Does Ledger Report to the IRS?
Ledger is a non-custodial wallet, but in some instances, it may collect KYC data and has faced increasing pressures to share this information with the IRS and other US agencies. Learn more in our guide.
Ledger is a popular non-custodial, hardware wallet, but those using Ledger Live may need to verify their identity through KYC.
Ledger doesn’t currently report to the IRS, and the DeFi broker guidance that would have required reporting was repealed in April 2025.
Despite this, you’ll still need to report any taxable transactions from your Ledger wallet.
Does Ledger report to the IRS?
No. Currently, Ledger is not required to report to the IRS under existing guidance.
As a non-custodial wallet, Ledger is not classified as a crypto broker and therefore won’t be required to issue Form 1099-DA starting in 2026. Although Ledger Live may require KYC verification in certain cases, it’s unlikely to be considered a crypto broker, especially since DeFi services have since been excluded from the definition as of April 2025.
All this said, if you’re tempted not to report your Ledger transactions because you don’t think the IRS will know about it, then think again.
Read next: Can the IRS track crypto?
How could the IRS know about my Ledger transactions?
Blockchains are public ledgers. That means anyone, anywhere, can view the transactions of a given wallet, including the IRS.
All the IRS needs to do is link you to a given wallet address to know about your transactions. As Ledger Live does collect KYC data, this would be easy for the IRS to request. The IRS also has dedicated blockchain analysts to find this information.
As well as this, other exchanges have been compelled to share customer data, including associated wallet addresses for users.
This is why it’s always advisable to report your crypto transactions accurately. Failure to do so will result in steep penalties.
Read next: What happens if you don’t report cryptocurrency on taxes?
How do I report my Ledger taxes to the IRS?
You’re responsible for reporting any gains or losses from your Ledger transactions to the IRS using Form 8949 and Schedule D. If you’ve earned any income through crypto activities, that should also be reported on Schedule 1 or Schedule C, depending on your specific tax situation.
Since tracking this data can be complex, most investors opt to use a crypto tax calculator like Koinly to simplify crypto taxes.
Report your Ledger taxes with Koinly
Koinly makes it easy to report your Ledger transactions to the IRS by automatically importing your data from Ledger using API or a CSV file. Once imported, Koinly calculates your gains, losses, income, and more, then generates ready-to-file tax reports, including Form 8949, Schedule D, and TurboTax reports. Learn more about how to do your Ledger taxes with Koinly.
FAQs
Do I have to pay tax on my Ledger transactions?
Yes. If you’ve sold, traded, or spent crypto using your Ledger wallet, you’ll have a tax liability. This also applies to any income from crypto, like staking rewards. Learn more in our crypto taxes guide.
Do you get a 1099 from Ledger?
No. Ledger does not issue 1099 forms.
Do I need an FBAR for Ledger?
It’s not entirely clear whether the FBAR applies to non-custodial wallets like Ledger, especially given the business has US offices.
