Every disposal on Form 8949, totals on Schedule D, income on Schedule 1, lots tracked per wallet. Estimate the federal bill here, then let the app do it from your real transactions.
Import and organise your transactions free. Pay for your 2025 tax report, including figures and forms.
Ordinary income at fair market value the day each reward arrived (Rev. Rul. 2023-14), reported on Schedule 1. That value becomes its cost basis.
Income when you gain control of them (Rev. Rul. 2019-24), each priced on its own day, even if you never sold.
Nets against gains first, short-term before long-term here. If losses still exceed gains, $3,000 offsets other income and the rest rolls on.
If the IRS treats the NFT as a collectible (art, for instance), the long-term rate is up to 28% instead of 20%. Decided per asset.
Not a sale, but every exchange export shows the withdrawal as one, and your 1099-DA may show it with no basis. Each transfer has to be matched to its arrival.
Since January 2025 cost basis is tracked per wallet (Rev. Proc. 2024-28). Which lot you sold depends on where you sold it, per transaction.
Federal estimate. Ignores state tax, the 3.8% NIIT and the $3,000 net-loss deduction. Brackets from the tables Moonscape files with.
There is no allowance and no de minimis. What changes the bill is how long you held, your other income, and how well your lots are matched.
Held one year or less. Taxed as ordinary income, 10% to 37% depending on your bracket.
Held more than one year. 0% up to $48,350 taxable income (single), 15% up to $533,400, 20% above. High earners add 3.8% NIIT.
Unlike the UK there is no tax-free amount. Every disposal goes on Form 8949, even a $5 swap.
Net capital losses offset gains, then up to $3,000 of ordinary income a year. The rest carries forward indefinitely.
From 2025 lots are tracked per wallet or account, not one universal pool. FIFO by default; specific ID if you can identify the units.
Staking, mining, airdrops, referral bonuses and interest are ordinary income at fair value when received. They go on Schedule 1.
| Form | What it reports | Moonscape report |
|---|---|---|
| Form 8949Sales and other dispositions of capital assets | Every disposal, one row each: date acquired, date sold, proceeds, cost basis, gain or loss. Split short-term / long-term. | Form 8949, IRS replica ready to attach, plus the 8949 detail with every lot matched. |
| Schedule DCapital gains and losses | Totals from Form 8949, net short-term and long-term gain, the $3,000 net-loss cap and carryforward. Flows to Form 1040 line 7. | Schedule D, IRS replica with lines 1–16 filled from your 8949 totals. |
| Form 1040Digital assets question · line 7 | The main return. Everyone answers the digital-assets question; "Yes" means 8949 and Schedule D are required. | Form 1040 helper showing what goes in line 7 and the digital-assets box. |
| Schedule 1Additional income · line 8z | Staking rewards, airdrops, interest and other crypto income at fair market value when received. | Income Statement: every reward priced on the day, totalled for Schedule 1 other income. |
| Form 1099-DAFrom your broker · tax year 2025 on | What US exchanges report to the IRS: gross proceeds for 2025, cost basis from 2026. Wallets and DeFi are not covered, so you still reconcile. | Match Moonscape’s per-wallet lots against your 1099-DA and explain any difference on 8949. |
Tax year 2025 (calendar year)
Brokers send Form 1099-DA and 1099-B for the previous year
File Form 1040 and pay any tax owed for 2025
Extended filing deadline (Form 4868). Payment is still due April 15.
Estimated payments (1040-ES) if you expect to owe $1,000 or more
The IRS hub page
Crypto is property
Hard forks and airdrops
Staking rewards are income when received
Per-wallet cost basis from 2025
Investment income and expenses
Form 8949. IRS replica with every disposal, short- and long-term parts, ready to attach.
Schedule D. IRS replica totalling 8949, net loss cap and carryforward.
Form 1040 helper. Line 7 figure and the digital-assets answer.
Income Statement. Staking, airdrops and rewards priced at receipt for Schedule 1.
Matched lots. Which purchase each sale was matched to, per wallet, with the method used.
Connect read-only, let the engine match every lot, review the working, export the forms.
Link exchanges via API, upload CSVs, add wallet addresses. Coinbase, Kraken, Gemini and 300+ more.
Trades, transfers, staking and DeFi imported and categorised. Transfers between your own wallets matched so they are not taxed as sales.
See each sale matched to its purchase, per wallet, with the method used and the resulting gain.
Download Form 8949, Schedule D, the 1040 helper and your income statement. Hand them to your CPA or file them yourself.
Yes. Swapping ETH for SOL, or any token for a stablecoin, is a disposal. You report the gain or loss on Form 8949 in dollars, even though no cash changed hands.
Held one year or less is short-term and taxed at your ordinary income rate. Held more than one year is long-term and taxed at 0%, 15% or 20% depending on income.
No. Every disposal is reportable. Long-term gains do have a 0% bracket (up to $48,350 of taxable income for single filers in 2025) but the trades still go on Form 8949.
Not under current law. Crypto is property, not a security, so the 30-day wash sale rule in §1091 does not apply. Congress has proposed closing this several times.
From tax year 2025 US brokers report your gross proceeds to the IRS, and from 2026 cost basis too. Wallets, DeFi and foreign exchanges are not covered, so your own records still decide the gain.
From January 1, 2025 the IRS requires lots to be tracked per wallet or account instead of one universal pool (Rev. Proc. 2024-28). Moonscape tracks lots per wallet by default.
Yes. Rev. Rul. 2023-14 says rewards are ordinary income at fair market value when you gain control of them. That value becomes your cost basis when you later sell.
FIFO is the default. Specific identification (including HIFO or LIFO) is allowed if you can identify the units at the time of sale and keep records. Moonscape supports FIFO, LIFO and HIFO.
UK taxpayer? HMRC hub · Form 8949 and Schedule D explained · Wash sales and crypto
Form 8949 and Schedule D, generated from your real transactions. Import and organise your transactions free. Pay for your tax report, including your tax figures and forms.