Why you can trust this guide
There is no one clear rule that says how every single one of your cryptocurrency transactions should be taxed. Instead, the IRS periodically releases guidelines to help you understand your obligations.
Our Head of Tax, Nick Waytula, reviewed these guidelines alongside our expert writing team to help produce this comprehensive guide to crypto gas fees.
In most cases of buying and selling cryptocurrency as a retail investor, you are participating in investing rather than trading. The two are treated differently for tax purposes.
The key difference between investing and trading – along with the different tax treatments, is how losses generated in the crypto-activity can be used.
In their guidance, HMRC have explicitly stated that they would expect it to be exceedingly rare that any crypto-activity constituting buying & selling crypto would be classified as “trading”.
If you are uncertain, speak to a tax advisor as there are always exceptions, including but not limited to, developing tokens and large scale mining.
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.
A
B
C
F
G
M
N
O
P
S
T
U
At the time of writing gas price is 180 Wei and to do a trade on Uniswap cost around $100 in ETH. This is a significant amount for most users, and adding this to your cost basis is an important part in minimizing your taxes. But in most circumstances you will also need to consider the capital gains realized on the ETH you are spending for gas.
Example:
In the above example Satoshi sells $1,000 worth of SUSHI on Uniswap for DAI. To do this he pays $100 in gas using ETH. He originally bought his Sushi for $200, and his ETH for $30 each. Satoshi realized a profit of $800 by selling his sushi (1000 - 200), but he also had $100 worth of gas fees, so he overall realized gain is $700 (1000 - 200 - 100). However he originally bought ETH at $30, and at the time of the transaction ETH was worth $1000, so Satoshi needs to consider the gain in ETH. This would be calculated as $97 ((1000 - 30) * 0.1). As you can see there is a lot going on here.
Fortunately Crypto Tax Calculator is one of the few crypto tax software offerings to carefully consider this scenario. All you need to do is import your Ethereum public wallet address into our app, and we will automatically categorise all these transactions and handle this calculations for you. All you need to do is sanity check the results and you are sorted.
As informações fornecidas neste site são de natureza geral e não constituem aconselhamento fiscal, contábil ou jurídico. Ele foi preparado sem levar em consideração seus objetivos, situação financeira ou necessidades. Antes de agir com base nessas informações, você deve considerar a adequação das mesmas à luz de seus próprios objetivos, situação financeira e necessidades, e procurar aconselhamento profissional. A Crypto Tax Calculator isenta-se de todas as garantias, compromissos e garantias, expressos ou implícitos, e não é responsável por qualquer perda ou dano de qualquer tipo (incluindo erro humano ou de computador, negligência ou outro, ou perda ou dano incidental ou consequente) decorrentes de ou em conexão com qualquer uso ou confiança nas informações ou conselhos deste site. O usuário deve aceitar a responsabilidade exclusiva associada ao uso do material neste site, independentemente da finalidade para a qual tal uso é aplicado ou dos resultados. As informações contidas neste site não substituem o aconselhamento especializado.
¿No estás seguro de la cantidad de impuestos que debes pagar por tu transacción de criptomonedas? Sigue nuestra guía para conocer las normas que se aplican en diferentes situaciones relacionadas con criptomonedas y calcular tu situación fiscal en España
A step-by-step walkthrough of everything you need to know about calculating your MetaMask crypto tax.
The complete guide to understanding and filing your DeFi taxes in the US.
We have developed an integration with Ethereum, to help automate your taxes and categorize all your Ethereum transactions. Follow this guide to import your Ethereum transactions.
Crypto Tax Calculator has integrated Binance into our platform to help users easily calculate their cryptocurrency tax obligations. Users can upload via an API or CSV import following the instructions in this guide.
Learn how Bitcoin is taxed in the U.S., the difference between short and long-term capital gains, and how timing your sale can cut your crypto tax bill.
Bitcoin is taxed as either capital gains or income tax depending on the transaction. Learn how to do your Bitcoin taxes with this guide.
Learn how Bitcoin is taxed in the U.S., the difference between short and long-term capital gains, and how timing your sale can cut your crypto tax bill.
Importe sus transacciones y genere una vista previa del informe gratuita.
