How to reconcile transfers between your own wallets
Reconcile transfers between your own wallets by matching dates, amounts, transaction IDs and addresses, then keep accurate fee and basis records.
Vahe HakobyanEditor-in-chief
Updated Oct 6, 20263 min readFact-checked
On this page
- Match each outgoing transfer to an incoming one by date and amount.
- Log addresses, transaction IDs, amounts and timestamps.
- Record network fees and check delayed transfers.
Gather a history from each wallet and exchange. Then match the outgoing side one transfer at a time.
What to gather before reconciling
A match needs two records. Export the transaction history from each wallet and exchange. Note both addresses, the transaction ID, token amount and timestamp for each transfer.
How to match wallet-to-wallet transfers
Work through the outgoing side one transfer at a time. A true internal transfer moves the same token from an address you control to another address you control.
- 1Sort and compareSort both lists by date and compare amounts and tokens. Start with the oldest unmatched outgoing transfer, find an incoming amount that equals what you sent, and check the token and network.
- 2Confirm addresses and transaction IDMake sure both addresses are wallets you control. A transfer to a wallet you do not control may be a disposal.
- 3Separate taxable movesMoving the same token between your wallets is not taxable. Selling, trading or paying with crypto is usually taxable.
- 4Record fees and delaysLog the network fee, and check the transaction ID if the incoming side is missing. A delayed transfer is not automatically lost.
What to do after reconciling
Once each transfer has a match, confirm it against a statement from the wallet or exchange. The IRS treats crypto as property, so keep these records for basis and gains.
- Download a statement from each wallet or exchange and check the match.
- Mark matched transfers and attach the transaction ID.
- Save the log and statements in one encrypted folder.
- Keep your seed phrase offline and encrypt your wallet or phone.
Frequently asked questions
Yes, one blockchain at a time. Same-name tokens on different networks are not the same asset.
You can still match the outgoing transfer by date, amount and transaction ID. Note the missing incoming side.
Keep them as long as they support your basis, often several years after you file.
Yes, but check each match. The software may treat a transfer as a sale when it cannot link the wallets.
