How do I report my Binance.US taxes?

All taxable events on Binance.US are subject to U.S. crypto tax laws.

• Capital gains tax: Applies when you sell, trade, or spend crypto. Each disposal is calculated against your original purchase price (cost basis).

• Income tax: Applies to rewards from staking, referrals, or airdrops. The fair market value of the crypto at the time you receive it is taxable income.

Using CoinTracker ensures you capture both types of activity accurately and avoid underreporting.

Yes. The IRS classifies cryptocurrency as property, meaning your Binance.US transactions can trigger taxes.

You only owe taxes when a taxable event occurs. Such as selling, trading, or earning crypto. Holding crypto alone is not taxable.

CoinTracker tracks your realized gains, losses, and income automatically so you can file with confidence.

Yes, Binance.US provides users with downloadable tax statements and IRS forms when applicable.

For example, users who earn over $600 in staking or reward income typically receive Form 1099-MISC.

All users can download complete transaction reports from the Tax Statements section.

• Log in to your Binance.US account.

• Go to Dashboard → Tax Statements.

• Select the tax year you need.

• Download available forms (e.g., 1099-MISC) or export CSV reports.

• Upload or sync this data with CoinTracker to generate your full tax summary and forms (e.g., Form 8949, Schedule D).

Binance.US issues Form 1099-MISC to eligible users who earned $600 or more in crypto income (staking, rewards, referrals) during the tax year.

Forms are made available by January 31 and sent to both users and the IRS.

Under updated broker reporting regulations, Binance.US will issue Form 1099-B to users for crypto sales and trades starting with the 2025 tax year.

This form will detail proceeds, cost basis, and gain/loss information for each transaction and is due by January 31.

Beginning with the 2025 tax year, Binance.US will issue Form 1099-DA, the new standardized form for reporting digital asset transactions to the IRS.

The 1099-DA replaces legacy reporting forms for most crypto activity, with distribution by January 31 annually.

Binance.US does not issue Form 1099-K.

This form, previously used by payment processors, has been replaced in the digital asset space by Form 1099-DA and 1099-B for reportable crypto activity starting in 2025.

Your Binance.US reports may not include off-platform transactions, such as:

• Transfers to other wallets or exchanges

• DeFi or NFT trades

• External staking or income events

CoinTracker unifies all your crypto activity — including Binance.US, Coinbase, MetaMask, and more — so your tax reports are complete and accurate.

No, Binance.US does not withhold or deduct taxes on your behalf.

You're responsible for calculating and reporting your gains, losses, and income to the IRS.

CoinTracker automates this process by calculating taxable events and generating IRS-ready forms.

Yes. Binance.US is a U.S.-regulated exchange and reports certain user activity directly to the IRS via official forms (e.g., 1099-MISC, 1099-B, and 1099-DA).

Reporting generally includes your on-platform activity, so you should still reconcile your full portfolio using CoinTracker.

Yes. You can download end-of-year account statements, official tax forms, and CSV exports directly from the Binance.US Tax Statements section.

Integrating this data with CoinTracker helps ensure that your filings reflect your complete crypto portfolio.