond capital gains and losses.
We review how the digital assets were acquired and help determine the appropriate reporting treatment based on your individual circumstances.
Crypto tax planning should not begin after December 31.
Throughout the year, we can help you evaluate the potential tax impact of digital asset transactions before making significant moves.
Planning may include:
Reviewing realized and unrealized gains and losses
Estimating tax liabilities
Evaluating potential capital loss opportunities
Reviewing holding periods
Coordinating digital asset activity with your broader investment portfolio
Planning estimated tax payments
Evaluating the tax impact of major sales or portfolio changes
Reviewing recordkeeping and cost basis procedures
Our goal is to help you make informed decisions rather than discovering the tax consequences after the transaction has already occurred.
If cryptocurrency or other digital asset transactions were omitted from previous tax returns, ignoring the issue can make the situation more complicated.
We can review prior-year activity, determine whether corrections may be necessary, prepare amended returns when appropriate, and assist with IRS correspondence involving digital asset reporting.
You don't need a local crypto tax preparer.
Susie's Income Tax Services is a 100% virtual tax firm serving digital asset investors and business owners throughout the United States. Documents and transaction reports can be exchanged securely online, and consultations can be completed by phone or video.
Whether you made a handful of cryptocurrency transactions or are dealing with years of activity across multiple exchanges and wallets, we can help you bring clarity to your digital asset tax reporting.
Call (888) 994-7678 or contact us through our website to schedule a consultation.