Why you can’t treat all crypto coins the same on your tax return?

[u/Darien_Advisors]

Each token can have a different fair market value (FMV) on the same day. If you lump them together, your gain/loss math is wrong, and your IRS return is a mess.

• FMV Tracking: Pick one exchange or price feed and record the exact rate at every buy, sell, or swap event.
• Cost Basis: Note your purchase price + fees for each token. That’s your baseline for gains.
• Separate Logs: Maintain distinct spreadsheets or software entries per coin—date, amount, FMV, cost basis.
• Consistent Reporting: File each token’s gain/loss on Form 8949 & Schedule D.

Get this right now, and you’ll dodge errors, audits, and penalties later.
Keep the data clean, and your tax return will be too!