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.