How to calculate crypto taxes in 2024?

To calculate crypto taxes in 2024, use our free crypto tax calculator. Enter your crypto gains, losses, and income from staking/mining. The calculator computes capital gains taxes (0-20% for long-term, ordinary rates for short-term) and ordinary income tax on staking rewards.

How to calculate crypto gains and losses?

Calculate crypto gains by subtracting your cost basis from the sale price. Use FIFO, LIFO, or HIFO methods to determine which coins you sold. Our crypto gains calculator automatically computes short-term (≤1 year) and long-term (>1 year) capital gains with proper tax rates.

What is the best crypto tax calculator for 2024?

The best crypto tax calculator for 2024 should support multiple cost basis methods (FIFO, LIFO, HIFO), calculate both capital gains and ordinary income, handle staking/mining income, and provide accurate tax estimates. Our free calculator includes all these features with professional-grade accuracy.

Are crypto tax calculators free and accurate?

Yes, our crypto tax calculator is completely free and provides professional-grade accuracy. It uses current 2024 tax rates and IRS guidelines for cryptocurrency taxation. The calculator supports all major cost basis methods and handles complex scenarios like loss carryforwards.

How are crypto mining taxes calculated?

Crypto mining taxes are calculated as ordinary income at the fair market value when mined, plus potential capital gains when sold. Use our crypto mining tax calculator to compute both the initial income tax and any subsequent capital gains tax on appreciation.

What crypto tax rate applies in 2024?

Crypto tax rates in 2024: Short-term gains taxed as ordinary income (10-37%), long-term gains at preferential rates (0%, 15%, or 20% based on income), and staking/mining income as ordinary income. Our calculator applies the correct 2024 tax brackets automatically.

Cryptocurrency Tax Calculator

Quick and accurate cryptocurrency tax calculator for US taxpayers. Calculate capital gains, losses, and income from crypto activities with professional-grade accuracy.

Tax Year

Filing Status

Taxable Annual Income (after deductions, excluding crypto)*($)

Total Crypto Purchases*($)

Total Crypto Sales*($)

Staking Income($)

Mining Income($)

Airdrop Income($)

Prior Year Loss Carryover (optional)

For better accuracy, split by short-term and long-term losses

Short-term Loss Carryover($)

Long-term Loss Carryover($)

For best accuracy, split your loss carryover by character. If you only know the total, use the Legacy Loss Carryover field below and we'll estimate the split.

Legacy Loss Carryover (total amount)($)

Short-term / Long-term Split

This is a heuristic estimate. Use detailed mode for precise calculations.

(60% short-term, 40% long-term)

0% ST50% ST100% ST

Results

Enter values and click Calculate to see results

Methodology

This calculator uses official IRS tax brackets and follows proper US tax calculation sequences including LTCG stacking over ordinary income, character-specific loss carryover handling, cross-netting of gains/losses, and the $3,000 capital loss ordinary income offset. It provides professional-grade accuracy while maintaining simplicity through heuristic holding period splits.

Important Disclaimers:

Educational estimate only. Not tax advice.
US tax rules only. State taxes not included.
Uses simplified assumptions about holding periods via ST/LT split.
Excludes NIIT (3.8%) and self-employment tax on mining income.
Enter taxable income (after standard/itemized deductions).
Consult a tax professional for specific situations and actual filing.

About This Calculator

1. How does this Cryptocurrency Tax Calculator work?

This calculator uses official IRS tax brackets for 2024-2025 and follows proper US tax rules including LTCG stacking over ordinary income, character-specific loss carryovers, and the $3,000 capital loss ordinary income offset. It provides professional-grade accuracy with a simplified interface, using heuristic short-term/long-term splits for quick estimates.

2. What crypto activities does this calculator cover?

The calculator handles all major crypto tax events: capital gains/losses from trading, ordinary income from staking/mining/airdrops, character-specific loss carryovers from previous years, and proper cross-netting of gains and losses. It applies the correct tax treatment for each activity type according to IRS rules.

3. How accurate are the tax calculations?

The calculator uses official IRS tax brackets and follows proper tax calculation sequences including LTCG stacking and loss netting rules. While it uses simplified assumptions about holding periods (via the ST/LT split slider), it provides professional-grade accuracy for most crypto tax scenarios. For complex situations with specific lot tracking needs, consult a tax professional.

4. What are the limitations of this calculator?

Key limitations include: 1) Uses heuristic holding period splits rather than actual transaction dates, 2) Excludes state taxes and NIIT (3.8%), 3) Doesn't include self-employment tax on mining income, 4) Assumes taxable income is entered (after deductions), 5) US tax rules only. The calculator clearly notes these limitations and recommends professional consultation for complex situations.

5. How should I use the loss carryover fields?

For best accuracy, split your prior year loss carryovers by character: enter short-term losses in the ST field and long-term losses in the LT field. If you only know the total amount, use the Legacy Loss Carryover field and the calculator will estimate a 60/40 ST/LT split. Character-specific carryovers provide more accurate tax calculations.

6. What should I do with the results?

Use the results for tax planning and estimation purposes. The calculator provides a comprehensive breakdown including total tax liability, gain/loss details, and any carryforward amounts. Download the PDF report for your records. Remember this is an educational estimate - consult a tax professional for actual tax filing and complex situations.