Crypto Taxes for U.S. Businesses: What to Track in 2026

A business that accepts crypto from customers, holds a treasury position in bitcoin, or pays a contractor in stablecoins has a tax reporting job that most bookkeeping setups were never built for. Every disposal is a taxable event, every wallet needs its own basis trail, and starting with 2025 activity brokers began sending the IRS a new information return. This guide walks through what that means in plain terms and what to set up in your books before year end.

The starting point: crypto is property, not currency

For federal tax purposes the IRS treats virtual currency and other digital assets as property. That single rule drives everything else. When your business sells, trades or spends a token, it has disposed of property, and it recognizes a gain or loss equal to the amount realized minus its basis in that unit. The IRS explains the framework on its digital assets page.

A few everyday situations that count as disposals:

• Selling tokens for dollars on an exchange.
• Swapping one token for another, including stablecoin conversions.
• Paying a vendor, employee or contractor in crypto.
• Using tokens to cover network or platform fees in some cases.

Receiving crypto as payment for goods or services is ordinary income at fair market value on the date received. That value then becomes your basis in those units for the next disposal.

Basis tracking is now wallet by wallet

The biggest operational change for 2025 forward is that basis has to be tracked separately for each wallet or account. You can no longer treat all of a company’s holdings across exchanges and self custody wallets as one pool and pick lots from anywhere. If the business holds assets in three places, the books need three separate lot histories.

In practice that means your records for each unit should show:

• The date acquired and the wallet or account it sits in.
• The cost or fair market value at acquisition, including fees.
• Any transfers between your own wallets, which are not taxable but must carry basis with them.
• The date, amount and dollar value of each disposal.

Good crypto accounting software helps, but it only works if every wallet is connected and internal transfers are matched. Unmatched transfers are the most common reason a gain report comes out wrong.

Form 1099-DA: what brokers now report

Custodial platforms and other brokers now file Form 1099-DA. The rollout comes in two stages:

• Transactions on or after January 1, 2025: brokers report gross proceeds. Those statements arrived in early 2026.
• Transactions on or after January 1, 2026: brokers also report cost basis for covered assets. Those statements arrive in early 2027.

Because the first round of forms shows proceeds without basis, a business that relies on the form alone could look like it had a much larger gain than it did. Your own records fill that gap. The IRS overview is at Understanding your Form 1099-DA.

Where the numbers land on the return

How the activity is reported depends on the type of entity and why the business holds the asset. Capital transactions generally flow through Form 8949 and Schedule D. Crypto received as revenue shows up as gross receipts on the business return. If the company holds tokens as inventory for resale, the treatment can differ, which is a good reason to confirm the classification with your CPA before filing.

Staking and reward income

Under Revenue Ruling 2023-14, the IRS position is that staking rewards are taxable income when the taxpayer gains control over them, valued at fair market value at that time. That position has been challenged in court, and the outcome is not settled. For now, the safe approach is to record rewards as income when received, keep the valuation source, and set that value as basis for the new units.

Foreign accounts and FBAR

Whether an offshore account that holds only crypto must be reported on an FBAR has not been definitively resolved. Accounts that hold crypto alongside traditional assets may already fall in scope. If your business uses a foreign exchange, keep the account details and maximum balances handy and review the FinCEN FBAR guidance with your advisor each year.

A year end checklist for your books

1. List every exchange account and wallet the business controls, including ones that are no longer active.
2. Connect each one to your crypto tracking tool and match all internal transfers.
3. Confirm basis method and lot detail per wallet.
4. Book crypto revenue at the dollar value on the date received.
5. Record staking and reward income with its valuation source.
6. Reconcile gains and losses against any Form 1099-DA you receive.
7. Save exports from each platform in case an account closes later.

If your general ledger and your crypto records live in separate worlds today, our bookkeeping services can bring them together, and our tax planning work can help you time disposals with the full year in view.

Frequently asked questions

Is moving crypto between my own business wallets taxable?

No. A transfer between accounts the business controls is not a disposal. The basis and acquisition date should move with the units so the later sale is reported correctly.

What if my Form 1099-DA shows no basis?

For 2025 transactions that is expected, because brokers only reported gross proceeds. You report basis from your own records on Form 8949.

Do I owe tax when a customer pays me in crypto?

Yes. The fair market value on the day you receive it is business income, just as if the customer had paid in dollars.

Are stablecoin swaps taxable?

Generally yes. Exchanging one digital asset for another is a disposal, even when both are pegged to the dollar. The gain or loss is often small, but it still needs to be reported.

This article is general information, not tax advice for your situation. Rules for digital assets are still developing, so talk with a CPA before you file.

This article is general information, not tax advice for your situation. Deadlines and rules can change; confirm with a tax professional before acting.