Crypto is taxed as property, so trades, swaps, staking and NFTs each land in a different bucket. Estimate all of them in one place — including the 28% collectibles cap that may apply to NFTs.
⚠ Disclaimer: Estimates only, for informational purposes. Digital-asset rules change quickly and every situation varies. Actual tax depends on your complete income picture — most traders confirm the result with a licensed CPA.
| Rule | Stocks & Securities | Crypto (Digital Assets) |
|---|---|---|
| Wash sales | IRC Section 1091 applies — 30-day window | Generally does not apply; OBBBA declined to extend Section 1091 |
| Asset class | Securities | Property, per Notice 2014-21 |
| Broker basis reporting | Form 1099-B, long established | Form 1099-DA, basis phasing in for 2026 |
| Swap for another asset | Generally a sale | Generally a sale — token-for-token counts |
| Yield | Dividends and interest | Staking and airdrops as ordinary income (Rev. Rul. 2023-14, Rev. Rul. 2019-24) |
| Collectibles cap | Rarely relevant | NFTs may hit the 28% cap under IRC Section 408(m); Notice 2023-27 is proposed |
A trader who elects mark-to-market under IRC Section 475 is treated differently again — see Mark-to-Market. Every situation varies.
The IRS has treated virtual currency as property since Notice 2014-21, not as currency. That means most disposals — selling, swapping one token for another, or spending crypto — are typically capital gain or loss events, reported on Form 8949 and Schedule D.
Generally not. IRC §1091 applies to stock and securities, and crypto is treated as property. The One Big Beautiful Bill Act declined to extend §1091 to digital assets, so for 2026 most traders can still harvest crypto losses without the 30-day wait that applies to stocks. Every situation varies, and this area draws frequent legislative attention.
Rev. Rul. 2023-14 treats staking rewards as ordinary income at fair market value once you have dominion and control over them. That amount typically also becomes your cost basis, so a later sale produces capital gain or loss measured from there.
Mining proceeds are generally ordinary income at fair market value when received. If the mining rises to the level of a trade or business, most miners also owe 15.3% self-employment tax on the net amount — and equipment and electricity are commonly deductible against it.
They can be. Under Notice 2023-27 the IRS described a look-through analysis under which an NFT tied to a collectible may be taxed at the collectibles rate, capped at 28%, rather than the usual long-term rate. That guidance is still in proposed form, so most traders treat it as a risk to plan around rather than a settled rule.
It is the broker reporting form for digital assets. Gross proceeds reporting began with 2025 transactions, and cost basis reporting is phasing in for 2026. Most traders find broker figures still need reconciling against their own records, particularly for tokens moved between wallets.
Rev. Rul. 2019-24 treats an airdrop following a hard fork as ordinary income at fair market value when the taxpayer gains dominion and control. Most traders record the value at receipt, since that figure typically becomes basis for a later disposal.
Capital losses typically offset capital gains first. Beyond that, most individual filers can deduct up to $3,000 of net capital loss against ordinary income each year and carry the rest forward. A trader who has elected mark-to-market under §475 is generally treated differently.
Sources: IRS Digital Assets, Notice 2014-21, Rev. Rul. 2019-24, Rev. Rul. 2023-14, Notice 2023-27. Informational only — not personalized tax advice.
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