Crypto Tax Guide USA 2025

There's a popular belief floating around that when it comes to cryptocurrencies, you're moving in a shadow world where transactions slip past the IRS unnoticed. Is this really true?

In the UK, there's a lingering belief among some crypto enthusiasts that their transactions exist in a sort of no-man's land, invisible to the prying eyes of Her Majesty's Revenue and Customs (HMRC). Is this really true?

Summ is thrilled to announce a global partnership with Coinbase, one of the world’s cryptocurrency exchange giants.

Security update

We have become aware that cyber-criminals may be planning a sophisticated phishing scam targeting some Summ (Summ) users. This requires your immediate and urgent attention.

An comprehensive guide to crypto staking taxes in Australia.

A complete step-by-step guide to filing your crypto taxes with the ATO through myTax using Summ's ATO myTax report.

Stay up to date with the latest crypto tax regulations, alongside detailed product tutorials and advice from industry-leading tax professionals.

Everything you need to know about unrealized crypto gains and their possible tax implications.

Wondering what the difference is between a CEX and a DEX, and how that might impact your experience come tax time? Read our latest blog for all the information you need.

A comprehensive guide to top cryptocurrency wallets in the market to safely store your assets. From hot digital wallets to hardware wallets, this guide will help users pick the most valuable wallet with features that meet your specific needs.

One of the new ideas in the crypto space in using your crypto as collateral to borrow money. Of course it's a little different to traditional loans so here's everything you need to know about borrowing crypto.

Struggling to understand what a smart contract is and how they work? We break it all down for you in this blog.

Staking has increased in popularity in the crypto world. We have detailed everything you need to know about staking and its tax consequences in this article.

Struggling to understand what a blockchain explorer is and how to use one? We break it down for you in this blog.

Struggling to understand crypto mining and its tax implications? We break it all down for you in this blog.

Learn how to calculate crypto capital gains tax in the U.S. with this step-by-step guide. Understand FIFO, LIFO, HIFO, and Specific ID methods to reduce your tax bill.

Reporting your Bitcoin transactions on your federal taxes is essential to comply with IRS regulations.

Learn how Bitcoin is taxed in the U.S., the difference between short and long-term capital gains, and how timing your sale can cut your crypto tax bill.

Learn how Bitcoin is taxed in the U.S., the difference between short and long-term capital gains, and how timing your sale can cut your crypto tax bill.

Swapping one crypto for another is a taxable event, and you will need to work out the USD value of your capital gain or loss to report on your taxes.

This guide will walk you through the steps to upload Coinbase data into Summ (formerly Crypto Tax Calculator) by three methods: an API, CSV upload or via OAuth. Uploading your transactions allows Summ to calculate your Coinbase tax obligation.

In this guide we’ll run through everything you need to know about Form 8949 and how to fill it out.

Summ is proud to support TaxScouts, a fast and effortless tax preparation tool in the United Kingdom. You can easily prepare a self-assessment tax return, and have it sorted by a certified accountant online. Follow these steps to get your tax return sorted out.

The complete guide to understanding and filing your NFT taxes in Australia.

Our senior tax advisor discusses the tax implications of trading cryptocurrency as a business in Australia, and the ATO guidelines around distinguishing between a trader or investor for crypto tax.

Everything you need to know to do your crypto taxes in the Netherlands. Read our guide now.

Our senior tax advisor discusses the accounting methods - Last In, First Out, First In First Out and others, which can be applied for cryptocurrency transactions, and the ATO tax guidelines for traders and investors.

Bitcoin is taxed as either capital gains or income tax depending on the transaction. Learn how to do your Bitcoin taxes with this guide.

A guide to liquidity pools, LP tokens and how to report them on your taxes.

The complete guide to understanding and filing your NFT taxes in the US.

The DeFi space is evolving quickly and it can be hard to keep up with all the new ideas. What can be even harder is knowing what taxes you owe depending on what protocols you use. This DeFi tax guide covers all the major protocols and how they impact your tax, it also covers the general principles laid out my the tax office to guide you when a new protocol pops up.

A step-by-step walkthrough of everything you need to know about calculating your MetaMask crypto tax.

Summ is one of the simplest tax calculators on the market but the tax process is complicated no matter where you live. This guide breaks down the step by step process for getting your crypto taxes calculated as quickly as possible.

A guide to the implications of rebase tokens such as OHM and TIME.

This guide shows you two methods for uploading your crypto tax information to TurboTax. Updated for 2025.

In Japan, cryptocurrency is viewed as property, and the profits from cryptocurrency are taxed as miscellaneous income by the NTA.

The complete guide to understanding and filing your DeFi taxes in the US.

Report your crypto taxes to the IRS with this step-by-step guide that includes important tips and ways to reduce your tax bill.

If you’ve received a CP2000 notice for crypto, you need to take immediate action. This guide explains what a CP2000 notice means for crypto investors, how to respond, and steps to avoid future issues.

This guide contains everything you need to know about how to calculate your crypto taxes for the 2024 tax year. It includes crypto tax brackets, crypto capital gains tax, how to report losses, and includes legal ways to lower your bill. Plus  how to prepare yourself for some big changes to crypto taxes in 2025.