Do you have to report your cryptocurrency transactions to the IRS?
If you’re a resident or citizen of the United States, any profit (or loss) you make from cryptocurrencies must be reported on your annual tax return.
Like all crypto platforms operating in the United States, Uphold has a legal duty to collect Social Security Numbers and file an annual report to the IRS on crypto transactions by U.S. citizens or residents.
If you’re no longer a U.S. resident or citizen, please contact our support team who’ll be happy to help you change your status. A simple change of address (supported by documentation) can mean you escape the reporting requirement. Keeping your address up to date is important, especially for foreign nationals working in the U.S. temporarily.