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.