Crypto Tax Calculator (FIFO)
Crypto & Web3Estimate your capital gains tax on a cryptocurrency sale using the FIFO (First-In-First-Out) method and simplified short-term/long-term US tax rates.
Capital Gain
Your total gain (or loss) on this sale, using FIFO to match proceeds against your earliest purchase cost basis.
Estimated Tax
$1,200.00
Estimated US federal tax owed, using a simplified flat rate (15% long-term, 24% short-term/ordinary income bracket estimate).
Net After-Tax Gain
$6,800.00
Your gain after subtracting the estimated tax owed.
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Odeh AhwalBased on 3 sources
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Creators
Odeh AhwalBased on 3 sources
0people find this calculator helpful
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Helpful
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Crypto & Web3 calculators
Frequently Asked Questions
What does FIFO mean for crypto taxes?
FIFO (First-In-First-Out) assumes the coins you sell are the oldest ones you bought first. It's the default cost-basis method the IRS applies if you don't specifically identify which lot you're selling, and it's the most commonly used method for crypto tax reporting.
Why does holding period change my tax rate so much?
In the US, crypto held over one year qualifies for long-term capital gains rates (0%, 15%, or 20% depending on income), which are significantly lower than short-term rates — short-term gains are taxed as ordinary income, which can be as high as 37%. This calculator uses simplified flat estimates (15% long-term, 24% short-term) rather than your exact bracket.
Is this calculator a substitute for professional tax advice?
No — this is a simplified estimate using flat rate assumptions. Actual crypto tax liability depends on your full income, state taxes, specific cost-basis method used, and other factors. Always consult a tax professional or crypto tax software for accurate filing.
Sources
- Digital Assets, Internal Revenue Service (IRS)
- Revenue Ruling 2019-24 — Tax Treatment of Hard Forks and Airdrops, Internal Revenue Service (IRS)
- Notice 2014-21 — IRS Guidance on Virtual Currency, Internal Revenue Service (IRS)
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