> ## Knowledge Base Index > Fetch the complete knowledge base index at: https://help.netrunner.tax/sitemap.xml > Use this file to discover available pages before exploring further. > Pure-Markdown content can be obtained by appending a '.md' suffix to the content URLs listed in the sitemap (without the trailing slash). # US Crypto Tax Guide for Solana Users In the United States, centralized crypto exchanges may report customer account and transaction information to the Internal Revenue Service (IRS) for tax compliance purposes, while also complying with Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations overseen by the Financial Crimes Enforcement Network (FinCEN). ## Who this is for * US taxpayers with Solana on chain activity * Users preparing to file with a CPA or tax software * Anyone using Netrunner to reconcile trades, DeFi, NFTs, or perps ## Why this matters US crypto taxes are transaction based and disposal driven. Missing labels or misclassified activity results in **Unknown labels** and will require manual intervention from users. Netrunner helps reduce Unknowns with our auto-labeling system and prepares IRS ready reports so you can file with confidence. --- ## How crypto is taxed in the US (high level) In the US, crypto is treated as **property**, not currency. You generally owe taxes when: * You **sell** crypto for USD * You **swap** one token for another * You **spend** crypto * You **receive income**, such as rewards or perps PnL You generally do **not** owe taxes when: * You move funds between your own wallets * You hold assets without selling * Add liquidity to a pool without receiving an LP token --- ## What Netrunner does for US taxes Netrunner: * Indexes your **Solana on chain activity** * Auto labels supported protocols and programs * Calculates **capital gains, income, and expenses** * Generates **IRS ready reports and filled forms** Netrunner **does not file taxes for you**. It prepares outputs for your tax filing workflows. To file your taxes, you will need to use tax software like TurboTax or FreeTaxUSA to file with the IRS. --- ## US tax forms supported by Netrunner Netrunner provides **prefilled, fillable PDFs** for the following IRS forms: * **IRS Form 8949** – Capital asset disposals * **IRS Schedule D** – Capital gains summary * **IRS Schedule 1** – Additional income These forms are sourced from official IRS templates and prefilled using your labeled transaction data. These forms take all of the data you see in the Report Summary, Capital Gains, and other Netrunner reports and input them into the IRS forms on your behalf. --- ## How common Solana activity is taxed ### Trades and swaps * Swaps are treated as **disposals and are taxable.** * Capital gains or losses are calculated based on cost basis and fair market value at the time of the swap * Staking Rewards, Yield earned from DeFi, and Airdrops are treated as **income** and are taxable. ### NFTs * Buying or minting an NFT sets cost basis * Selling or transferring an NFT is a taxable disposal * NFT mints use **two leg handling** to correctly track cost basis ### DeFi lending and yield * Interest and rewards are treated as **income** * Withdrawals may trigger disposals depending on structure ### Perpetuals trading * Perps are handled as **income and expense** * Realized PnL is summarized at the position level * Unrealized gains are not claimed * Fees are broken out separately ### Transfers * Transfers are taxable by default * **Internal Transfers** are non taxable when correctly labeled --- ## Step by step: filing US crypto taxes with Netrunner * Connect your Solana wallet * Let indexing complete * Review auto labeled transactions * Manually label any remaining Unknowns - Flagged Tx * Review capital gains and income reports * Export IRS forms or CSVs * File using your CPA or tax software --- ## What you should see * A completion percent that increases as Unknowns are resolved * Capital gains totals that reconcile with disposals * Income and expense totals separated clearly * IRS forms ready for download --- ## Common issues (Known UX Friction) ### I still see Unknown transactions Some protocols are not yet supported for auto labeling. These require manual labels. ### My transfer is marked taxable Transfers are taxable by default. Label it as **Internal Transfer** if it is between your own wallets. ### My perps gains look different than exchange UI Netrunner reports **realized PnL only**, per IRS guidance. Unrealized gains are excluded. --- ## FAQ **Does Netrunner file my taxes for me?** No. Netrunner prepares reports and forms for filing. **Can I use Netrunner with TurboTax or a CPA?** Yes. You can export CSVs or provide filled IRS forms. **Is Netrunner compliant with US tax rules?** Netrunner follows standard US crypto tax treatment and provides transparent calculations for review. **What if my activity is not auto labeled?** You can always manually label transactions and still generate accurate reports. --- ***Disclaimer:*** *This content is for informational purposes only and is not financial, tax, or legal advice. Please verify with official sources and consult a professional before acting on any information. Netrunner is not liable for outcomes resulting from its use.*