Use this calculator to calculate your current capital gains as well as the
current basis for your remaining cryptos.
If you have transactions involving more than one crypto, then calculate each
crypto separately.
Here's an example. Let's say you make 2 transactions involving BSV.
In the first
transaction, you buy 10 BSV coins for $3000. In the text box on the left, entitled
"Number Coins," enter 10. In the text box on the right entitled "Amount Involved,"
enter 3000. You don't need to add the dollar sign. In fact, use whatever fiat
currency
you use. Then press the "Buy" button under "Action."
Immediately, the calculations are performed and appear in the area below.
The program keeps track of the following variables:
1. The cash in for this transaction. When you buy, you put cash in, which in
this case is $3000
2. The cumulative cash in so far. Since this is the first buy, the cumulative cash in
is also $3000.
3. The cash out for this transaction. You put cash in when you buy, but you take cash out
when you sell. So there's no cash out for this transaction.
4. The cumulative cash out. So far, there has been no cash out.
5. The number of coins involved in this transaction. That's simple. Ten coins.
6. The cumulative number of coins remaining in your possession. That's also ten at this point.
7. Any capital gain on this transaction. You can only have a capital gain when you sell.
So on this buy transaction you have no capital gain.
8. Your cumulative capital gain to this point. You've had no capital gains yet. So your current
or cumulative capital gains is still zero.
9. The basis for the coins that you just bought on this transaction. $300 each coin.
10. The current, or cumulative, basis for the coins you have is $300
That takes care of the first transaction. All you had to do was
type in the number of coins your sent or received and the amount of fiat you
received or paid. Then you do your next transaction in the same way.
Let's do a second transaction. Let's say that you sell 5 of your BSV. But
suppose
BSV has risen in price and for the 5 BSV you receive $3000. You enter 5 in the
box for Number coins and 3000 in the box for Amount spent or received. Then
press
"Sell." The program calculates the appropriate values.
1. There was no cash in on this transaction,
2. and the cumulative cash in remains at 3000.
3. You took 3000 cash out,
4. so the cumulative cash out jumps to 3000.
5. You had 10 coins, but you cashed out 5 of them
6. so you have 5 coins remaining.
7. You had capital gains on this transaction of 1500.
Your basis of the ten coins you bought in the first transaction was 300. You
sold 5 of them for a capital gain of 1500.
8, You only have capital gains or losses when you sell.
This is your first sell. So, your cumulative capital gains are 1500.
The basis for this transaction, amount involved divided by number of coins
involved is 3000 / 5 = 600.
9. The basis of the coins sold is 300.
10. The basis of your remaining coins remains at 300.
If you have more transactions, then for each transaction just enter the number
of coins involved, the amount spent or received, and whether you bought or sold
on that transaction. When you have finished entering all the data for each transaction,
you will see your current capital gains and the basis for the coins remaining.
That's all you need.