Does MetaMask Report to the IRS?

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Metamask

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Cryptocurrency exchanges around the world are starting to report more and more information to government agencies. In this guide, we analyze Metamask’s tax reporting policies within United States. We’ll also break down a simple way to report your Metamask taxes in minutes.

Does MetaMask report to the Internal Revenue Service (IRS)?

At this time, decentralized wallets like MetaMask do not report to the IRS.

Can the IRS track my MetaMask 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 MetaMask transactions?

Yes. In the United States, your transactions on MetaMask 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 MetaMask legal?

Decentralized wallets like MetaMask are legal in the United States.

How do I avoid MetaMask taxes?

Remember, there is no way to legally evade your taxes in the United States. However, there are tools like tax-loss harvesting and cryptocurrency tax software that can help you save thousands of dollars legally.

For more information, check out our guide on how to avoid crypto taxes.

Get a MetaMask tax report today

Looking for a simple way to report your Metamask taxes? With CoinLedger, you can import your Metamask transactions and auto-generate a complete gains, losses, and income tax report in minutes.

CoinLedger integrates with Metamask 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.

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