No items found.
2025-07-14

Yield farming or DeFi interest

Earnings from yield farming or lending crypto in DeFi platforms are taxed as income at the time they are received. However, depositing into and withdrawing from a liquidity pool may be treated as a disposal, which is a capital gains event.

  • Example: Earning £500 in interest from a DeFi platform is subject to Income Tax.

Payments for goods or services

Receiving cryptocurrency as payment for goods or services is treated as income at its market value when received. There are instances where the “value” of the work will be taxed instead of the value of the crypto received. Professional advice should be taken if you are unsure.

  • Example: If you're paid 0.2 BTC for freelance work worth £6,000, this amount is subject to Income Tax.

Receiving airdrops

If you actively participate to receive an airdrop (e.g., completing tasks), the tokens are treated as income at their market value upon receipt.

  • Example: Earning £100 in tokens from an airdrop after completing tasks is subject to Income Tax.

Mining rewards

Mining rewards are taxed as income. Those undertaking mining activities to an extent to which they are operating a business will be subject to additional tax obligations.

  • Example: Earning 0.5 BTC through mining worth £10,000 at the time of receipt is subject to Income Tax.

Staking rewards

Cryptocurrency earned through staking is considered income at the market value at the time of receipt.

  • Example: If you earn 0.1 ETH through staking worth £200, this amount is subject to Income Tax.

Providing liquidity

Adding liquidity: If adding assets to a liquidity pool results in a change of ownership or creates a new token (e.g., LP tokens), it may be considered a taxable disposal, with CGT applying to any gains. The answer to this can usually be found within the terms and conditions of the protocol.

Removing liquidity: Removing assets from a liquidity pool may also be a disposal, potentially triggering CGT based on the gain or loss relative to the cost basis.

Liquidity pool rewards are generally treated as taxable income upon receipt, subject to Income Tax.

Selling airdropped tokens

Selling tokens received through an airdrop is a taxable disposal.

Tokens received without any action (eg, unsolicited distributions) are not taxed as income upon receipt. Instead, they are subject to Capital Gains Tax (CGT) when sold, with the cost basis typically being zero or the fair market value at the time of receipt if explicitly stated by HMRC.

Tokens earned through performing tasks (eg, completing activities) are taxed as income at the market value in GBP upon receipt. When sold, the gain or loss is subject to CGT, calculated using the market value at receipt as the cost basis.

  • Example: You perform a series of tasks to qualify for an airdrop. You then sell that airdropped token for £500 and it has a cost basis of £200. The £200 cost basis would have been subject to income tax in the tax year in which it was received and the £300 gain is subject to CGT in the tax year in which the token is sold.

Selling NFTs

Disposing of NFTs is treated similarly to crypto disposals, with gains subject to CGT.

  • Example: If you bought an NFT for £1,000 and sold it for £3,000, the £2,000 profit is taxable.

Gifting cryptocurrency (excluding spouse or civil partner)

Gifting crypto to someone triggers CGT based on the market value at the time of the gift. Gifting to registered charities or your spouse or civil partner does not trigger a taxable event. Here, we have often seen individuals gifting tokens to others but keeping them in their own wallet. If this is the case, it is very important to document the gift. Consider speaking to a tax advisor if you are uncertain of your position.

  • Example: Giving 1 ETH to a friend worth £2,000 incurs CGT on any gains above its cost basis.

Using crypto to purchase goods or services

Spending cryptocurrency on goods or services is considered a disposal.

  • Example: Paying 0.5 BTC for a laptop is a taxable event. If the BTC had a cost basis of £5,000 but was worth £10,000 at the time of the transaction, the £5,000 gain is subject to CGT.

Crypto-to-crypto trades (swaps)

Exchanging one cryptocurrency for another (e.g., BTC for ETH) is treated as a disposal for tax purposes.

  • Example: Swapping BTC worth £5,000 for ETH creates a taxable event, with any profit based on the cost basis of your Bitcoin. The value of the BTC when swapping will be the proceeds and will also become the cost of the ETH that has been obtained.

