Cryptocurrency Tax Calculator
Calculate your cryptocurrency tax liability from trading, mining, and staking
Additional Information and Definitions
Total Purchase Amount
Total amount spent purchasing cryptocurrency (in your local currency)
Total Sale Amount
Total amount received from selling cryptocurrency (in your local currency)
Mining Income
Total value of cryptocurrency received from mining activities
Staking Income
Total value of cryptocurrency received from staking activities
Trading Fees
Total transaction fees, gas fees, and exchange fees
Capital Gains Tax Rate
Your applicable tax rate for cryptocurrency capital gains
Income Tax Rate
Your applicable tax rate for mining and staking income
Cost Basis Method
Method used to calculate the cost basis of sold cryptocurrency
Estimate Your Crypto Tax Liability
Calculate taxes on cryptocurrency gains and income worldwide
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Understanding Cryptocurrency Tax Terms
Key terms to help you understand cryptocurrency taxation
Cost Basis:
The original purchase price of cryptocurrency plus transaction fees, used to calculate capital gains or losses
Mining Income:
Cryptocurrency received as reward for mining activities, typically treated as self-employment or business income
Staking Rewards:
Cryptocurrency earned from participating in proof-of-stake validation, often treated as investment income
FIFO (First In, First Out):
Cost basis method that assumes the first units purchased are the first ones sold
Gas Fees:
Transaction fees paid to process cryptocurrency transactions on the blockchain, which may be tax-deductible
5 Shocking Truths About Crypto Taxation That Could Save You Money
Cryptocurrency taxation is complex and evolving. Here are some crucial insights that could impact your tax liability.
1.The Wash Sale Rule Gap
Unlike traditional securities, many countries don't apply wash sale rules to cryptocurrencies. This means you can sell crypto at a loss and immediately rebuy it to harvest tax losses while maintaining your position - a strategy that's not allowed with stocks.
2.The Mining vs. Staking Distinction
Mining and staking income are often taxed differently. Mining is typically considered self-employment income in many jurisdictions, while staking rewards might be treated as investment income, potentially resulting in different tax rates and deduction possibilities.
3.The NFT Tax Twist
NFT transactions can trigger multiple taxable events. Creating and selling an NFT might be considered business income, while trading NFTs could be subject to capital gains tax, and receiving NFT royalties might be treated as passive income.
4.The Hard Fork Tax Surprise
When cryptocurrencies undergo hard forks or airdrops, some jurisdictions consider the received tokens as immediate taxable income at fair market value, even if you never claimed or sold them.
5.The International Exchange Challenge
Using international crypto exchanges can trigger additional tax reporting requirements in many countries. Some jurisdictions require reporting of all foreign exchange holdings above certain thresholds, including cryptocurrency holdings.