For Tax Year 2021, moving crypto from one wallet to another is not reportable.
Purchasing Crypto is also not reported.
What IS reported is the gain or loss on the Cryptocurrency when you trade or sell.
The gain or loss is the difference between what you paid (Basis) and what you sell it for (or the value of the crypto you trade it for).
You also need to report Crypto if you earn it, or if given as an incentive or Air Drop.
Therefore, you need to keep a record of the value of the cryptocurrency (in US Dollars) when you purchase or earn them so that you can report the gain or loss when disposed of.
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