Taxable crypto transactions
- Crypto sale.
- You generally report sales on Form 8949, using your adjusted basis, what you paid plus purchase fees, and your sale proceeds after transaction costs.
- Crypto swap or purchase.
- You have a gain or loss when you trade one coin for another or buy something with it, because the IRS treats both as a sale of the coin.
- Staking reward.
- You report staking rewards, the coins you earn for locking up coins to run a blockchain, as income valued on the day you can sell them.
- Oldest coins first.
- From 2025, the IRS treats your oldest coins in each wallet or account as sold first unless you name the units by the time you sell.
Form 1099-DA reporting
Brokers, the platforms holding your coins, report gross proceeds on Form 1099-DA from 2025, and basis only for certain sales from 2026. For coins bought before 2026 or moved in from another wallet, your broker can leave basis blank, and you still calculate basis before you file.
Services from our crypto tax accountants
Crypto tax loss harvesting
We review your coins before December 31 for losses you could take against this year's gains.
Amended and late returns
We prepare amended or late returns for each year you left crypto off, after we rebuild your trades for that year.
IRS Letter 6173
We reply to Letter 6173, in which the IRS asks you to explain your crypto reporting, by the date on the letter, even if your return was correct.
Estimated payments on crypto gains
We work out the quarterly estimated payment when you sell a large position midyear.
Business crypto payments
We record coins your business takes from customers or pays to contractors at their dollar value on the day you receive or pay them.
Maris & Associates CPAs reviews
"I was years behind on my tax returns, they helped me work my way through all the needed documents."
Tom MillerGoogle review "Helped with a problem with a prior tax return in a timely and efficient manner for a good price."
Mary HoranGoogle review "Very helpful and spent as much time as I needed to understand both the process and options."
Craig LadiserGoogle review
IRS Letter 6174
You need not reply to Letter 6174, the IRS notice on crypto you may not have reported, but you should amend or file each year you left it off.
Washington capital gains tax on crypto
The Washington Department of Revenue taxes gains on crypto you held more than one year if the state is your domicile, your permanent home, on the day you sell.
For 2025, you owe it on gains above the $278,000 standard deduction: 7 percent on the first $1 million of those taxable gains and 9.9 percent above that. You file it by the due date of your federal return.
Example for one seller domiciled in Washington with $1.5 million of long-term crypto gains in 2025 and no other long-term gains:
| 2025 example | Amount |
|---|---|
| Long-term crypto gain | $1,500,000 |
| Less the 2025 standard deduction | $278,000 |
| Taxable gains | $1,222,000 |
| 7 percent on the first $1,000,000 | $70,000 |
| 9.9 percent on the next $222,000 | $21,978 |
| Washington capital gains tax | $91,978 |
Crypto tax accountant cost
Our crypto tax accountants base your fee on:
Wallets and exchanges. We collect and reconcile an export from each one.
Transaction count. We spend less time on a few sales than on thousands of trades.
Years to rebuild. We price each year you amend or file late.
Staking rewards. We date and value each reward separately.
Missing exports. We take longer to rebuild a year with no exchange exports.
A single year with one exchange and a few sales is the lightest case.
These are the factors, not a quote. You see the fee in writing before we start.
Tax planning and forensic accounting
Crypto accountant near me
Visit our Everett office or call (425) 338-0414, and our team returns calls within one business day. After that first call, you send exchange exports, wallet addresses and any Form 1099-DA or 1099-B you received.
Book a crypto tax consultation