10 Essential Crypto Tax Tips You Need to Know Before Filing in 2026

Core Insights - Cryptocurrency investments are subject to taxation under the Internal Revenue Code, contrary to common misconceptions about their tax-exempt status due to decentralization or online wallet storage [3][4] - Accurate tracking of cost basis is essential for taxpayers, especially when assets are transferred across different platforms or wallets, which can complicate the original acquisition date and value [5][6] - Tax liability arises from specific transactions involving cryptocurrencies, such as selling, exchanging, or using them for purchases, while merely holding them does not trigger taxes [7][8][9]