Crypto Tax Reporting Guide
By Sage · Published · Updated
Help understand and document cryptocurrency transactions for tax purposes.
Tags: finance, crypto, tax
Prompt template
## Introduction Get guidance on documenting and reporting cryptocurrency transactions for tax compliance. ## Your Situation - Country of Tax Residence: [text: e.g., USA, UK, Australia, Canada] - Types of Crypto Activity: [multi: Buying & holding, Selling for fiat, Crypto-to-crypto trades, DeFi yield/staking, NFT purchases or sales, Mining income, Airdrops, Gifting crypto] - Volume of Transactions (approx): [dropdown: Under 50, 50-200, 200-1000, 1000+] ## Tax Method Preference - Cost Basis Method: [dropdown: FIFO (First In First Out), LIFO (Last In First Out), HIFO (Highest Cost First), Specific Identification, Not sure — explain options] - Tax year reporting period: [text: e.g., Jan 1 – Dec 31 2024] ## Output Needed [multi: Transaction record template, Capital gains calculation guide, Income categorisation guide, Tax form guidance (e.g., IRS Form 8949), Tips for legitimate deductions, Record-keeping best practices]