Bitcoin self-custody creates a massive cost-basis blind spot on your 2026 crypto tax forms
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Self-custodied Bitcoin can create significant cost-basis gaps on 2026 tax filings because wallets and decentralized transactions generally do not provide centralized, standardized tax reporting. Taxpayers may need to reconstruct acquisition dates, prices, transfers, and holding periods from personal records, exchange statements, and blockchain data. The key implication is heightened audit and underreporting risk, particularly for users who move Bitcoin between exchanges, wallets, or privacy-enhancing services without maintaining detailed documentation.
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