Apple users need to understand how cryptocurrency affects their taxes in 2025. Let me break down what makes your digital assets taxable and help you work through the rules.
Crypto as property: IRS classification
The IRS doesn’t see cryptocurrency as regular money. Since 2014, the agency has labeled all digital assets as property. This classification is vital because every crypto transaction could affect your taxes, just like in stock or real estate sales. Your crypto activities fall under standard property tax rules. When you sell cryptocurrency, you must report any capital gain or loss. The math is simple – just calculate the difference between what you paid (adjusted basis) and what you got back.
Taxable vs non-taxable events
Your crypto activities don’t always create tax obligations. Here’s the breakdown:
Taxable events:
- Selling crypto to get cash triggers capital gains or losses
- Swapping one crypto for another (Bitcoin for Ethereum)
- Buying things with crypto
- Money you make from mining, staking, or airdrops counts as regular income
- Getting your paycheck in crypto
Non-taxable events:
- Buying and holding crypto with regular money
- Moving crypto between your wallets
- Giving crypto as gifts (up to $19,000 per person in 2025)
- Donating crypto to qualified tax-exempt charities
Do you pay taxes on crypto before withdrawal?
Many Apple users think taxes only matter when they move crypto to their bank account. The truth is different – taxes kick in when a taxable event happens, not when you cash out. To name just one example, trading Bitcoin for Ethereum in 2025 means you owe taxes that year, whatever you do with the money later. The IRS wants to know about all your digital asset income, even if you never turn it into dollars.
The tax amount depends on your crypto’s market value when the transaction happens. This applies to purchases, crypto trades, or selling for regular money.
New IRS Rules Apple Users Must Know
The cryptocurrency regulatory landscape will change dramatically by 2025. Apple users must understand several critical IRS rule changes to stay compliant.
Form 1099-DA: What it is and when it starts
Form 1099-DA (“Digital Asset Proceeds From Broker Transactions”) represents the original tax form created specifically for digital asset transactions. U.S. crypto exchanges must track and report your transactions on this new form starting January 1, 2025. Brokers will report only gross proceeds from selling on the 2025 form. The process will become easier to calculate gains or losses because brokers will also report cost basis information from January 2026.
Wallet-by-wallet accounting explained
Crypto investors can currently use “universal accounting” to calculate cost basis across multiple wallets. A new requirement will force you to switch to “wallet-by-wallet” accounting from January 2025. Each individual wallet’s cost basis must be tracked separately. Apple users who manage multiple wallets through different apps need more detailed records, especially when they transfer assets between wallets.
Backup withholding and tax certification forms
Exchanges like Coinbase will ask you to complete tax certification forms in 2025: Form W-9 for U.S. taxpayers or Form W-8 for non-U.S. taxpayers. These forms help brokers report your transactions correctly to the IRS. Your crypto sales could face backup withholding from January 1, 2027 if you don’t submit these forms. The IRS has provided some relief by not requiring backup withholding for transactions during 2025 or 2026.
Which crypto exchanges report to the IRS?
Major exchanges that already report crypto activities to the IRS include:
- Coinbase
- Crypto.com
- Binance US
- Kraken
- Gemini
- Robinhood
- CashApp
- PayPal
Offshore exchanges that don’t serve U.S. customers won’t issue Form 1099-DA. All the same, you must report all taxable crypto transactions on your tax return if you use these platforms.
How to Report Crypto Taxes from iPhone or Mac
Image Source: TurboTax – Intuit
Apple users can now manage their crypto tax obligations right from their iPhone or Mac. Modern software and integrations make tax reporting a breeze for Apple device owners.
Using crypto tax software on iOS/macOS
The App Store features several robust crypto tax applications. CoinTracker has become a favorite tool that ever spread among 2.5 million users since 2017. It helps users calculate their cost basis and capital gains quickly. Koinly makes life easier by syncing transactions from over 800 exchanges and wallets. It tracks transfers between wallets automatically to maintain your original cost basis. Blockpit stands out as the Best Crypto Tax Calculator for 2023, 2024, and 2025. It combines tax optimization with portfolio tracking features.
These tools help users track cryptocurrency trades on multiple exchanges. They calculate capital gains taxes automatically and create tax reports based on your digital assets. Users can also manage their NFTs and DeFi investments smoothly.
Importing data from Apple Wallet and exchanges
Tax software typically offers two ways to import data. API connections provide uninterrupted importing, while CSV file uploads work as a backup option. APIs can automatically import thousands of transactions from exchanges. CSV imports need you to download your transaction history reports first. The software then calculates your cost basis and spots taxable events, including the new requirement for wallet-by-wallet accounting.
Filing with TurboTax, TaxAct, or Apple-integrated tools
Your tax forms are ready for filing once all transactions match up. TurboTax users can import their crypto activity instantly through direct exchange connections. They also have options to upload a CSV file or enter transactions manually. TaxAct’s Premier or higher versions support crypto reporting through simple CSV imports. CoinLedger works with TurboTax to format your data automatically for both platforms.
Expert Tips to Reduce Your Crypto Tax Bill
Smart crypto investors can save thousands of dollars with proper tax planning. You can reduce your tax burden and stay compliant with IRS regulations by using the right strategies.
