What is Uphold?
Uphold is a multi‑asset platform that lets users buy, sell, or spend cryptocurrencies, equities, and precious metals. The company operates in the US and so follows US reporting rules.
Does Uphold report to the Internal Revenue Service (IRS)?
Yes. Uphold sends user‑level summaries of taxable activity to the IRS when thresholds are met. Whether or not your activity on Uphold passes the threshold, you must report it to the IRS, even if the transactions are minor.
Use our free crypto tax calculator.
Uphold’s tax reporting policies
Uphold issues 1099 forms and transmits matching data to the IRS: amounts, cost basis where available, and income paid in crypto.
Which transactions are reported to the IRS?
Reported events typically include sales or swaps that result in capital gains or losses, as well as income exceeding specified limits (for example, crypto staking rewards or referral bonuses).
What types of transactions does Uphold report to the IRS?
-
Crypto sales for fiat or another asset
-
Trades between two cryptocurrencies
-
Rewards or bonuses that count as income
-
High‑volume activity that triggers additional disclosure rules
See our expert picks of the best crypto wallets.
What tax forms does Uphold issue?
-
Form 1099‑B (capital gains and losses on disposals)
-
Form 1099‑MISC (staking, referral, or debit‑card rewards over the annual threshold)
Both forms go to qualifying users and to the IRS.
How to access your tax reports on Uphold
-
Sign in and open Activity > Transactions.
-
Export the CSV for the full tax year.
-
Download any 1099 forms from the Tax Center tab.
-
Store these files with your other records.
Do I have to pay taxes on my Uphold transactions?
Yes. Sales or swaps create capital gains or losses (short or long term). Rewards count as ordinary income at fair‑market value on the payout date.
Calculate your crypto gains with our free crypto profit calculator.
How is my Uphold debit card taxed?
Each purchase converts crypto to fiat (a taxable sale). Any card cashback paid in crypto is usually treated as a rebate, not income, but rules can change.
See our picks of the best crypto debit cards.
What happens if you don’t report your crypto taxes?
The IRS can match Uphold’s 1099 data against your return. Omissions can lead to accuracy-related penalties, interest, and (if ignored) even collection action.
Learn more about what happens if you don’t file your crypto taxes.
How TokenTax can help
Our platform pulls your Uphold CSV or API feed, calculates gains with the correct cost basis, and helps produce IRS‑ready crypto tax forms in minutes.