TON Tax Guide 2026: Toncoin, Telegram Wallets, and Jettons

The Open Network (TON) has seen remarkable growth since Telegram integrated crypto wallets directly into its messaging app. With over 900 million Telegram users, TON has become one of the most accessible blockchains for casual users — many of whom have no idea they may have reportable tax obligations from their in-app crypto activity.

TON and the IRS: The Basics

TON is a cryptocurrency, and the IRS treats it exactly like any other digital asset. The foundational rules from IRS Notice 2014-21 and Revenue Ruling 2023-14 apply:

• Selling or exchanging Toncoin (TON) is a taxable disposal — capital gain or loss.
• Receiving TON as payment or as a reward is ordinary income at fair market value.
• Gifting TON may trigger gift tax rules (Form 709) for large amounts.
• Simply holding TON or transferring it between your own wallets is not taxable.

Telegram Wallet and @wallet Bot

Telegram's built-in @wallet bot allows users to send and receive TON, USDT (on TON), and other assets directly in chats. While the interface feels casual — like sending a message — every transaction is on-chain and has the same tax implications as any other crypto transaction.

Sending TON as a payment for goods or services is a disposal at FMV — any appreciation from your purchase price is a taxable capital gain. Receiving TON as payment is ordinary income. Sending TON as a personal gift to a friend is generally not deductible (crypto gifts are not charitable deductions unless given to a 501(c)(3) organization).

One key issue: many Telegram wallet users don't keep records. Unlike Coinbase, which sends 1099 forms, TON wallet activity is self-reported. The on-chain data is public, but no broker is aggregating it for you.

Jettons: TON's Token Standard

Jettons are TON's fungible token standard, analogous to ERC-20 tokens on Ethereum. Popular Jettons include stablecoins (jUSDT, jUSDC), wrapped assets, and DeFi governance tokens.

Tax treatment for Jettons follows the same logic as any token:

• Swapping TON for a Jetton on a DEX is a disposal of TON and an acquisition of the Jetton.
• Swapping one Jetton for another is a taxable event — both sides of the trade have tax consequences.
• Receiving Jettons as airdrop or protocol reward is ordinary income at FMV.

TON Staking and Nominators

TON uses a delegated proof-of-stake system. Users can stake TON by delegating to validator pools (nominators) and earn staking rewards. Under Revenue Ruling 2023-14, staking rewards are taxable as ordinary income when you receive them — valued at market price on the date of receipt.

TON's liquid staking protocols (like tsTON or hTON from Hipo) give you a liquid token representing your staked position. The exchange of TON for a liquid staking token may be treated as a taxable swap by conservative practitioners, though many argue it's more analogous to a deposit receipt. Your tax advisor should weigh in on how you treat this.

TON Games and Mini Apps (Notcoin, Hamster Kombat)

Telegram mini apps and TON-based games have distributed significant token airdrops to players. Notcoin (NOT), Hamster Kombat (HMSTR), and similar play-to-earn distributions are taxable as ordinary income when received at FMV on the date of the airdrop distribution.

If you "mined" game tokens through in-app activity and then they were converted to real Jettons, the income event is at the conversion/distribution date, not during gameplay. Keep records of airdrop dates and token prices — these games moved fast and prices fluctuated widely at launch.

TON NFTs

TON has a growing NFT ecosystem, including Getgems (the primary TON NFT marketplace) and Telegram-native collectibles like anonymous phone numbers. NFT tax rules on TON mirror those on Ethereum: the profit on an NFT sale is a capital gain (short or long-term depending on holding period), and creating/selling NFTs as a business generates ordinary income.

Record-Keeping Challenges

TON's transaction format differs significantly from EVM chains. The address format, cell-based data structure, and sharded architecture make manual record-keeping particularly difficult. Most users only have access to a basic wallet address, but on-chain data is retrievable via TON Center or Tonscan.

Blockchain Smart Tax supports TON wallet imports, reconciling Toncoin transfers, Jetton swaps, staking rewards, and NFT transactions into a unified tax report. This is especially important for users who received game token airdrops and need accurate FMV records from 2024–2025.

TON Tax Summary

• Telegram wallet transactions are fully taxable — casual interface, real tax obligations
• Jetton swaps are taxable disposals, same as ERC-20 swaps
• Staking rewards are ordinary income at FMV on receipt
• Game token airdrops (Notcoin, Hamster Kombat) are ordinary income
• NFT sales are capital gains — track your purchase price
• No broker sends you a 1099 — you must self-report

For a broader view of crypto tax fundamentals, see our Crypto Tax Basics guide and Airdrop Tax Guide.

Simplify Your TON Taxes

Blockchain Smart Tax supports TON natively — automatic transaction import, DeFi swap classification, staking reward detection, and per-wallet cost basis tracking as required by the IRS under Rev. Proc. 2024-28. We parse TON transfers, Jetton swaps, and staking activity on the TON blockchain automatically.

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• Blockchain Smart Tax (from $25/year) — automatic wallet discovery across 550+ chains, all cost basis methods free on every plan, and completely free during beta with 10,000 transactions included

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