Crypto Taxes: 4 Things Beginners Must Track

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What you need to know

• Did you know you can owe taxes on crypto even if you never cashed out to dollars?
• If you bought, sold, swapped, or earned crypto, the IRS may want a record of it
• The good news: you do not need to be a tax expert to stay organized

HOOK

Did you know you can owe taxes on crypto even if you never cashed out to dollars? [b-roll: phone screen showing a crypto app and a calendar]

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If you bought, sold, swapped, or earned crypto, the IRS may want a record of it. The good news: you do not need to be a tax expert to stay organized.

KEY POINT 1

First, track every purchase. Save the date, amount, coin, price, and fees. [b-roll: spreadsheet with columns for date, crypto, cost, fees]

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That cost basis is what helps determine whether you made a gain or a loss later.

KEY POINT 2

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Second, log every sale and swap. Selling Bitcoin for cash is taxable, but swapping Ethereum for another coin can be taxable too. [b-roll: animation of one coin converting into another]

Even small trades can matter, so keep the transaction history.

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