TL;DR: When you send crypto to a friend, record it with the "Donation" or "Gift" transaction type. When you receive crypto from a friend, use the "Gift / Tip" type. Gifted or inherited tokens keep the previous owner's holding period, so enter the token's original acquisition date. If you prefer, you can filter these transactions out of your tax report. This is general guidance and assumes the transaction is tax-free; always confirm with a tax advisor or your local financial authority.
How do I record crypto I send to a friend?
When you send a cryptocurrency to a friend, use the transaction type "Donation" or "Gift" in your transaction records. See Transaction Types for detailed instructions.
How do I record crypto I receive from a friend?
If you receive a cryptocurrency from a friend, use the transaction type "Gift / Tip" in your transaction records.
Then enter the token's original acquisition date from the previous holder:
Why does the acquisition date matter?
Gifted or inherited tokens retain the holding period of the previous owner. The token's original acquisition date carries over from the previous holder to the new holder, which can affect whether gains are treated as long-term or short-term.
Can I exclude these transactions from my tax report?
If you prefer, you can filter this transaction to keep it out of your tax report.
Please note: excluding income or removing cryptocurrency transactions without proper capital gains calculations might not comply with tax regulations in all jurisdictions.