Selling crypto for GBP

Any profit made when you sell crypto for fiat currency (e.g., GBP) is a taxable event.

  • Example: If you bought BTC for £10,000 and sold it for £15,000, you have a taxable gain of £5,000.

How Investing vs Trading impacts tax

In most cases of buying and selling cryptocurrency as a retail investor, you are participating in investing rather than trading. The two are treated differently for tax purposes.

  • Investing is subject to capital gains tax or income tax, depending on the nature of the transaction.
  • Trading in this case refers to self-employment which is subject to income tax and National Insurance Contributions.

The key difference between investing and trading – along with the different tax treatments, is how losses generated in the crypto-activity can be used.

In their guidance, HMRC have explicitly stated that they would expect it to be exceedingly rare that any crypto-activity constituting buying & selling crypto would be classified as “trading”.

If you are uncertain, speak to a tax advisor as there are always exceptions, including but not limited to, developing tokens and large scale mining.

How is crypto tax calculated in the United States?

You can be liable for both capital gains and income tax depending on the type of cryptocurrency transaction, and your individual circumstances. For example, you might need to pay capital gains on profits from buying and selling cryptocurrency, or pay income tax on interest earned when holding crypto.

All Countries

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
UK flags
United Kingdom
Guides
14
 
Jul
 
2025
 - 
10
min read

How to do your Importing Your Robinhood Data taxes in 2025

Key takeaways
  • Robinhood reports your crypto transactions to the IRS, so you must include them in your tax return.
  • Robinhood issues you with Form 1099, which will also be sent to the IRS.
  • If you transferred crypto in or out of Robinhood, the tax forms you receive may not have an accurate cost basis. Software like Crypto Tax Calculator can help fix this.
This tax guide is regularly updated: Last Update  
CryptoTax Calculator thumbnail

If you use Robinhood to trade crypto you might be wondering how to do your Robinhood taxes. In this article we’ll walk you through gathering and reporting your Robinhood tax forms to ensure you’re on the right track.

Does Robinhood Report to the IRS?

Yes. Robinhood does report your crypto transactions to the IRS.

You may have noticed that Robinhood issued you a Form 1099. If you have sold crypto or received rewards equaling more than $600 in a year, Robinhood will send you a Form 1099 and also send it to the IRS.

Since the IRS has a record of your crypto transactions, it’s important to make sure you file your taxes accurately, to avoid receiving a CP2000 notice or worse, an audit.

How to Do Your Robinhood Crypto Taxes

You need to report any capital gains or losses from your Robinhood crypto transactions to the IRS as part of your yearly tax return. Typically, you will report your gains and losses on Form 8949, and you can also use Form 1099 that you receive from Robinhood to report your crypto, however, it may not always be entirely accurate.

Even though Robinhood reports your crypto transactions to the IRS on Form 1099, you still need to accurately determine your cost basis – the amount you paid when you bought an asset – to help you figure out your capital gains.

This can be difficult to track when you’re transferring crypto in and out of the platform. On its website, Robinhood states that when “we don’t have the cost basis, it’s your responsibility to calculate and report the proper cost basis on your tax return.”

This is where you can use a crypto tax platform like Crypto Tax Calculator to help you report your crypto taxes. All you need to do is import your Robinhood transaction data and Crypto Tax Calculator will analyze the data – alongside any other external crypto activity – and calculate your cost basis. You can then generate a tax report ready for the IRS, your accountant or TurboTax.

{{robinhood-cta-btn}}

How to Get Your Robinhood Tax Documents

Robinhood doesn’t currently provide complete and accurate tax reports ready for you to file.

You’ll either need to use software like Crypto Tax Calculator to analyse your transactions and calculate your tax for you, or otherwise download your transaction data and calculate your taxes manually.

Crypto Tax Calculator supports an API connection with Robinhood, which allows your transaction data directly, allowing for accurate and up-to-date reporting. Alternatively you can download a CSV of your transactions from Robinhood, but you’ll need to repeat this process each time your transaction history changes.

