Cryptocurrency exchanges around the world are starting to report more and more information to government agencies. In this guide, we analyze Exodus’s tax reporting policies within United States. We’ll also break down a simple way to report your Exodus taxes in minutes.
Does Exodus report to the Internal Revenue Service (IRS)?
Exodus does not require customer information to get started. As a result, it’s reasonable to assume that Exodus does not report to the IRS.
Can the IRS see my Exodus wallet?
It's important to remember that transactions on blockchains like Ethereum are publicly visible and permanent. The IRS works with contractors like Chainalysis to match ‘anonymous wallets’ to known investors.
Do I have to pay taxes on my Exodus transactions?
Yes. In the United States, your transactions on Exodus and other platforms are subject to income and capital gains tax.
If you’ve earned or disposed of crypto (ex. Sold or traded away cryptocurrency) during the year, you’ll have a tax liability to report to the IRS.
For more information, check out our complete guide to cryptocurrency taxes.
Is Exodus legal?
Software wallets like Exodus are legal in the United States.
How do I avoid Exodus taxes?
Remember, there is no way to legally evade your taxes in the United States. However, tools like tax-loss harvesting and cryptocurrency tax software can help you save thousands of dollars legally.
For more information, check out our guide on how to avoid crypto taxes.
Get an Exodus tax report today
Looking for a simple way to report your Exodus taxes? With CoinLedger, you can import your Exodus transactions and auto-generate a complete gains, losses, and income tax report in minutes.
CoinLedger integrates with Exodus and dozens of other wallets, blockchains, and cryptocurrency exchanges to automate the entire crypto tax reporting process.
You can get started with a free preview report today.
