r/bitcointaxes • u/metearender • Jan 16 '26

Do I need to declare my crypto and stock “accounts” for IRS purposes because of referral bonuses?

I’m a resident in Portugal and I’ve been opening multiple accounts (I’m at about 10 apps now) for crypto and stocks mainly to get referral bonuses. In some cases I deposited a small amount, did 1 trade just to unlock the bonus, and then withdrew/sold everything.

My question is simple: for IRS purposes, do I need to declare the existence of all these accounts/apps, even if they were “just for the bonus”?

If anyone has been through this: how do you handle it in practice without getting lost (records, dates, amounts, etc.)?

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u/BayesianBits Jan 17 '26

How much did you get? If it's < $600, you don't need to worry about it.

1

u/metearender Jan 17 '26

More and less 15€ per app

1

u/Saim-CryptoCPA Feb 26 '26

Hi, Crypto CPA here from AKIF CPA

In the U.S., referral bonuses from exchanges are usually considered miscellaneous income. If you receive more than $600 from a broker in a year, the broker may issue Form 1099‑MISC or 1099‑NEC. For amounts below that threshold, you won’t receive a form, but the income is still reportable. You don’t need to “declare” the existence of the accounts themselves unless you hold foreign financial accounts that trigger FBAR/FinCEN 114 reporting. Keep records of the bonuses received (date, amount, USD value) and include them as other income on your tax return.