Does Tangem Report to the IRS?

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Tangem Wallet

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Key takeaways

Tangem Wallet does not report directly to the IRS.
The IRS can still trace Tangem transactions, especially when you move funds between Tangem and a regulated exchange like Coinbase.

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

What is Tangem Wallet?

Tangem is a hardware cryptocurrency wallet designed to look like a credit card. Each Tangem Wallet card generates and stores private keys offline, giving you full control over your crypto. You can manage your wallet using the Tangem mobile app, which supports Bitcoin, Ethereum, and other cryptocurrencies.

Because it’s non-custodial, Tangem Wallet does not collect Know Your Customer (KYC) information and does not issue tax forms.

However, if you send crypto to or from a centralized exchange, those transactions can be linked to your identity.

Does Tangem Wallet report to the IRS?

No. Tangem does not share data with the IRS or issue 1099 forms.

However, your wallet acitivity can still be tracked:

Blockchain transparency: Transactions on the blockchain are publicly visible. In the past, the IRS has worked with contractors like Chainalysis to identify ‘anonymous’ wallet addresses. ‍
Exchange reporting: Beginning in the 2025 tax year, U.S. brokers such as Coinbase will issue Form 1099-DA to customers and the IRS, reporting proceeds and cost basis on cryptocurrency disposals. While these rules won’t apply to Tangem, this will give the IRS more information to identify ‘anonymous’ wallets.

If I use Tangem Wallet in the US, do I owe taxes?

Yes. Crypto activity on Tangem and other platforms is taxable:

Capital gains: Selling, swapping, or spending crypto is considered a taxable disposal subject to capital gains tax. You’ll incur a capital gain or loss depending on how your asset’s value changed since you originally acquired it.
Ordinary income: Rewards from staking, mining, or airdrops must be reported as income based on their fair market value upon receipt.

Moving funds between your own wallets (e.g., Coinbase to Tangem) is not a taxable event.

Does Tangem Wallet have KYC?

No. Tangem does not require identity verification to set up or use. If you purchase crypto through a connected exchange or third-party provider, that provider may require KYC.

Is Tangem Wallet legal in the US?

Yes. Tangem is legal to use in the United States.

You are responsible for accurately reporting your taxable income from Tangem to the IRS.

How do I avoid Tangem taxes?

Here are a couple of steps to help you avoid crypto taxes legally:

Tax-loss harvesting: When you sell crypto at a loss, you can offset an unlimited amount of capital gains and up to $3,000 of ordinary income. Additional losses can be rolled forward to future tax years, ‍
Crypto tax software: Crypto tax software like CoinLedger automatically tracks your transactions from Tangem and other wallets and helps you find your biggest tax-saving opportunities.

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

CoinLedger integrates with Tangem Wallet 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.