Does Uphold Report to the IRS?

Uphold is a multi-asset platform where you can buy, sell, and move crypto. Depending on your location and the products you use, features can vary.

Yes. If you are a US customer, Uphold may report certain activity to the IRS through required information returns, mainly the 1099 series, when the reporting rules apply to your activity for that tax year.

Uphold’s tax reporting policies

Uphold’s US reporting generally falls into two buckets:

• Digital asset disposals (selling, swapping, or otherwise disposing of crypto) that can be reflected on Form 1099-DA for covered activity.

• Certain rewards (like staking and some distributions) that can be reflected on Form 1099-MISC when you meet the stated threshold.

Which transactions are reported to the IRS?

Platforms report what they can see, in the format the IRS requires. That often means proceeds and income totals, not your full tax story.

If you moved assets in from another exchange, bridged, or self-custodied, your crypto cost basis may be outside Uphold and still needs to be reconciled.

• Selling crypto for USD

• Swapping crypto for another crypto

• Disposing of crypto through other “sell-like” actions on the platform

• Receiving certain rewards

Even when a platform reports something, your return still needs your own math: proceeds minus cost basis for gains, and the correct USD value for income when you received it.

Here’s how to treat Uphold tax forms you may receive, at a glance:

Open your account and go to your activity or transactions view. Export your full transaction history for the entire tax year as a CSV. Download any available tax forms (like 1099-DA or 1099-MISC) from the tax area. Save the files with a simple naming system.

This export is the backbone of an accurate return because it shows fees, timestamps, and transfers to help you determine your crypto cost basis and proceeds.

Yes. If you are a US taxpayer, taxes depend on what you did, not where you did it. Disposals can create capital gains or losses, and certain rewards can create income.

• Sell, swap, or spend: you typically have a capital gain or loss.

• Receive rewards: you typically have income first, then a second gain or loss if you later dispose of those tokens.

The IRS uses information returns to compare third-party reporting with what taxpayers file. If the numbers do not line up, the IRS can send notices or ask for clarification. You may also have to deal with a crypto tax audit.

Keep your own accurate records and reconcile your forms to your exports reduces the odds of issues down the line. Use crypto tax software like TokenTax to simplify your crypto tax reporting.

Here is a simple workflow that holds up well, even if you use multiple wallets.

1. Collect your Uphold tax documents: Download any 1099 forms you were issued.

2. Export your full Uphold transaction history: You want the full-year CSV, including fees and transfers.

3. Rebuild cost basis for anything that started elsewhere: If you bought on another exchange or moved assets in from self-custody, pull the original acquisition dates and costs from the source. This is where people overstate gains.

4. Reconcile transfers: Label self-transfers so they do not get treated like taxable disposals in your workflow.

5. Produce your tax totals and file: Use the completed dataset to prepare disposals and income reporting.

TokenTax can help you consolidate exchange and wallet activity, reconcile transfers, and generate the forms and summaries you need for filing.