Cryptocurrency Tax Calculator
Calculate cryptocurrency capital gains tax using FIFO, LIFO, HIFO, or Average Cost basis methods. Track multiple trades across different coins, separate short-term from long-term gains, include staking/mining income, and estimate tax owed for the US, UK, Australia, Canada, and custom rates.
Frequently Asked Questions
How is cryptocurrency taxed?
In most countries (US, UK, AU, CA) cryptocurrency is treated as a capital asset. Selling, swapping, or spending crypto is a taxable event — you realize a gain or loss equal to the difference between the sale proceeds and your cost basis.
What cost basis method should I use for crypto?
The US allows FIFO, LIFO, HIFO, or Specific ID. The UK mandates an average-cost pool (section 104 pool). Australia recommends FIFO but allows others. HIFO minimises tax by applying the highest-cost lots first.
What is the difference between short-term and long-term crypto gains in the US?
Crypto held for 12 months or less is taxed at ordinary income rates (up to 37%). Crypto held over 12 months qualifies for long-term CGT rates of 0%, 15%, or 20% depending on your income.
Is staking or mining income taxable?
Yes. In the US, UK, and Australia, staking rewards and mining income are generally taxable as ordinary income at fair market value when received. A subsequent sale is also a taxable event.
Do I have to report crypto losses?
Yes, and you should — losses offset gains. In the US you can deduct up to $3,000 of net capital losses against ordinary income per year and carry forward any remaining losses. The UK allows losses to offset gains within the same tax year or carry them forward.