Crypto Taxes 101: The Complete Step-by-Step Crypto Tax Guide



For more information on the tax implications of crypto, checkout our complete guide:

Learn how to report your cryptocurrency on your taxes in 4 easy steps with this instructional video.

Questions? Reach out to our live-chat support team at www.cryptotrader.tax

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32 thoughts on “Crypto Taxes 101: The Complete Step-by-Step Crypto Tax Guide

  • April 20, 2022 at 12:12 pm
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    If you think I’m paying $100 for this you are high as shit

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  • April 20, 2022 at 12:12 pm
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    Hello, I sold a few of my sports memorabilia items and was paid in bitcoin. How do I classify that for tax purposes? I got the missing cost basis message because I have not yet input this. Please help!

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  • April 20, 2022 at 12:12 pm
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    Capital gains only applies to assets held for over a year. So this video confused me – does Cryptotrader Tax not give a 8949 for transactions that count as income , i.e. held for less than one year???

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  • April 20, 2022 at 12:12 pm
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    Does the platform generate cost basis and if so where do I find it?

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  • April 20, 2022 at 12:12 pm
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    it would be great if they explained how things like scams and rug pulls are reported, what about gas fees, lost keys, dead coins…

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  • April 20, 2022 at 12:12 pm
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    the problem is that if you traded a coin for a rug pull .. you still owe taxes on the coin you sold, and lost all your money to the rug pull. can't report the rug pull as a loss because you can't sell it, it just went to 0

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  • April 20, 2022 at 12:12 pm
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    If I buy BTC for 10k and it goes up to 60k total, than I pull out my initial 10k investment and keep my gains (50k) in my wallet. Is this a taxable event?

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  • April 20, 2022 at 12:12 pm
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    Homepage shows Metamask integration, but as best I can tell, there is no defi/metamask integrations. You are strictly CEX integrated. Is this true?

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  • April 20, 2022 at 12:12 pm
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    If I have purchased crypto and am just holding, there would be no tax event, correct?

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  • April 20, 2022 at 12:12 pm
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    When you sign up for an exchange they give you 5 or 10 bucks. Does this need to be reported? If you filed already and did not enter these sign on bonus into your taxes, should you file a amendment?

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  • April 20, 2022 at 12:12 pm
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    Good day! Please advise me about this case.

    I am using FTX apps. I am actually trying to withdraw on this FTX Apps and the FTX app asked me to pay taxes to the FTX apps itself. Is this true? I have to pay the the taxes before i can wothdraw the money and transfer it to my crypto wallet?

    Please answer. Thank you!

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  • April 20, 2022 at 12:12 pm
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    Thank you brother good stuff. What I'm confused about is let's say you buy $25 here a hundred bucks here a thousand bucks here and then 69 or 12 months later you have sold $1,000 here $2,000 there how do you know the purchase price versus the sales price when you've only bought pieces here and there at different prices but you do sell at a singular price? I don't understand how to calculate a loss or a gain in that regard. In your examples where it's a fixed dollar amount one time and then sold that is very clear but when you have like dollar cost average where you're buying every week or something how do you know the price points? Sorry I'm not very smart but I've been investing in a couple years and finally took a little bit of profits rather sold at loss and just trying to figure out how to do the taxes now

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  • April 20, 2022 at 12:12 pm
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    What happen when I transfer crypto from one wallet to another wallet, let says 1 coin at $1, then transfer to another wallet then it went to $5, then transfer it back to the original wallet. Which wallet do I pay the gain tax?

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  • April 20, 2022 at 12:12 pm
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    How would I add my futures trading? It doesn't seem to allow me to do so on the website.

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  • April 20, 2022 at 12:12 pm
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    What if most of the crypto i have purchased and traded is associated with a Self directed Roth IRA. Where do I tell the govnm't that this is a roth ira?

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  • April 20, 2022 at 12:12 pm
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    for 2021 I earned $47 in bonus Bitcoin from Sofi crypto invest for using SoFi Credit Card. Do I need to report this on my taxes?

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  • April 20, 2022 at 12:12 pm
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    Not that the federal government would agree with this reasoning, but just as a loss in value on a crypto currency would be either an ordinary loss or capital loss for tax purposes, the loss in purchasing power from holding U S dollars due to inflation should also be a deductible loss. Inflation has two primary root causes, monetary policy resulting from Federal Reserve actions and fiscal policy resulting from Federal Government spending. Ordinary citizens who do not engaged in crypto currency transactions pay a tax in the form of inflation. The who trade in crypto currencies and ultimately settle transactions that must be denominated in U S dollars either report gains that are overstated or losses that are understated because of the loss in purchasing power of the dollar. In the short run this is merely another money grab by the Federal Government. The longer term strategy is of course to ramp up inflation to break the back of crypto currencies. Gresham’s Law endures. Bad money (the dollar) drives out good money (crypto), and in this instance it is amplified by tax, fiscal and monetary policy.

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  • April 20, 2022 at 12:12 pm
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    does it do Nexo??????

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  • April 20, 2022 at 12:12 pm
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    It's not like most other joke when It comes to working with πŸ‘†πŸ‘†, dude has got a major way of getting things done
    I'm glad I could work with him 🀝🀝.

    Reply
  • April 20, 2022 at 12:12 pm
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    It's not like most other joke when It comes to working with πŸ‘†πŸ‘†, dude has got a major way of getting things done
    I'm glad I could work with him 🀝🀝.

    Reply
  • April 20, 2022 at 12:12 pm
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    Phantom wallet please!

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  • April 20, 2022 at 12:12 pm
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    My tax professional does not even know what crypto is.

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  • April 20, 2022 at 12:12 pm
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    It was perfect working with πŸ”πŸ” he's a guru when it comes to crypto recovery..

    Reply
  • April 20, 2022 at 12:12 pm
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    It was perfect working with πŸ”πŸ” he's a guru when it comes to crypto recovery..

    Reply
  • April 20, 2022 at 12:12 pm
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    It was perfect working with πŸ”πŸ” he's a guru when it comes to crypto recovery..

    Reply
  • April 20, 2022 at 12:12 pm
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    What is the cost of using your service?

    Reply
  • April 20, 2022 at 12:12 pm
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    i want ask a question…after calculating profit and loss for tax without cashout into fiat money I need to pay tax in what form crypto or fiat money? tq

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  • April 20, 2022 at 12:12 pm
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    I feel like the website looks different from this video. it would be helpful going over how to do things like having the website calculate your gains and losses for you. im not seeing how to do that.

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  • April 20, 2022 at 12:12 pm
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    Thank you so much

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  • April 20, 2022 at 12:12 pm
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    They do not accept metamask or yoroi wallets. πŸ™

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  • April 20, 2022 at 12:12 pm
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    They need to make it easier to report!

    Reply

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