Crypto Tax Calculator
Calculate cryptocurrency capital gains tax based on holding period and tax bracket.
Transaction Details
Tax Analysis
Capital Gain/Loss
$$40000.00
Gain Percentage
400.0%
Tax Type
Short-term Capital Gains
Tax Rate
22%
Tax Breakdown
Federal Tax
$$8800.00
State Tax
$$0.00
Total Tax
$$8800.00
Net Proceeds
$$41200.00
Short-term Capital Gains
Held for 365 days (under 1 year). taxed at ordinary income rate of 22%. Holding longer could save $$2800.00 in taxes.
Crypto Tax Rules
Cost Basis Tracking
Record purchase price for each crypto transaction. IRS requires accurate basis tracking.
Holding Period
Hold over 365 days for lower long-term rates. Short-term taxed at ordinary income rates.
Wash Sales
Crypto wash sale rule unclear. Avoid buying same crypto within 30 days of loss sale.
Reporting Requirements
Report crypto gains on Form 8949 and Schedule D. exchanges must report transactions over $10,000 (starting 2025). Keep detailed records of all purchases, sales, and transfers. NFTs and staking rewards have separate reporting rules.