Cryptocurrency Tax Calculator 2023-2024
Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.
The investing information provided on this page is for educational purposes only. NerdWallet, Inc. does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments.
When you sell cryptocurrency, you'll owe capital gains taxes on any profits generated from the crypto sale. This is the same tax you pay when you sell traditional investments, like stocks or mutual funds.
The crypto tax rate you pay depends on how long you held the cryptocurrency before selling. If you held it for a year or less, you'll pay the short-term rate, which is equal to ordinary income tax rates. If you owned it for more then a year, you'll pay the long-term rate, which is lower.
You can estimate what your tax bill from a crypto sale will look using the crypto capital gains tax calculator below. The calculator is for sales of crypto in 2023, with taxes owed in 2024. You'll need to know the price you bought and sold your crypto for, as well as your taxable income for the year.
NerdWallet rating 4.8 /5 | NerdWallet rating 3.9 /5 | NerdWallet rating 3.5 /5 |
Fees 0% - 3.99% varies by type of transaction; other fees may apply | Fees $0 per trade | Fees 1% spread |
Account minimum $0 | Account minimum $0 | Account minimum $0 |
Promotion Get $200 in crypto when you sign up. Terms Apply. | Promotion None no promotion available at this time | Promotion None no promotion available at this time |
When it's time to file, you'll need to record the details of each individual crypto transaction. This can be done by hand, but it becomes cumbersome if you make hundreds of sales throughout the year. Unlike many traditional stock brokerages, it's not common for crypto exchanges and tax preparation software to communicate seamlessly. You can use crypto tax software, which organizes and moves crypto sales information to popular tax preparation software, like TurboTax.
» Calculate your crypto profits or losses
On a similar note...
