Our software works with complex DeFi products. We also support the most popular LP and staking protocols. Just add your public wallet address. Our platform is trusted by industry leading accountants who value detailed and accurate reports.
If you are an accountant please contact us to learn more about our accountant portal and corporate pricing. We support hundreds of exchanges, blockchains, and wallets. Been trading on a DEX? Got staking rewards? Participated in an ICO? We have you covered with our categorization algorithm. Our detailed reports gives a breakdown of realized capital gains and income. Share this with your accountant or file via your tax software. You can be liable for both capital gains and income tax depending on the type of cryptocurrency transaction, and your individual circumstances.
For example, you might need to pay capital gains on profits from buying and selling cryptocurrency, or pay income tax on interest earned when holding crypto. The way cryptocurrencies are taxed in most countries mean that investors might still need to pay tax, regardless of whether they made an overall profit or loss.
Depending on your circumstances, taxes are usually realized at the time of the transaction, and not on the overall position at the end of the financial year. In most countries you are required to record the value of the cryptocurrency in your local currency at the time of the transaction.
This can be extremely time consuming to do by hand, since most exchange records do not have a reference price point, and records between exchanges are not easily compatible. You just need to import your transaction history and we will help you categorize your transactions and calculate realized profit and income. You can then generate the appropriate reports to send to your accountant and keep detailed records handy for audit purposes.
We always recommend you work with your accountant to review your records. If you would like your accountant to help reconcile transactions, you can invite them to the product and collaborate within the app. We also have a complete accountant suite aimed at accountants. No matter what activity you have done in crypto, we have you covered with our easy to use categorization feature, similar to Expensify. Our subscription pricing is per year not tax year, so with an annual subscription you can calculate your crypto taxes as far back as The process is the same, just upload your transaction history from these years and we can handle the rest.
We have an annual subscription which covers all previous tax years. If you need to amend your tax return for previous years you will be covered under the one payment. Yes, CryptoTaxCalculator is designed to generate accountant friendly tax reports. You simply import all your transaction history and export your report. This means you can get your books up to date yourself, allowing you to save significant time, and reduce the bill charged by your accountant.
You can discuss tax scenarios with your accountant, and have them review the report. We cover hundreds of exchanges, wallets, and blockchains, but if you do not see your exchange on the supported list we are more then happy to work with you to get it supported. Just reach out to info cryptotaxcalculator. We do! We have integrations with many NFT marketplaces, as well as categorization options for any NFT related activity minting, buying, selling, trading.
Yes, there is! You can use our software to categorize all of your transactions, and will only need to proceed to payment once you want to view your tax report. What is a CEX? A Centralized Exchange CEX is a platform where users can trade cryptocurrencies, with an intermediary controlling the process in a centralized manner.
These exchanges are similar in design to traditional brokerages; the intermediary controls…. Cryptocurrency tax is a new and emerging space in Canada, with much speculation about different crypto scenarios and how they are taxed. This guide breaks down the implications of cryptocurrency transactions from a tax perspective, to put you in a better….
Learn three different ways to calculate profit and loss, and find out which of the methods works best for your investing or trading lifestyle here. Manage your portfolio better by calculating your bitcoin and other crypto profits and losses. Here are 3 ways to analyze the performance of your crypto trades. Not only will you be able to manage your portfolio better by removing assets performing poorly, you can also change your trading or investing strategies to optimize your overall portfolio performance.
Calculating your profit and losses is a great way to monitor your portfolio. Read on to learn how you can do so in three different ways. We offer a wide range of products that can help kickstart your crypto journey. We outline three simple ways to do so below. Transaction-to-transaction is a method more suited for active crypto traders. Step 1: Calculate the cost price and value of each trade in your local currency. Step 2: Compare the difference of trade and cost value to determine the profit or loss.
Note: Be sure to include trading fees incurred as part of the cost price. If only one trading pair is involved:. If multiple trading pairs are involved, please note the following:. The cost value of the first trade A, is not the same as the cost value of the second trade B.
Instead, the new cost value of second trade B will be the trade value of first trade A. Add all the profits from each trade and deduct all fees incurred. They are not representative of real prices on the dates mentioned below. Traders should, however, take into consideration all trading fees as part of cost value. Remember to take into consideration any trading fees incurred throughout the trades.
Keep in mind that the unrealized profit, while valued at 5, USD, is subjected to market volatility and will vary according to the price of assets you are holding in this example, SAND. Your profits will be realized when you sell them for cash. To avoid market volatility and to realize your profits, you should convert your holdings to a stablecoin like BUSD and sell it for cash.
Year-to-Date YTD simply compares the value of your balances at the start of the year with the end of the year of a calendar year. This particular calculation method is more suitable for long-term crypto investors who HODL.
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Our crypto profit calculator makes calculations for 20 types of cryptocurrency. Use our Cryptocurrency Profit Estimator to estimate the value of your fund. Coin profit/loss calculator. Investment. $. ≈ BTC. Initial Coin Price. $. Selling Coin Price. $. Investment Fee. Calculate investment profit/loss for crypto or stock markets with our simple and easy to use cryptocurrency PnL calculator, and see how much your profit or.