What happens if I don’t report my crypto trades on my US tax return?
It’s not an option. You have a legal duty to report your crypto dealings to the IRS if you are a U.S. resident or citizen.
Like every other U.S. crypto platform, we have a legal duty to report trading activity to the IRS, too.
Please make sure you’ve supplied us with your SSN and a correct residential address because we want to prevent any risk of you running into problems later.
If you’ve got questions about how to minimize your crypto tax bill, contact our partners TaxBit here. There’s a special discount for Uphold users.