Crypto Tax Calculator (CTC) simplifies the process by compiling your transaction history, calculating tax obligations, and formatting reports according to your country’s tax regulations.
This guide will walk you through the process of generating tax reports, selecting financial years and inventory methods, and available crypto tax reports.
Import and Review Your Transactions
Before generating tax reports, ensure that all your crypto transactions have been imported and reviewed following our guides:
You can then head to the Report page to download your reports.
Select Report Period
You can select a preset financial year (aligned with your country’s tax regulations) or set a custom date range for your report.
With a CTC subscription, you can generate reports for any financial year, including past years dating back to 2013, at no additional cost. Custom date reports are also available by specifying a start and end date.
Check Inventory Method
CTC offers several common inventory methods to calculate your capital gains:
Inventory method | Description |
First In, First Out (FIFO) | Sells the oldest purchased assets first. |
Last In, First Out (LIFO) | Sells the most recently purchased assets first, which may reduce short-term gains. |
Highest In, First Out (HIFO) | Sells the most expensive assets first, potentially minimizing taxable gains. |
Most Tax Effective | Prioritizes selling assets to maximize losses or minimize gains, optimizing tax outcomes. |
Average Cost | Calculates a uniform cost basis by averaging the total purchase cost of all assets. |
CTC provides country-specific inventory methods to ensure compliance with tax regulations in some jurisdictions like the UK and Canada. Learn more in our country-specific report guides.
You can also apply different inventory methods for different financial years. For details, check out our What Inventory Method Should I Use? guide.
Note: Inventory methods impact tax calculations, consult a tax professional before making changes.
Check Tax Settings
Crypto tax rules can be complex, so CTC offers flexible tax settings to help you customize how your transactions are treated based on your specific situation. Before generating your crypto tax reports, review your tax settings to ensure accuracy. Explore our guides to understand how these settings work.
Long Term Threshold
In the Tax Settings section, you can adjust your long-term and short-term thresholds. These settings will be reflected in your capital gains reports.
Note: CTC does not apply long-term capital gains discounts. It provides the necessary figures, but you must apply the appropriate long/short-term rules based on your tax situation.
Download Reports
Click "Download Report" or use the shortcut for quick access to popular reports.
In the report menu, you can generate tax reports in CSV or PDF format. Keep in mind that this example shows the US report menu—your options may vary based on your country settings.
CTC does not charge extra for additional reports, so you can generate them as often as needed with an active subscription.
Crypto Tax Calculator Common Reports
CTC provides various tax reports to help with compliance and record-keeping:
Report Name | Description |
A high-level overview of your complete trading activity, including capital gains, income, and expenses. | |
Breakdown of capital gains and losses from buying, selling, and trading crypto, including short- and long-term classifications. | |
Details of all crypto income sources, such as staking rewards, mining, airdrops, and interest. | |
Records miscellaneous crypto-related expenses, including fees and other potentially deductible costs. | |
A detailed ledger of all transactions. | |
Summarizes your crypto holdings at the beginning and end of the financial year, reflecting unrealized gains/losses. | |
Summarizes margin, futures, and derivatives trading profits. | |
Opening and closing balances, cost basis, and valuation of holdings. | |
Lists all transactions, their source and modifications recorded by users. | |
Detailed record of every outgoing gift and lost/stolen transaction. | |
Start of Year Holdings Report | Summary of your holdings at the start of the year. |
For country-specific report guides, visit our Country-Specific Guides section.
Troubleshooting Report Issues
If you believe your tax report has errors, check the following:
All transactions from all time are imported. Missing transactions can impact calculations.
Items that need to be reviewed are resolved. CTC flags inconsistencies in transaction data. Ensure to review them for accuracy.
Ensure you understand the tax implications of your trading activity. In many countries, swapping one cryptocurrency for another is considered a taxable event. Check out our country-specific tax guides on our blog for more details.
Still need help?
If you have any questions or need help, we're here for you! Feel free to reach out to us via the in-app chat in the bottom-right corner or send your inquiries to [email protected].