US Crypto Tax Calculator — Free Form 8949 Report
Turn your exchange exports into Form 8949 rows, Schedule D totals and an income report, with basis tracked wallet by wallet as the IRS now requires. Calculated in your browser, free to download.
Your transaction files never leave your device. How to check this yourself
Figures for general information, not tax advice. Compare proceeds with any Form 1099-DA you received. Disclaimer
How to get your Form 8949 crypto figures
The IRS treats digital assets as property, so selling, swapping or spending them is a taxable event and each one is a line on Form 8949 (IRS: digital assets). For 2025, two things changed at once: brokers started sending Form 1099-DA, and basis has to be tracked separately for each wallet or account instead of across everything you own (Rev. Proc. 2024-28). The calculator handles both, and shows you which lot each sale used.
- 1
Import each account
Export the full history from every exchange and wallet. Each file becomes an account, and you can tell us which ones sent you a 1099-DA.
- 2
Match transfers and fix gaps
Confirm moves between your own wallets so lots travel with their original dates, and give a basis to any deposit that came from elsewhere.
- 3
Download 8949 and Schedule D
Pick the year and download the PDF, the 8949-style CSV, Schedule D totals by box and the income report.
What you get
- Form 8949 rows split into Part I (short-term) and Part II (long-term)
- Digital-asset boxes G to L assigned from your 1099-DA settings per account
- Wallet-by-wallet basis from January 1, 2025, with transfers carrying lots and dates
- Schedule D totals per box
- Proceeds reconciliation table for each account that sent you a Form 1099-DA
- Staking, mining, airdrop and interest income valued at receipt
- Holding period counted from the day after acquisition
- PDF report and CSV files, free and without a watermark
What happens to your files
Your transaction files never leave your device. CryptoTaxOwl reads them and calculates your report inside this browser tab. We don’t upload them, and the ads and analytics on this website can’t see them: the calculator runs in a separate, ad-free part of the site. To value your trades we download the same price file for every visitor, so even that doesn’t reveal what you hold.
Your exchange files are opened and processed by code running in your own browser, inside a separate, ad-free part of the site. Lots, matches and the PDF are built on your device. There’s no account to create, and closing the tab clears everything unless you save a project file to come back to next year. If you want to confirm it, our verify-it-yourself steps show how to watch your browser’s network traffic during an import.
CryptoTaxOwl never asks for exchange API keys, wallet addresses or a recovery phrase, and won’t accept a recovery phrase pasted into any field.
FIFO vs HIFO in one wallet, and why the wallet matters
These are two of the hand-calculated test cases for the US engine. All dates are in 2025, so every sale is short-term.
One wallet: two purchases, one sale
| Date | Event | Amount |
|---|---|---|
| Jan 5 | Buy 1 ETH | $1,000 |
| Feb 5 | Buy 1 ETH | $3,000 |
| Jun 1 | Sell 1 ETH | $2,500 |
FIFO sells the January lot first: $2,500 − $1,000 = +$1,500 gain, short-term.
HIFO sells the highest-cost lot: $2,500 − $3,000 = −$500 loss, short-term. HIFO is a form of specific identification, so it only applies if you identified the units properly; for assets a broker holds, the identification has to be communicated to the broker, subject to the IRS’s temporary relief (Notice 2025-7). Without it, FIFO applies, which is why FIFO is the default.
Two wallets: the same trades, split across accounts
Now the $1,000 ETH is in wallet A and the $3,000 ETH is in wallet B, and you sell from wallet B. Under wallet-by-wallet basis the sale can only use wallet B’s lot: −$500 loss. Before 2025, pooling every wallet with FIFO would have used the January lot and reported a +$1,500 gain. Our engine refuses to pool across wallets after January 1, 2025, and a test case checks exactly that.
1099-DA and boxes G–L explained
Form 8949 has digital-asset boxes that tell the IRS how each sale was reported to it (Form 8949 instructions):
| Reported on Form 1099-DA… | Short-term (Part I) | Long-term (Part II) |
|---|---|---|
| with basis reported to the IRS | Box G | Box J |
| without basis reported to the IRS | Box H | Box K |
| not reported on a 1099-DA (or 1099-B) | Box I | Box L |
For 2025, brokers report gross proceeds; basis reporting starts with covered assets acquired from 2026 (Form 1099-DA instructions). So most 2025 broker sales land in box H or K, and you supply the basis. For each account you choose “no 1099-DA”, “proceeds only” or “proceeds and basis”, and the report assigns every row. It also shows our proceeds total next to each account so you can compare it with the form the broker sent.
