Crypto Transfers Between Wallets: Keeping Your Cost Basis

Moving crypto between accounts you own isn't a taxable sale. The coins keep their original purchase date and cost basis (IRS virtual currency FAQ). The holding period keeps running, so coins bought 14 months ago and moved last week are still long-term.

Wallet by wallet

From January 1, 2025, Rev. Proc. 2024-28 requires basis to be tracked per wallet or account rather than across everything you own. Lotsift moves the lots oldest first with each Send and attaches them to the matching Receive in the other file.

When the other side is missing

If a Receive has no matching Send in the files you loaded, Lotsift uses the row's USD value as basis and flags it. Load the other account's history to fix it.

Last reviewed 2026-10-28. General information, not tax advice. Your tax adviser can tell you what applies to you.