Crypto tax records to keep

Which crypto tax records you need

Your crypto tax records are the dated and documented history of all your activity, exactly what tax authorities may ask you for. For every transaction in crypto, currency or gold, keep details like: the date and possibly the precise time, what type it is (whether buy, sell, swap, transfer, fee or a reward), how much of which asset moved, and what it was worth in your home currency right then. The way you should get those home currency values is explained in which exchange rate for tax purposes to use.

Hang onto the name of each platform or wallet, evidence of any fee paid, and the bank statement that shows money moving in or out. With crypto markets, values are unpredictable, so the number you write down on each date may become crucial when working out cost basis or reporting gains.

Records for exchanges, wallets and dealers

Not all your records come from one place. For the best documentation, keep what you can get from each source:

• Exchange exports: The complete list of your activity, as downloaded from each exchange you used.
• Wallet records: Wallet addresses and transaction IDs where you moved assets between wallets you control. These are essential for showing the assets never left your possession.
• Dealer invoices: When it comes to gold and silver, keep the invoices with details of weight, metal purity, price and any premium or VAT you paid.
• Currency receipts: For every currency exchange, the slip or record showing the rate, any fee and the transaction date.

Screenshots often miss important context and don’t provide the whole picture, stick with complete exports whenever possible. Platforms may offer ready reports; instructions are at how to get tax reports from crypto exchanges.

How long to keep tax records

How long you have to keep records comes down to your country’s rules, and sometimes whether the record is personal or relates to a business. Some countries expect you to keep your documentation for about three years after you file your return; others require businesses to keep them for ten years or more. The clock may start from the time of the transaction or from the time you submit your tax return.

Tax authorities may look back several years, especially if a gain is questioned, so it’s wise to store original purchase documents until the time limit for your last filing year that used them has passed. Because the cost basis is set at the time you first bought the asset, losing the original can cause major complications, even long after the asset is sold. Guidance about missing evidence is at what to do when you can't find your cost basis.

Frequently asked questions