Tax information and forms
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How is crypto taxed?
The IRS taxes cryptocurrency much like property or other investments such as stocks or mutual funds. You may owe taxes when you sell or transfer your crypto for a profit or when you receive crypto. Check with your tax advisor to determine how crypto transactions could affect your taxes. Fidelity does not provide legal or tax advice.
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What is the tax treatment of capital gains for crypto?
The IRS taxes cryptocurrency similarly to other investments. Changes in value from when you received or purchased your crypto to when you send or sell your crypto are recorded as gains or losses in your Gain/Loss Summary. Capital gains are taxed at the applicable rate depending on several factors, including your holding period. Check with your tax advisor to determine how your crypto transactions could affect your taxes. Fidelity does not provide legal or tax advice.
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When is the cutoff for crypto trades to be recorded for the current tax year?
Your crypto trades must execute by 11:59 p.m. ET on December 31 to be recorded for the current tax year.
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Can I decrease my crypto tax burden by donating my crypto?
You may be able to take a deduction based on the fair market value of your crypto at the time of donations. Check with your tax advisor to determine how your crypto transactions could affect your taxes. Fidelity does not provide legal or tax advice.
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What tax forms are provided for my Fidelity Crypto® accounts?
Fidelity Digital Assets® won’t provide tax forms related to any activity in your Fidelity Crypto® account prior to tax year 2025. You can view your account activity on Fidelity.com and on the Fidelity Investments® app. If you had any crypto sales during the tax year, Fidelity Digital Assets® will provide a downloadable Gain/Loss Summary in February of the following calendar year. Crypto transactions in tax year 2025 and later are reported to the IRS on Form 1099-DA for each account with activity. Check with your tax advisor to determine how your crypto transactions could affect your taxes. Fidelity does not provide legal or tax advice.
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Does the IRS receive a copy of the Gain/Loss Summary for my Fidelity Crypto® account?
Fidelity Digital Assets® doesn’t provide a copy of your Fidelity Crypto® Gain/Loss Summary to the IRS. The summary is for your own recordkeeping and tax-preparation purposes. Crypto transactions in tax year 2025 and later are reported to the IRS on Form 1099-DA for each account with activity. Check with your tax advisor to determine how your crypto transactions could affect your taxes. Fidelity does not provide legal or tax advice.
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Can I upload my Gain/Loss Summary to TurboTax® from Fidelity Crypto® accounts?
You can upload Fidelity Crypto® account Gain/Loss Summary CSV files to TurboTax®. Access your Gain/Loss Summary in your Statements on Fidelity.com. If you have questions about uploading your CSV file, contact TurboTax® for assistance.
Fidelity Digital Assets® associates can be reached 24 hours a day, 7 days a week, by chat or by calling 800-343-3548 and requesting help with a "crypto account issue." If your request can’t be resolved at the time of your call, you can typically expect follow-up within 2 business days. Additional time may be needed for research or further review.
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Fidelity Crypto® is offered by Fidelity Digital Assets®.
Investing involves risk, including risk of total loss.
Crypto as an asset class is highly volatile, can become illiquid at any time, and is for investors with a high risk tolerance. Crypto may also be more susceptible to market manipulation than securities. Crypto is not insured by the Federal Deposit Insurance Corporation or the Securities Investor Protection Corporation. Investors in crypto do not benefit from the same regulatory protections applicable to registered securities.
Fidelity Crypto® accounts and custody and trading of crypto in such accounts are provided by Fidelity Digital Asset Services, LLC, which is chartered as a limited purpose trust company by the New York State Department of Financial Services to engage in virtual currency business (NMLS ID 1773897).
Brokerage services in support of securities trading are provided by Fidelity Brokerage Services LLC (“FBS”), and related custody services are provided by National Financial Services LLC (“NFS”), each a registered broker-dealer and member NYSE and SIPC.
Neither FBS nor NFS offer crypto as a direct investment nor provide trading or custody services for such assets.
Fidelity Crypto and Fidelity Digital Assets are registered service marks of FMR LLC.
Crypto prices and market reference data that Fidelity Digital Asset Services, LLC makes available to you are compiled and aggregated by a third party (Coin Metrics) based on criteria set by Fidelity Digital Asset Services, LLC. Fidelity Digital Asset Services, LLC does not represent, warrant or guarantee that pricing and other market information, or value estimates based on that information, is accurate, complete, timely or suitable for use. Prices of crypto that are displayed to you are for reference only and should not be relied upon as the price for any trade; execution prices for your trades may be different than reference prices and estimates displayed to you. Crypto pricing and other market information may appear and be used with a time delay, and Fidelity Digital Asset Services, LLC will have no liability to you for the decisions you make based on market reference data made available by Fidelity Digital Asset Services, LLC. Coin Metrics is a trademark Coin Metrics Inc. Copyright © Coin Metrics, 2024.
The Fidelity Crypto® background pattern indicates when you're interacting with account or market information offered by Fidelity Digital Assets®.
Fidelity Charitable is the brand name for Fidelity Investments® Charitable Gift Fund, an independent public charity with a donor-advised fund program. Various Fidelity companies provide services to Fidelity Charitable. The Fidelity Charitable name and logo, and Fidelity are registered service marks of FMR LLC, used by Fidelity Charitable under license.
The third-party trademarks and service marks appearing herein are the property of their respective owners.
The third parties mentioned herein and Fidelity Investments are independent entities and are not legally affiliated.
Fidelity does not provide legal or tax advice. The information herein is general in nature and should not be considered legal or tax advice. Consult an attorney or tax professional regarding your specific situation.
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