Estimate your total crypto tax bill with gain/loss netting.
ST: $660 · LT: $1,050
Ordinary loss deduction: $0
Email your crypto strategy breakdown
No spam, ever. We only email you about topics you care about. Unsubscribe anytime.
Net ST = ST Gains − ST Losses
Net LT = LT Gains − LT Losses
Cross-netting: Excess ST losses offset LT gains, and vice versa.
Sum all gains minus losses. Apply short-term or long-term rates based on holding period. Add state tax. High earners add 3.8% NIIT.
Currently crypto does NOT have a wash sale rule. You can sell at a loss and immediately repurchase, locking in the tax loss. Congress may change this.
Hold for 1+ year (long-term rate), tax-loss harvest, donate appreciated crypto to charity, use crypto in a self-directed IRA, time sales in low-income years.
Mining income is self-employment income — you pay SE tax (15.3%) plus income tax. Staking rewards are likely ordinary income but not SE taxable.
IRS receives 1099 data from major exchanges. Unreported crypto is considered tax fraud. File amended returns for past years if needed.
Calculations are for educational purposes only. Consult a qualified financial advisor for personalized advice.