Crypto Tax Calculator 2024 - 2025

Capital gains are profits made from disposing of a capital asset - like stocks and crypto. Traditionally, a disposal meant selling your capital asset. For crypto, disposals include selling, trading, and spending crypto. Any capital gain you make will be subject to either short or long-term capital gains tax, depending on how long you held the asset before you disposed of it.

It depends on your profit, how much you earn in total annual income, and how long you held your asset before disposing of it. Short-term capital gains are taxed at your federal and state Income Tax rate, while long-term capital gains are taxed between 0% to 20% depending on your income.

Short-term capital gains are gains from assets you held for less than a year before disposing of them. Long-term capital gains are gains from assets you held for more than a year before disposing of them.

Your income dictates what capital gains tax bracket you fall into. Lower earners will fall into the 0% or 15% tax bracket for long-term gains, while higher earners will fall into the 20% tax bracket for long-term gains. For short-term gains, your gains are taxed at your federal and state income tax rate.

Yes. You’ll pay state taxes on capital gains, as well as federal taxes.

Our crypto tax calculator takes the figures you enter and deducts your purchase price from your selling price, less any allowable fees. Then it takes those figures and applies the tax rates based on your location and filing status to estimate your tax liability.

This depends on how long you’ve held your investment, your total annual income, and the transaction you’ve made. Crypto income and short-term gains may be taxed at up to 37%, plus any state taxes. Meanwhile, long-term gains from selling, trading, and spending crypto are taxed between 0% - 20% depending on your income. Long-term gains from NFTs deemed collectibles may be taxed at up to 28%.

Your purchase price is whatever you paid for your crypto, plus any allowable fees. It’s also known as your cost basis. In instances where you have multiple assets of the same kind, the IRS states investors should use wallet-based cost tracking. Koinly can help with this, and you can learn more in our cost basis guide.

Our tool uses your annual income to figure out what tax bracket you fall into - on both a federal and state level - so it can more accurately estimate the amount of tax due.

While federal tax rates are set, state tax rates vary. Entering your location allows our tool to identify the state tax rates where you reside to give you a more accurate estimate of your tax liability.

How long you owned your crypto before disposing of it directly impacts the amount of tax you’ll pay. Short-term gains from assets held less than a year are taxed at your Income Tax rate, while long-term gains are taxed at a substantially lower long-term Capital Gains Tax rate.

Your filing status determines your filing requirements, standard deduction, eligibility for certain credits, and your correct tax. There are five different filing statuses - single, married filing jointly, married filing separately, head of household, and qualifying widow(er) with dependent child. This tool only supports more common filing statutes.

Koinly works with CPAs and leading crypto tax experts to ensure it follows IRS guidance on crypto tax. For this tool, we sourced our tax rates from the IRS, state government sites, and the Tax Foundation to give accurate estimates. However, this tool should only be used for estimation purposes only, and not as financial advice or consultation.

In the US, the tax deadline falls on April 15 each year (though may be extended in light of national holidays). Any tax due is payable by this date at the very latest, although many taxpayers are required to make estimated tax payments throughout the financial year.

There are many steps investors can take throughout the financial year in order to optimize their tax liability - including using Koinly’s tax optimization tool to identify unrealized losses and gains to harvest. Learn more in our tax loss harvesting guide.

Purchase and sale fees are deductible! This means they can be factored in as allowable expenses when calculating your cost basis, so you can use fees to reduce your tax liability.

Crypto is subject to Capital Gains Tax and Income Tax in the US, depending on your specific transactions. This means you may pay up to 37% on crypto income and short-term gains, and generally up to 20% in Capital Gains Tax on long-term gains. Learn more in our US crypto tax guide.