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CoinTracker
8,776 posts
- If you paid IRS penalties from 2020 to 2023, you may be owed a refund. Two court rulings suggest penalties on tax obligations from Jan 20, 2020 through Jul 10, 2023 may have been improper. Crypto investors were hit hard: big 2021 gains, 2022 market chaos, and complex DeFi
- Airdrop tax 101: ✅ Income at FMV once you have "dominion and control" ✅ Your cost basis going forward = that FMV ✅ If worthless at receipt, value is $0 (full gain is realized at sale) ❌ Ignoring it because it was "free" is not a strategy The IRS sees what's onchain.
- Staking rewards, in plain English: → Rewards are income the moment you receive them (IRS Rev. Rul. 2023-14) → Income = FMV at time of receipt → When you later sell those rewards, you have a separate capital gain/loss → Two taxable events, not one This is why staking-heavy
- Quarterly tax heads-up. ↓ Q2 estimated taxes due Monday, June 15. If you had significant realized gains in Q1–Q2 (crypto or otherwise), you likely owe. Underpayment penalties are small but annoying. A 10-minute estimate beats an April surprise.
- Weekend reading: Your portfolio tracking app. Open CoinTracker. Check for anything you've forgotten about. A wallet you used once? A staking position you haven't checked? An NFT gathering dust? Tag, label, or unstake. 15 minutes now saves hours later.
- Myth: Moving crypto between your own wallets is a taxable event. Reality: It's not. But if your tracker doesn't know the wallets belong to you, it looks like a sale on one side and a purchase on the other. Label your wallets. Future you is begging.
- CoinTracker reposted
CoinTracker Enterprise is partnering with @tempo For finance teams running stablecoin payment flows, this is the accounting infrastructure you've been missing. ↓
- Replying to @CoinTrackerA tax extension gives you an extra 6 months to file your return (new deadline: October 15). How to file: Submit IRS Form 4868 online. It's free and takes minutes. Then use CoinTracker to pull together your complete crypto tax report before the new deadline.
- It’s Tax Day. New forms. New rules. Some 1099-DA confusion. But you made it through. If you still need to file, today is your final day, and CoinTracker will help you get it done clearly and correctly.
- Support for the following chains, now live on CoinTracker. ↓ cointracker.com
