Crypto Tax Calculator

Calculate your cryptocurrency taxes, capital gains, and cost basis with our comprehensive crypto tax calculator. Support for FIFO, LIFO, and Average Cost methods.

Transactions

About Crypto Tax Calculator

Cryptocurrency tax is calculated on capital gains when you sell, trade, or spend your digital assets. The IRS treats cryptocurrency as property, meaning every taxable event requires calculating the difference between your cost basis and the fair market value at the time of the transaction.

FIFO

First In, First Out - sells oldest crypto first

LIFO

Last In, First Out - sells newest crypto first

Average Cost

Uses average price across all purchases

How to Use This Tool

1

Add Transactions

Enter your buy and sell transactions with dates, amounts, prices, and any fees paid.

2

Select Cost Basis Method

Choose FIFO, LIFO, or Average Cost based on your tax strategy and preference.

3

Review Calculations

The calculator matches sells with buys and calculates gains/losses for each transaction.

4

Get Tax Summary

View your total capital gains, losses, and estimated tax liability.

5

Export Results

Copy or share your tax summary for record-keeping or tax preparation.

Pro Tips

  • Use FIFO for long-term holders to maximize long-term capital gains rates
  • Consider LIFO during market downturns to realize short-term losses
  • Track every transaction including swaps, which are taxable events
  • Document your cost basis for airdrops and mining rewards
  • Consider tax-loss harvesting before year-end to offset gains

Frequently Asked Questions

What is the difference between FIFO and LIFO for crypto taxes?
FIFO (First In, First Out) sells your oldest crypto first, often resulting in long-term capital gains. LIFO (Last In, First Out) sells your newest crypto first, which may result in short-term gains or losses depending on market conditions.
How does the IRS treat cryptocurrency?
The IRS treats cryptocurrency as property. Every sale, trade, or use of crypto is a taxable event. You must report capital gains or losses based on the difference between your cost basis and fair market value at the time of transaction.
Do I need to report crypto if I just hold it?
No, simply holding cryptocurrency is not a taxable event. You only need to report when you sell, trade, spend, or receive crypto as income (mining, staking, airdrops).
What records should I keep for crypto taxes?
Keep records of all transactions including dates, amounts, prices, fees, wallet addresses, and exchange statements. Document the fair market value at the time of each transaction.
Can I deduct crypto losses on my taxes?
Yes, you can offset capital gains with crypto losses. If losses exceed gains, you can deduct up to $3,000 against ordinary income annually, with excess losses carried forward to future years.

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