What to keep a record of
- Author
- CRYPTO PORT Editorial
- Published
- Updated
- Reading time
- 6 min
In short
Records fall into two groups: what you did, and where things are. The first backs up your calculations and your tax return; the second is what lets you — or your family — find the assets at all. Keys belong in neither. What documentation the rules require is set by law, so check the National Tax Agency's guidance and a tax professional.
Key points
- Activity records: trades, swaps, transfers and rewards received
- Location records: which accounts and wallets exist, of what kind, holding roughly what
- Seed phrases and private keys go into neither kind of record
- Exchange-side history does not last forever — pull copies to your own storage
Definition
The information you retain when you hold crypto: the history that evidences your transactions, and the inventory that shows where the assets live.
With crypto, it is usually the records that go missing, not the assets. An exchange you used years ago has closed and you can no longer establish what something cost; you cannot recall which wallet holds what; your family does not know the accounts exist. None of these are easy to recover from after the fact, so it helps to decide up front what you are going to keep.
First, activity. Exchange trade and deposit/withdrawal history, annual statements, transfers between wallets, staking rewards and airdrops received, DeFi swaps and deposits. This is the raw material for calculating gains and the evidence behind a return. If you have the date, the asset, the quantity, the value at the time and the fee, you can always redo the arithmetic later.
Second, location. Which exchanges you use, how many wallets and of what kind, how many hardware devices and where they are, roughly which assets sit where. This is a map for your own use, and it is also the thing that lets your family walk into a professional's office if you are suddenly unable to act. Completeness matters more here than precise amounts.
Third, what must never go into either list: seed phrases, private keys, exchange passwords, two-factor recovery codes. Those are not location information, they are the keys themselves. A leaked inventory does not on its own let anyone move your funds; a leaked key means the funds are gone the same day. Keep the two apart, physically as well as conceptually.
How much documentation the tax rules require, and for how long, is set by law and does get amended. This page does not assert retention periods or specific requirements — confirm the current position with the National Tax Agency's guidance and a tax professional.
Watch out for
- · Never write a seed phrase or private key into a records file or notebook
- · This page is a general orientation, not tax or legal advice
- · The scope and retention of required documents change — check with the National Tax Agency and a tax professional
Frequently asked questions
Do I need records if I only hold a small amount?
Keep them regardless of size. A small position can become a large one, and at that point you will want a cost basis you can trace back. Whether a filing is required in your case is a question for a tax professional.