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Outbyte Driver Updater FREEScan for outdated or missing drivers - takes under a minuteDriver Scan →Outbyte PC Repair FREEClear out junk files and repair common Windows errorsFree Scan →Keep enough records to support every crypto-related tax figure: what you acquired or received, when and how much, its value and cost basis, and what you later sold, exchanged, transferred, or otherwise disposed of. How long to retain those records depends on where you file. This guide covers U.S. federal and Canadian guidance; it is not a global rule or state-, provincial-, or individual tax advice.
What crypto tax records should you keep?
Keep transaction-level evidence that lets you reconstruct both the event and the amount reported. The IRS says taxpayers should maintain records sufficient to establish positions on federal income tax returns, including records of receipts, sales, exchanges, dispositions or transfers, and the fair market value of digital assets. Its digital-asset FAQ A95 was added December 15, 2025: IRS digital-asset transactions FAQ.
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For acquisitions and receipts
- Date and time, asset type, and number of units.
- How you acquired or received the asset, such as a purchase, payment, reward, mining, or staking event.
- Cost or fair market value at acquisition, in the currency relevant to your tax filing, plus applicable fees.
- Supporting exchange statements, wallet records, invoices, receipts, or ledger entries.
For sales, exchanges, and other dispositions
- Date and time, asset type, and units disposed of.
- Proceeds or the value of money or property received, including the fair market value used for reporting.
- Fees and the records and method used to determine the disposed units’ basis.
- Transaction confirmations and related exchange or wallet records.
The IRS identifies asset type, date and time, units, U.S.-dollar fair market value, and basis as relevant calculation inputs. For substantiating specific units, its FAQ lists acquisition and disposition dates and times, basis and fair market value at acquisition, fair market value at disposition, and money or property received: IRS digital-asset transactions FAQ.
For transfers and income events
Keep records of transfers between wallets you control, with enough information to show ownership and explain the movement. A transfer record helps distinguish a movement of your own assets from a sale or other taxable event; do not assume an exchange export alone explains the full transaction history. Also preserve the dollar valuation and supporting records for income events such as rewards, mining, staking, or payment for services. The tax treatment depends on the event and jurisdiction.
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Useful supporting files include exchange statements, regular wallet or platform exports, on-chain transaction references, invoices, receipts, and copies of filed returns where they substantiate a reported figure. The IRS record categories are described in FAQ A95 and its digital-assets guidance.
How long should you keep crypto tax records?
There is no single crypto-specific retention period that applies everywhere. The U.S. and Canadian rules below are national guidance; other countries, and state or provincial rules, may differ.
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| Jurisdiction and authority | Retention rule | How the clock works | Important conditions |
|---|---|---|---|
| United States, federal IRS | Generally three years for ordinary return-supporting records; six years for specified substantial income omissions; no limit for a fraudulent return or failure to file a valid return. | The ordinary assessment period is generally three years from filing. Property basis records are kept until the limitations period expires for the year of taxable disposition. | The six-year period applies to certain income omissions exceeding 25% of gross income or certain foreign financial asset income omissions above $5,000. See IRS Topic No. 305. |
| Canada, Canada Revenue Agency (CRA) | At least six years. | Count from the end of the last taxation year to which the records relate. | CRA advises regular exports of custodial platform histories. See its cryptocurrency guide. |
U.S. federal rules: the three-year period is not a crypto-record cutoff
The IRS generally expects records supporting income, deductions, or credits to be kept until the limitations period for the return expires. Its current Tax Topic 305 describes an ordinary three-year assessment period, measured from filing, with a six-year period for certain substantial omissions and no limitation when a fraudulent return is filed or no valid return is filed: IRS Topic No. 305, Recordkeeping.
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Basis records have a different practical anchor: the IRS says to keep property records until the limitations period expires for the year in which the property is disposed of in a taxable disposition. A purchase-year return’s normal three-year period therefore does not, by itself, tell you when to discard basis evidence for an asset you still hold. Retain the acquisition details and supporting evidence so you can substantiate basis when the asset is later disposed of and during the applicable period for that disposition year.
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Canadian rules: count six years from the end of the related tax year
CRA says crypto-asset books and records must be retained for at least six years from the end of the last taxation year to which they relate. Its cryptocurrency guide recommends regularly exporting custodial platform activity histories. An export can protect your records if a platform closes, stops serving Canada, or you lose account access.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Practical ways to make the record trail usable
- Keep original exports and transaction confirmations alongside any organized spreadsheet or tax-software output.
- Preserve timestamps, asset units, valuation currency, fees, and transaction references; omitting any of these can make a later calculation difficult to reconstruct.
- Link transfers between your own wallets with records showing the sending and receiving addresses or accounts and the transaction reference.
- Keep the valuation source and calculation method you used for income, proceeds, and basis so the reported figure can be explained.
- Check the retention rule for the specific country and tax year involved. Amended returns, business records, missing or fraudulent returns, and other special circumstances can change the practical retention answer.
The cited material establishes U.S. federal and Canadian guidance only. Readers filing elsewhere should consult their national tax authority; U.S. state and Canadian provincial requirements may also affect recordkeeping.
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