Getting your Robinhood tax data using an API

The easiest way to transfer data is to generate an API key and share the details with Crypto Tax Calculator. Follow the below instructions to import your data.

On RobinhoodClick “Account” in the top-right corner, then select “Crypto.”

  1. Click “Account” in the top-right corner, then select “Crypto.”
  1. Scroll down to “API Trading.”
  1. Select “Add Key.” This will open a window with details to fill out, including key name, expiration date, allowed API actions, and public key.
  1. You will need to generate a public and private key pair. There is a link under “Public key” on API guides which will explain how to do this: https://docs.robinhood.com/crypto/trading/#section/Authentication/Creating-a-key-pair
  2. Under API actions, enable all read actions.
  3. Skip setting any allowed IPs or expiration date for the API key.
  4. Click “Save” for the API key creation.
  5. You will receive a notification to authenticate the activity.
  1. Robinhood will then display the API key.

On Crypto Tax Calculator

  1. Log in to Crypto Tax Calculator, navigate to the Accounts page and search for Robinhood in the “Add account” menu.
  1. Select “Sync via API” and paste in your API Key and Secret.
  1. Wait for the API to sync, and then review your transaction data.

Using a CSV upload

The alternative to using an API is downloading your transaction data and uploading the files to Crypto Tax Calculator. If you’d prefer to import via CSV, follow the instructions below to import your data.

On Robinhood

  1. Log in to your Robinhood account.
  2. Click 'Account' in the top-right corner, then select “Tax Center.”
  1. Your CSV documents will be available under “Robinhood Markets Consolidated Transactions.”
  1. Click “Download CSV.”
  2. Once you have your file(s), convert from PDF to CSV if necessary.
  3. Re-format the file(s) into CTC’s advanced CSV format.

On Crypto Tax Calculator

  1. Log in to Crypto Tax Calculator, navigate to the Accounts page and search for Robinhood in the “Add account” menu.
  1. Upload your CSV file(s) by clicking “Upload File” and then “Import Robinhood CSV.”

Wait for the file to upload, and then review your transaction data.

Wrapping Up

Once you have uploaded all your crypto data from Robinhood into Crypto Tax Calculator, our platform can calculate your portfolio breakdown and crypto tax obligation. If you can’t upload your transactions, you may add them individually on the review transactions page.

Sources

{{robinhood-cta-btn}}

The information provided on this website is general in nature and is not tax, accounting or legal advice. It has been prepared without taking into account your objectives, financial situation or needs. Before acting on this information, you should consider the appropriateness of the information having regard to your own objectives, financial situation and needs and seek professional advice. Crypto Tax Calculator disclaims all and any guarantees, undertakings and warranties, expressed or implied, and is not liable for any loss or damage whatsoever (including human or computer error, negligent or otherwise, or incidental or Consequential Loss or damage) arising out of, or in connection with, any use or reliance on the information or advice in this website. The user must accept sole responsibility associated with the use of the material on this site, irrespective of the purpose for which such use or results are applied. The information in this website is no substitute for specialist advice.

FAQ

No items found.
Table of contents

More resources

CryptoTax Calculator thumbnail
Guides
12
 
Apr
 
2025
Can The IRS Track Bitcoin? Yes, here’s how

Learn how Bitcoin is taxed in the U.S., the difference between short and long-term capital gains, and how timing your sale can cut your crypto tax bill.

Read More
April 12, 2025
CryptoTax Calculator thumbnail
Guides
11
 
Apr
 
2025
Bitcoin Taxes in the USA: The Complete 2025 Guide

Bitcoin is taxed as either capital gains or income tax depending on the transaction. Learn how to do your Bitcoin taxes with this guide.

Read More
April 11, 2025
CryptoTax Calculator thumbnail
Guides
11
 
Apr
 
2025
Bitcoin Capital Gains Tax

Learn how Bitcoin is taxed in the U.S., the difference between short and long-term capital gains, and how timing your sale can cut your crypto tax bill.

Read More
April 11, 2025

Try Crypto Tax Calculator today

Import your transactions and generate a free report preview.

;