Lesson · Facts First
Crypto for Investors
Every trade is a taxable event in the US - the investors who survive audit are the ones who can reconstruct every lot.
The facts
- 01Cryptocurrency is property for tax purposes (IRS Notice 2014-21): selling, spending, or trading one coin for another realizes gain or loss each time.
- 02Since 2023 broker Form 1099-DA phase-in and 2025+ basis reporting requirements mean exchanges report cost basis - keep your own records anyway.
- 03Held over one year, gains use long-term rates; under one year, ordinary income rates - the holding period is real money.
- 04Wash-sale rules do not currently apply to property that is not a security - but proposed rules and the 2026 legislative environment keep shifting; do not build a strategy on the gap.
Sources
- IRS Notice 2014-21
- IRS: Digital Assets guidance
- Form 1099-DA (digital asset proceeds) rules
Educational content only — not tax, legal, investment, or VA-benefits advice. Figures verified against the cited sources for 2026; confirm your own situation with a qualified professional before acting.
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