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.
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.
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.
Software wallets like Exodus are legal in the United States.
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.