Free Crypto Tax Calculator for US Investors 2026
Capital gains on crypto are taxed by the IRS like any other capital asset. Use this free calculator to estimate your federal tax liability — short-term (held ≤ 12 months) is taxed as ordinary income, long-term (> 12 months) gets the favorable 0%/15%/20% brackets. This tool is educational, not tax advice — always confirm with a CPA before filing.
Need more than an estimate? Koinly auto-imports your trades from 700+ exchanges, computes short and long-term gains across every wallet, and generates IRS Form 8949 + Schedule D ready to file — free up to 10,000 transactions/year.
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How US Crypto Taxes Work in 2026
The IRS treats cryptocurrency as property, not currency. Every taxable event — selling for USD, swapping coin A for coin B, paying for goods, receiving staking/mining rewards — must be reported on Form 8949 and Schedule D. Capital gains rules apply.
Short-term gains (held ≤ 12 months) are taxed at your ordinary income tax bracket — anywhere from 10% to 37% federal in 2026. Long-term gains (held > 12 months) get the lower long-term capital gains rates: 0% up to $48,350 single ($96,700 MFJ), 15% from there to $533,400 single ($600,050 MFJ), and 20% above. State taxes are additional and vary widely.
Beyond the Numbers
Knowing the rate is only half the battle. The other half is having clean records: buy date, sell date, USD basis, USD proceeds, exchange of origin. Most US exchanges (Coinbase, Kraken, Crypto.com) issue Form 1099-B or 1099-MISC — but the basis is often missing or wrong. We strongly recommend reading our KYC explainer to understand what data exchanges report, and our Crypto IRA guide if you want to defer taxes by holding inside a tax-advantaged retirement account.
Frequently Asked Questions
Does this calculator handle wash sales?
The wash sale rule formally applies to securities, not crypto, as of 2026. The IRS has signaled rule changes for crypto in future tax years — confirm with a CPA before relying on this distinction.
What about state taxes?
This calculator covers federal taxes only. State capital gains rates vary from 0% (e.g., Texas, Florida, Tennessee) to 13.3% (California). Add your state rate manually if you want a true total.
Are crypto-to-crypto trades taxable?
Yes. Swapping BTC for ETH triggers a taxable event — you "sold" BTC at fair market value at the moment of swap. Even staking rewards are taxable as ordinary income at the moment they're received.
Can I deduct losses?
Yes. Capital losses offset capital gains dollar-for-dollar. If losses exceed gains, you can deduct up to $3,000 against ordinary income per year and carry forward the rest.