Frequently asked questions01.How is crypto tax calculated?
You can be liable for each capital profits and profits tax relying on the form of cryptocurrency transaction, and your invididual circumstances. For example, you might want to pay capital profits on profits from shopping for and promoting cryptocurrency, or pay earnings tax on interest earned when conserving crypto.02.I lost money trading cryptocurrency. Do I nonetheless pay tax?
The way cryptocurrencies are taxed in most countries mean that investors would possibly still need to pay tax, irrespective of whether or not they made an basic income or loss. Depending on your occasions, taxes are generally realised on the time of the transaction, and now not on the overall function at the stop of the financial year.03.How do I calculate tax on crypto to crypto transactions?
In maximum nations you are required to report the cost of the cryptocurrency to your nearby foreign money on the time of the transaction. This can be extraordinarily time eating to do with the aid of hand, due to the fact maximum trade records do not have a reference fee point, and records between exchanges aren’t easily well suited.04.How can CryptoTaxCalculator help with crypto taxes?
You just need to import your transaction records and we will help you categorise your transactions and calculate realised earnings and income. You can then generate the ideal reviews to send on your accountant and hold detailed records available for audit purposes.05.Can’t I just get my accountant to try this for me?
We continually endorse you f
igure together with your accountant to check your records. If you would really like your accountant to assist reconcile transactions, you could invite them to the product and collaborate inside the app. We even have a complete accountant suite aimed toward accountants.06.Do you manage non-change pastime?
We handle all non-alternate hobby, including onchain transactions like Airdrops, Staking, Mining, ICOs, and other DeFi interest. No matter what hobby you’ve got finished in crypto, we have you ever included with our clean to use categorisation function, similar to Expensify.07.I actually have not executed my crypto taxes since 2017. Do I Electric Bike Conversion ought to pay for each financial year?
Our subscription pricing is per 12 months not tax year, so with an annual subscription you may calculate your crypto taxes as a long way back as 2013. The procedure is the identical, simply upload your transaction history from those years and we can handle the relaxation.08.How does price paintings?
We have an annual subscription which covers all preceding tax years. If you want to ammend your tax go back for preceding years you’ll be blanketed under the one price. We also offer a 30 day 100% cash back guarantee, where in case you contact our support team you may accumulate a complete refund.09.Can I use my own accountant?
Yes, CryptoTaxCalculator is designed to generate accountant friendly tax reviews. You definitely import all your transaction history and export your record. This means you could get your books up to date yourself, permitting you to save vast time, and decrease the bill charged through your accountant. You can speak tax situations along with your accountant, and feature them evaluation the document.10.What if my exchange isn’t always on the listing of supported exchanges?
We cowl loads of exchanges, wallets, and blockchains, however in case you do now not see your alternate at the supported listing we are extra then satisfied to work with you to get it supported. Just reach out to [electronic mail included] or thru the in-app chat assist function and we are able to get you taken care of.