Crypto Tax Reporting in 2026: What Changed and How to Prepare
New IRS reporting requirements for crypto took effect in January 2026. Here is what you need to know and how to stay compliant.
The IRS has implemented significant changes to cryptocurrency tax reporting for the 2025 tax year (filed in 2026). These changes affect virtually every crypto user in the United States.
Key Changes
The most impactful change is the expanded Form 1099-DA, which centralized exchanges must now issue for all dispositions. This means the IRS will have a clearer picture of trading activity than ever before.
Additionally, the cost basis reporting rules now require exchanges to report on a per-wallet basis, creating potential complications for users who transferred assets between platforms.
How to Prepare
Start by aggregating all your transaction history across exchanges and wallets. Our Tax Calculator tool can import data from major platforms and generate preliminary reports.
Recommendations
We strongly recommend using dedicated crypto tax software for the 2025 filing year. Our comparison of the best crypto tax software covers the top options and their features.