Track cost basis and holding periods
Accurate cost basis tracking is the foundation of proper crypto tax reporting. Your cost basis is what you paid to acquire the cryptocurrency, including fees and commissions. You must document the cost basis, acquisition date, sales proceeds, and date of sale for each transaction. Starting January 1, 2025, you’ll need to track cost basis separately for each wallet as per-wallet tracking becomes mandatory. Your crypto holdings qualify for lower long-term capital gains rates (0%, 15%, or 20%) when held for more than a year. This beats the ordinary income rates (10-37%) for assets held less than a year.
Offset gains with losses
Tax-loss harvesting is one of the best ways to lower your crypto tax bill. You can use losses from selling crypto to offset capital gains from other crypto or traditional investments. There’s no limit on offsetting capital gains, and you can deduct up to $3,000 in excess losses against ordinary income each year. Any unused losses roll over to future tax years without expiration.
Donate or gift crypto strategically
Donating cryptocurrency to qualified charities after holding it for more than a year gives you two big advantages. You avoid capital gains taxes and can deduct the full fair market value on your tax return. Direct crypto donations can boost your charitable impact by up to 23.8% compared to selling crypto and donating cash. You can also gift up to $19,000 per recipient in 2025 without filing a gift tax return.
Avoid common crypto tax software errors
Crypto tax software platforms make life easier but they’re not perfect. Wrong calculations can happen due to missing wallets or incomplete history. Many people don’t know that crypto-to-crypto trades count as taxable events. Make sure all your wallets sync up and your transaction history is complete before filing. Your cost basis should be accurate from the first year you started using crypto.
Conclusion
Tax rules for crypto will get substantially more complex for Apple users in 2025. A new Form 1099-DA and detailed wallet tracking means you’ll need better records and a clearer grasp of your tax duties. Being proactive about these changes now will make tax season much easier.
Buying and holding crypto won’t trigger any taxes. But selling, trading between cryptocurrencies, or buying things with digital assets creates taxable events, whatever you do with the funds in your bank account.
Apple users have a clear edge in managing crypto taxes. The ecosystem has powerful tax software like CoinTracker, Koinly, and Blockpit that work naturally with iOS and macOS. These tools track your transactions on exchanges automatically and calculate tax obligations based on new IRS rules.
Smart tax planning can cut your crypto tax bill dramatically. You can minimize your tax burden by tracking cost basis carefully, holding assets long-term, and harvesting losses strategically. Donating appreciated crypto assets helps causes you care about and eliminates capital gains taxes.
The crypto world changes faster every day, and tax rules are finally catching up. These new reporting requirements might look tough at first, but the right prep and tools make it easy to comply. As an Apple user, you have all the tools to handle crypto taxes confidently and save thousands through smart planning.
Key Takeaways
Apple users face significant crypto tax changes in 2025 that require immediate preparation and strategic planning to ensure compliance and minimize tax liability.
• New Form 1099-DA starts January 2025: All U.S. crypto exchanges must report your transactions on this new IRS form, with wallet-by-wallet accounting now mandatory instead of universal tracking.
• Crypto taxes trigger on transactions, not withdrawals: Selling, trading between cryptos, or purchasing goods creates taxable events regardless of whether you cash out to your bank account.
• Apple ecosystem offers powerful tax tools: Use iOS/macOS apps like CoinTracker, Koinly, or Blockpit to automatically import exchange data and calculate taxes with TurboTax integration.
• Strategic planning reduces tax bills significantly: Hold crypto over one year for lower capital gains rates, harvest losses to offset gains, and donate appreciated crypto to avoid taxes entirely.
• Proper record-keeping is now critical: Track cost basis, acquisition dates, and holding periods for each wallet separately to comply with new IRS requirements and maximize tax savings.
The key to success in 2025 is preparation—start organizing your crypto records now and leverage Apple’s integrated tax software solutions to streamline compliance while implementing tax-saving strategies before the new regulations take full effect.
FAQs
Q1. How will crypto taxation change for Apple users in 2025? In 2025, U.S. cryptocurrency exchanges must report transactions on the new Form 1099-DA. Apple users will need to adopt wallet-by-wallet accounting instead of universal tracking, and complete tax certification forms to avoid potential backup withholding in future years.
Q2. What crypto activities are taxable events in 2025? Taxable events include selling crypto for cash, trading one cryptocurrency for another, using crypto to purchase goods or services, and receiving crypto from mining, staking, or as payment for work. Buying and holding crypto, transferring between personal wallets, and certain gifts are not taxable.
Q3. How can Apple users efficiently manage their crypto taxes? Apple users can utilize iOS and macOS tax software like CoinTracker, Koinly, or Blockpit to automatically import exchange data, calculate taxes, and integrate with filing platforms like TurboTax. These tools help track transactions across multiple exchanges and prepare tax reports based on digital asset activities.
Q4. What strategies can reduce an Apple user’s crypto tax bill in 2025? To minimize tax liability, hold crypto assets for over a year to qualify for lower long-term capital gains rates, use tax-loss harvesting to offset gains with losses, and consider donating appreciated crypto to qualified charities to avoid capital gains taxes while potentially claiming a deduction.
Q5. Do you pay taxes on crypto before withdrawing to a bank account? Yes, taxes are triggered when a taxable event occurs, regardless of whether you withdraw funds to a bank account. For example, if you trade Bitcoin for Ethereum, you owe taxes for that tax year even if you don’t convert to fiat currency.