Buying or selling crypto through an over-the-counter desk or directly with another person, outside an exchange order book.
No broker form is issued for most P2P trades, and OTC desks vary. The trade is a disposal at the agreed price, and your record of the trade (chat, invoice, transaction hash) is the evidence of proceeds and basis. Large cash P2P deals may trigger Form 8300 for the business side.
From your own records: date, counterparty, amount, price, and the transaction hash. The absence of a form does not change the tax.
Source: IRS Notice 2014-21; IRC 6001
Last reviewed September 18, 2026. Tax rules change; confirm current law before acting.
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