Crypto.com Tax Reporting: Step-by-Step Guide

🎯 Quick Summary (Featured Snippet Target)

To report Crypto.com taxes, export all trades, conversions, and rewards, compute cost basis and proceeds for every disposal, and file them on Form 8949 with totals on Schedule D. Report staking and card rewards as ordinary income on Schedule 1 and reconcile against any 1099 forms.

Official IRS Resources

For authoritative guidance on cryptocurrency taxation, see:

• IRS Digital Assets - Official IRS crypto tax page
• Form 8949 Instructions - Capital gains reporting
• Schedule D Instructions - Summary of gains/losses

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Official IRS Resources

For authoritative guidance on cryptocurrency taxation:

• IRS Digital Assets - Official IRS crypto tax page
• Form 8949 Instructions - Capital gains reporting
• Schedule D Instructions - Summary of gains/losses

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How Crypto.com Tax Reporting Works

Trades, swaps, and spending through Crypto.com are taxable disposals. Card rewards, staking, and Earn payouts are ordinary income when received. Accurate reporting requires full exports, USD valuations at transaction time, and precise fee handling.

Understanding Your Tax Obligations

Crypto.com provides data, but you are responsible for filing Form 8949 accurately.

Key deadlines for 2026:

Capital gains fundamentals
End-to-end filing steps
Complete crypto tax rules

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Step 1: Export Crypto.com Transactions

Export CSVs or use API data covering the entire tax year: spot trades, swaps, card activity, deposits/withdrawals, Earn/staking rewards, and fees.

Export checklist

• Export full-year data with a buffer around year-end.
• Keep originals as evidence; avoid altering source files.
• Normalize timestamps to UTC and values to USD for consistency.

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Step 2: Distinguish Taxable Events from Transfers

Taxable: swaps, trades, spending crypto (card or wallet), reward sales/redemptions.
Non-taxable: transfers between wallets you own—record them to preserve basis continuity and prevent phantom gains.

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Step 3: Calculate Cost Basis, Proceeds, and Holding Period

• Basis: purchase price + acquisition fees.
• Proceeds: USD value at disposal, minus selling fees.
• Holding period: short-term if held ≤12 months; long-term if >12 months.

Use FIFO or specific ID with documentation. Accurate fee handling lowers taxable gains.

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Step 4: Report Rewards and Card Cashback

Crypto.com card cashback and staking/Earn rewards are ordinary income at fair market value when received. Later disposals of those tokens generate capital gains/losses using that income value as basis. Report income on Schedule 1 (or Schedule C for business activity).

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Step 5: File Form 8949 and Schedule D

• List each disposal on Form 8949 (short vs long term separately).
• Summarize totals on Schedule D and apply carryover losses if applicable.
• Keep exports, wallet mappings, and price sources in workpapers for audit defense.

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Step 6: Reconcile with Any 1099s

If Crypto.com issues 1099s, match proceeds, quantities, and dates. Investigate differences—especially transfers that leave Crypto.com and later dispose elsewhere. Document bridges/wraps and rationale.

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Common Crypto.com Tax Pitfalls

• Ignoring card cashback or Earn rewards as income.
• Treating transfers as disposals, inflating gains.
• Missing fees in basis/proceeds.
• Not converting to USD at transaction time.
• Incomplete exports (missing products or date ranges).

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Automate Crypto.com Tax Reporting with CryptoForms

CryptoForms ingests Crypto.com exports, tags transfers, calculates lot-level basis, and produces Form 8949 + Schedule D. It flags missing basis, duplicate entries, and mismatches to 1099 data, keeping audit-ready workpapers.

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Frequently Asked Questions

Does Crypto.com issue a 1099?

Depending on activity and jurisdiction, Crypto.com may issue 1099 forms. You must still report all trades and income using complete records.

Are Crypto.com swaps taxable?

Yes. Swapping one token for another is a taxable disposal; use the USD value received as proceeds.

How are Crypto.com card rewards taxed?

Card cashback is ordinary income at receipt. Selling those tokens later creates capital gains or losses based on the income value as basis.

Which forms do I need for Crypto.com trades?

Form 8949 for each disposal, Schedule D for totals, and Schedule 1 for income. Attach carryover schedules if applicable.

How do fees affect gains?

Fees on acquisitions increase basis; fees on disposals reduce proceeds. Accurate fee handling reduces taxable gains.

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Final Verdict / Conclusion

Accurate Crypto.com tax reporting depends on complete exports, correct basis and proceeds calculations, income recognition for rewards, and clean Form 8949/Schedule D filings. Reconcile to any 1099s, document transfers, and keep audit-ready workpapers to avoid penalties.