Cryptocurrency Tax Summary Template
Year-end crypto gain/loss summary for Form 8949 — supports short-term and long-term breakdowns.
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CRYPTOCURRENCY TAX SUMMARY (FORM 8949 + SCHEDULE D)
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Taxpayer: Jordan Alex Taylor
Tax year: 2026
Cost-basis method: Specific Identification (per-lot)
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EXCHANGES & WALLETS COVERED
Coinbase
Kraken
Ledger hardware wallet (self-custody)
MetaMask (self-custody — Ethereum)
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CAPITAL GAINS / LOSSES (Form 8949 + Schedule D)
SHORT-TERM (held ≤ 1 year — taxed at ordinary income rates)
Total proceeds: $14,250.00
Total cost basis: $11,800.00
Net short-term capital gain / (loss): $2,450.00
LONG-TERM (held > 1 year — preferential 0/15/20% rates)
Total proceeds: $32,400.00
Total cost basis: $18,900.00
Net long-term capital gain / (loss): $13,500.00
TOTAL NET CAPITAL GAIN / (LOSS): $15,950.00
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ORDINARY INCOME FROM CRYPTO (Schedule 1)
Staking / mining income (FMV at receipt): $1,240.00
Airdrops (FMV at receipt): $380.00
DeFi lending / interest: $220.00
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TOTAL ORDINARY CRYPTO INCOME: $1,840.00
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OTHER ITEMS
Crypto lost / stolen / rugpulled: $0.00
► Lost-key/wallet-error losses are NOT deductible (Rev. Rul. 2009-9).
► Theft losses limited to federally declared disaster after TCJA.
► Worthless tokens from rugpull/exchange-bankruptcy: case-by-case.
Crypto donated to charity (FMV): $1,500.00
► If held > 1 year: deduct full FMV (no capital gain).
► If held ≤ 1 year: deduct lesser of basis or FMV.
► Form 8283 required for non-cash contributions > $500.
► Qualified appraisal required for crypto donations > $5,000.
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SIGNIFICANT TRADES — DETAIL EXCERPT
2026-01-12 | Sold 0.4 BTC @ $96,200 | basis $42,800 | LT gain $5,680
2026-02-08 | Swapped 5 ETH → 3,200 USDC | LT gain $2,140
2026-03-15 | Sold 200 SOL @ $185 | basis $26,800 | ST loss ($9,800)
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REQUIRED ATTACHMENTS
□ Form 8949 — every disposition (one row per closing transaction)
Note: 2026 returns use new Form 1099-DA reporting from custodial
exchanges (Coinbase, Kraken, etc.). Self-custody trades still
require taxpayer-maintained records.
□ Schedule D — totals from Form 8949 by short-term and long-term
□ Schedule 1, line 8 (other income) — ordinary income from staking,
airdrops, mining, DeFi interest
□ FBAR / Form 8938 (foreign reporting) — for crypto held on foreign
exchanges (Binance non-US, KuCoin) above thresholds
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KEY 2026 RULES
► Form 1099-DA: New custodial-exchange reporting form effective
for 2025 sales reported in 2026. Exchanges report gross proceeds
on each sale; cost-basis reporting begins 2026 sales (reported 2027).
► Wash-sale rule: Does NOT currently apply to cryptocurrency
(the wash-sale rule under §1091 covers "stock or securities,"
and crypto has been treated as property, not securities, under
Notice 2014-21). Tax-loss harvesting is therefore permitted
without 30-day wait — but pending legislation may change this.
► Crypto-to-crypto swaps: TAXABLE event (each swap is a
disposition). No like-kind treatment after TCJA (§1031 limited
to real estate).
► Form 1040 digital-asset question: Every filer must answer
yes/no on the front page; even purely-holding non-disposers
answer accurately.
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Summary compiled: May 4, 2026
About this template
Cryptocurrency taxation in 2026 is the most complex area of personal taxation outside of Subchapter S and partnership taxation. The IRS treats crypto as property (Notice 2014-21), meaning every disposition — sale to fiat, swap to a different token, payment for goods or services — is a taxable event triggering capital-gain or loss reporting on Form 8949. Long-term holdings (held more than one year) get the preferential 0/15/20% rates; short-term holdings get ordinary income rates. Staking rewards, mining income, airdrops, and DeFi interest are ORDINARY income at fair market value when received, then a new cost basis from that point forward (Rev. Rul. 2023-14 confirmed this for staking). The biggest 2026 change is Form 1099-DA: custodial exchanges (Coinbase, Kraken, Gemini) must report gross proceeds for 2025 dispositions, with cost-basis reporting starting 2026 dispositions. This means the IRS will see what filers received from exchanges — under-reporting will be visible automatically. Self-custody (hardware wallet, MetaMask) and foreign exchanges remain taxpayer-self-reported. The wash-sale rule (§1091) does NOT currently apply to crypto, allowing tax-loss harvesting without the 30-day wait — but pending legislation has proposed extending wash-sale to crypto, so this advantage may not last. Lost private keys, scam losses, and rugpulls have very limited deductibility — the IRS treats most as personal casualty losses, which are themselves limited to federally-declared disasters since TCJA. Crypto donated to a 501(c)(3) held more than one year is the most tax-efficient charitable strategy: full FMV deduction, no capital-gain recognition.
When to use it
- Year-end summary for filing crypto-related Form 8949.
- Mid-year tax-loss harvesting check.
- Comparing cost-basis methods (FIFO vs HIFO vs Specific ID).
- Audit defence for crypto positions held across multiple wallets.
- Charitable-giving planning for appreciated crypto.
What to include
- List of all exchanges and self-custody wallets used.
- Cost-basis method elected.
- Short-term and long-term gain/loss totals.
- Ordinary income from staking, mining, airdrops, DeFi.
- Donations and lost/stolen amounts.
- Significant trades and their tax treatment.