Crypto Tax Calculator for US Investors

No. This calculator estimates federal tax only. State income tax on crypto gains varies by residence — some states have no income tax at all, while others tax crypto gains at standard state rates.

KoinX is certified under ISO 27001:2022 and SOC 2 Type II and is fully GDPR compliant. The platform connects to exchanges through read-only API access, meaning it cannot move funds or execute trades — assets and login credentials remain entirely under the user’s control at all times.

KoinX supports integrations with 800+ exchanges, wallets, and blockchains, including Coinbase, Kraken, Binance.US, and Gemini, as well as DeFi protocols and self-custody wallets. Connect via API or CSV import and all transactions across every source consolidate automatically into a single tax dashboard.

Yes. KoinX generates an IRS Form 8949 report listing every crypto disposal with the exact columns the IRS requires, including description, date acquired, date sold, proceeds, cost basis, and gain or loss. Transactions are automatically split into short-term and long-term sections for transfer to Schedule D.

Yes. KoinX generates a dedicated TurboTax Gain-Loss Report as a CSV file formatted for direct import into TurboTax. Download the file from the KoinX dashboard, navigate to 'Investment Income' in TurboTax, and upload the CSV — TurboTax then auto-populates Schedule D with short-term and long-term capital gains.

The IRS classifies cryptocurrency as property under IRS Notice 2014-21, not as currency. Every sale, trade, or spending of crypto is a taxable disposal subject to capital gains tax. Crypto received through mining, staking, airdrops, or as salary is taxed as ordinary income at the applicable federal rate on the day of receipt.

Yes. The IRS taxes NFTs under the same rules that apply to other crypto assets. Buying an NFT with cryptocurrency is a taxable disposal of the crypto used, and selling or trading an NFT triggers capital gains tax on any profit. Under IRS Notice 2023-27, some NFTs may be treated as collectibles, which can attract a higher long-term capital gains rate of up to 28%.

Holding assets for more than 12 months qualifies for lower long-term capital gains rates. Selling crypto at a loss can offset capital gains and reduce up to $3,000 of taxable income each year. Donating crypto to a qualified 501(c)(3) charity is fully tax-deductible at the asset's fair market value on the donation date.

US taxpayers report crypto disposals on Form 8949 and summarize totals on Schedule D. Crypto income from staking, airdrops, or freelance payments is reported on Schedule 1 or Schedule C depending on whether it is business income. All taxpayers must also answer the digital asset question on Form 1040, even if no taxable crypto activity occurred during the year.