Short-term or long-term: the one-year line
A gain is long-term if you held the asset for more than one year, counting from the day after you acquired it (IRS Topic 409). Buy on March 1, 2024 and sell on March 1, 2025, and the gain is short-term; sell on March 2, 2025 and it’s long-term. Dates are taken in your chosen time zone (New York by default), and transfers between your own wallets keep the original acquisition date, so moving coins never resets the clock.
Staking and other crypto income
Staking rewards are income when you gain dominion and control over them, valued at fair market value at that time (Rev. Rul. 2023-14). That value also becomes their basis, so selling them later produces its own gain or loss. The income report totals staking, mining, airdrops, interest and other rewards by type so you can carry them to the right place on your return. The staking income calculator does just this part if that’s all you need.
Good to know
- No wash-sale adjustments. The wash-sale rule is written for stock or securities (Publication 550), and digital assets are generally not treated as securities for this purpose. The report notes that this could change.
- Your 2024 and earlier basis. For transactions before 2025 you can keep universal (pooled) tracking, which matches how most people filed, or switch to per-wallet. The choice and the January 1, 2025 allocation are printed in the report.
- Missing purchase history means missing basis. A deposit with no matching purchase gets a review item; if you accept zero cost, the report counts and lists every such item.
- Not for business or trader taxation. The report covers investors. It doesn’t handle mark-to-market elections, self-employment tax or derivatives.
- Compare with your 1099-DA. If our proceeds differ from the broker’s, the reconciliation table lists common causes, such as fees, timing and transfers recorded as sales.
CryptoTaxOwl produces figures for general information. It isn’t tax, legal or financial advice, and it can only be as complete as the files you import. Check the warnings in this report, keep your own records, and speak to a qualified tax adviser if you’re unsure. You are responsible for what you file. Compare proceeds with any Form 1099-DA you received.
Related calculators and guides
- Form 8949 for crypto: Form 1099-DA, boxes G–L and wallet-by-wallet basisThe digital-asset boxes, what your broker reports for 2025 and 2026, and why basis is now tracked per wallet.
- Crypto cost basis methods: FIFO, LIFO, HIFO and average cost comparedOne set of trades under four methods, and which method the US, UK, Canada, Australia and Germany allow.
- Moving crypto between your own wallets: why it isn’t a sale, and how to fix mismatchesSelf-transfers, network fees, and the unmatched deposits that quietly inflate tax reports.
Exporting your history: Coinbase · Binance · Kraken · Crypto.com · Revolut · Gemini · Bybit · OKX · KuCoin · Bitstamp · Filing deadlines · Changelog
Questions people ask
Do wash-sale rules apply to crypto?
The wash-sale rule in Publication 550 covers stock or securities, and digital assets are generally not treated as securities for this purpose, so the calculator makes no wash-sale adjustment. Lawmakers have proposed changes before, so check the rules for the year you file.
What if my Form 1099-DA disagrees with the report?
Use the reconciliation table to find the difference. The Form 8949 instructions explain how to report a sale when the form shows incorrect basis (code B and an adjustment in column g). Keep the CSV ledger as your record.
Is moving crypto between my own wallets taxable?
No, a transfer between accounts you own isn’t a sale. With wallet-by-wallet basis the lots move with their original cost and date. The workspace suggests matches and asks you to confirm them; see the transfers guide.
Are staking rewards taxed when I receive them?
Yes. Under Rev. Rul. 2023-14 they’re income when you gain dominion and control, at fair market value. That value is then your basis in the rewarded coins.
Can I use HIFO?
You can choose HIFO or a standing specific-identification order per wallet, with a warning: for assets held by a broker, the identification has to be made in the way the regulations and IRS relief notices require. If it wasn’t, FIFO applies.
Which years does it cover?
2025 and 2024. Earlier transactions are still imported so your lots have the right basis and dates.