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The average cryptocurrency user could overpay their taxes by as much as $14,500 for 2025, cryptocurrency tax software provider Summ says.

According to the firm, $435 million in inflated capital gains compared to $46 million in actual gains after analyzing data from 30,000 U.S. cryptocurrency users with average trading activity.

Extrapolating the data across other transaction types and the 46 million U.S. cryptocurrency users, the inflated capital gains exceed $600 billion, Summ said.

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Summ attributed the discrepancy to reporting limitations in the IRS’s new Form 1099-DA, which requires users to report gross…