Cryptocurrency exchanges around the world are starting to report more and more information to government agencies. In this guide, we analyze Uniswap’s tax reporting policies within United States. We’ll also break down a simple way to report your Uniswap taxes in minutes.
Does Uniswap report to the Internal Revenue Service (IRS)?
At this time, decentralized wallets like Uniswap do not report to the IRS.
However, it’s important to remember that transactions on blockchains like Ethereum are publicly visible and permanent. Tax agencies around the world analyze blockchain transactions to match ‘anonymous wallets’ to known investors.
Does Uniswap send 1099 forms?
Decentralized exchanges like Uniswap do not issue Form 1099.
Do I have to pay taxes on my Uniswap transactions?
Yes. In the United States, your transactions on Uniswap 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 Uniswap legal?
Decentralized exchanges like Uniswap are legal in the United States.
Are Uniswap fees taxable?
Fees on Uniswap and other exchanges can reduce your tax bill!
Fees directly related to acquiring/disposing of crypto can be added to your cost basis or subtracted from your gross proceeds. In either case, fees can reduce your capital gain!
Get a Uniswap tax report today
Looking for a simple way to report your Uniswap taxes? With CoinLedger, you can import your Uniswap transactions and auto-generate a complete gains, losses, and income tax report in minutes.
CoinLedger integrates with Uniswap 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.
