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How crypto is taxed
In many countries, including the US, UK, Canada and Australia, selling, swapping or spending crypto can trigger a capital gains tax event. Your gain is generally the sale proceeds minus your cost basis and fees. Many tax systems tax assets held longer than a year at lower rates than short-term gains.
What tax rate should I enter?
Rates depend on your country, income and filing status, and they change over time. Check your tax authority's current rates or ask a tax professional, then enter your short-term and long-term rates.
Is this tax advice?
No. This is a simplified estimate for educational purposes only and does not account for every rule, deduction or jurisdiction.
How crypto is usually taxed in the US
In the United States, the IRS treats cryptocurrency as property. That means you generally owe capital gains tax when you dispose of crypto for more than you paid, and you can claim a capital loss when you sell for less. Common taxable events include:
- Selling crypto for dollars or another fiat currency.
- Trading one cryptocurrency for another, including swaps into stablecoins.
- Spending crypto on goods or services.
- Receiving crypto as income, for example from mining, staking rewards or payment for work, which is generally taxed as ordinary income when received.
Buying crypto with dollars and simply holding it, or moving it between your own wallets, is generally not a taxable event.
Short-term vs long-term gains
How long you held the asset matters. Gains on crypto held for one year or less are short-term and taxed at your ordinary income rate. Gains on crypto held for more than a year are long-term and taxed at the lower long-term capital gains rates. The calculator applies this split to give a rough estimate.
Keeping records
For every disposal you need the date acquired, the date sold, the cost basis (what you paid, including fees) and the proceeds. Exchanges in the US have begun issuing Form 1099-DA, but it may not include cost basis for coins you moved between platforms, so keep your own records. A crypto-aware tax tool or accountant can help reconcile trades across exchanges and wallets.
This calculator gives a simplified estimate for education only. It is not tax advice, rules differ by country and change over time, and your situation may include factors it does not cover. Check with a qualified tax professional before you file.