Crypto Tax & Recordkeeping Basics

About this course

Crypto taxes are mechanical, jurisdiction-specific, and unforgiving. This course is the operational guide — what counts as a taxable event, which cost-basis method applies where, what records to capture in the moment (because reconstructing them in April is nearly impossible), and how the US, UK, and EU treat the most common patterns (swaps, staking rewards, airdrops, hard forks, NFT mints and royalties, DeFi yield, lending interest, and wrapped tokens). Seven lessons of about 20 minutes each. Strict rule: this is reference material, not tax advice. Every lesson points readers to a qualified tax professional in their jurisdiction for decisions, and the editorial frame is the conceptual mechanics common across jurisdictions plus the specific rules in the three regions with the largest English-speaking crypto userbases.

What you'll be able to do

• Distinguish taxable from non-taxable events at the conceptual level so you recognise tax obligations as they arise.
• Apply the major cost-basis methods (FIFO, HIFO, specific identification, average cost, Section 104 pooling) and understand where each is permitted.
• Capture the right records in real time — txhash, fiat values, timestamps, counterparties — so April reconstruction isn't a disaster.
• Identify the US (IRS), UK (HMRC), and EU (DAC8) frameworks at the working level and know what each requires of you.
• Recognise the 'hidden' taxable events most users miss: airdrops, hard forks, DeFi swaps, NFT royalties, staking rewards, lending interest, wrapped-token mints.
• Use crypto tax software competently without becoming dependent on its judgement.
• Know when you must consult a qualified tax professional and what to bring them.

Lessons

1. 1

   Lesson 1 — Taxable vs non-taxable events: the conceptual framework

   ~20 min

   Most jurisdictions treat crypto similarly at the conceptual level: dispositions trigger tax; movements you control don't. Today: the framework that holds across regions.

2. 2

   Lesson 2 — Cost-basis methods: FIFO, HIFO, specific ID, and Section 104

   ~20 min

   The same trade can produce very different gains depending on which lot you say you sold. Today: the methods, their trade-offs, and which jurisdictions permit which.

3. 3

   Lesson 3 — Recordkeeping: what to capture in real time

   ~20 min

   Reconstructing crypto tax records in April is nearly impossible. Today: the records to capture at the moment of transaction so April becomes a copy job.

4. 4

   Lesson 4 — The US framework: IRS, 1099-DA, Form 8949

   ~22 min

   The US treats crypto as property and as of 2025 has a finalised 1099-DA broker reporting rule. Today: the working framework for US taxpayers.

5. 5

   Lesson 5 — The UK framework: HMRC Cryptoassets Manual + Section 104

   ~20 min

   HMRC has built a comprehensive Cryptoassets Manual with detailed treatment for nearly every common scenario. Today: the working framework for UK taxpayers.

6. 6

   Lesson 6 — The EU framework: DAC8, MiCA, and member-state variation

   ~20 min

   DAC8 standardises EU-wide reporting from 2026; MiCA defines the regulatory frame. But CGT rules remain national. Today: how the layers fit.

7. 7

   Lesson 7 — Hidden taxable events: airdrops, hard forks, DeFi, NFTs, wrapped tokens

   ~20 min

   The events most users miss. Today: a checklist of the high-frequency hidden taxable events and how to recognise each.

Final quiz

When you've worked through every lesson, pass the final quiz to mark the course complete. You can retry any number of times.