April 4, 2024 Any income earned from digital asset transactions must be reported on your federal tax return. Common digital assets include: Convertible virtual currency and cryptocurrency. Stablecoins. Non-fungible tokens (NFTs). Rewards income from staking or earn programs If you file Form 1040, 1040-SR, 1040-NR, 1041, 1065, 1120 or 1120-S, you must answer "No" or “Yes” to the digital asset question and report all earned income. Detailed reporting requirements are available in the Instructions for Form 1040 and Form 1040-SR and on the Digital Assets page on IRS.gov.
