How does the free crypto tax calculator work?
Use this free crypto tax calculator to estimate the tax impact of a crypto sale.
Add your buy price, sell price, income, filing status, fees, and state to get a quick federal and state tax estimate. The process is simple:
Enter your profit or loss and select your state.
The calculator applies the latest IRS capital gains brackets with your state rate.
Fees you include are either added to your cost basis or subtracted from your proceeds to give you the most accurate result.
Pro tip
This calculator is for one-off checks or when planning a sale. Bookmark it and use it any time, no sign-up required. Use this calculator for basic, one-off calculations. Use our crypto tax software for your annual tax filing.
How is cryptocurrency taxed?
The IRS treats cryptocurrency as property. Selling, swapping, or spending it generally creates a capital gain or loss based on the difference between your cost basis and its fair market value at disposal.
Gains on crypto held for one year or less are generally taxed at ordinary income rates of 10% to 37%. Crypto held for more than one year typically qualifies for long-term capital gains rates of 0%, 15%, or 20%.
Crypto received as income, including staking rewards, is generally taxed as ordinary income when you gain control of it. Its fair market value at that time becomes your cost basis for a later sale, swap, or spend.
Calculating crypto capital gains
Calculate your crypto capital gains or losses by subtracting the cost basis (the price at acquisition with fees) from the sale price of your crypto (with fees). TokenTax helps facilitate this by automatically fetching transaction details and applying the appropriate tax rules for short- or long-term gains.
What affects your crypto taxes
Your location
Know your filing status
The importance of your annual income
Fees in relation to your tax bill
Length of ownership