What crypto records should you keep for the IRS?

Keep records behind the numbers

Save acquisitions, receipts, disposals and the USD valuations used. A wallet address proves neither the owner’s identity nor the price originally paid. A blockchain transaction can be one piece of evidence without being the entire tax record.

Check a notice before sending anything

Use the official contact information and process shown on a genuine IRS notice. A request to register crypto on a portal or reveal a wallet recovery phrase is not a normal tax-record requirement. The IRS warns about fraudulent digital-assets compliance letters.

Create a reproducible evidence packet

Keep source exports, matching transfers, basis workpapers and the final report in one versioned folder. Note which records were unavailable and how each uncertainty was resolved.

• Account, wallet and transaction identifiers.
• Units, dates and USD valuation sources.
• Purchase receipts, rewards and fees.
• Broker statements and explanations of discrepancies.

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