Cryptocurrency is taxed differently in Canada and the United States, and the rules change depending on how long you held the asset, what province or state you live in, and whether the CRA or IRS considers your activity trading or investing. Our free crypto calculators help you estimate your tax bill in minutes — no signup, no spreadsheets.

How crypto is taxed in Canada

The Canada Revenue Agency treats cryptocurrency as capital property. Every time you sell, trade, or spend crypto, you trigger a taxable event. Only 50% of your capital gain is included in your taxable income — this is called the inclusion rate. The 2024 budget proposal to raise it to 66.7% for gains above $250,000 was cancelled in March 2025. The tax you owe depends on your marginal rate in your province, which ranges from roughly 20% to 54% combined federal and provincial.

How crypto is taxed in the USA

The IRS treats cryptocurrency as property, not currency. If you sell crypto you held for less than one year, the gain is short-term and taxed as ordinary income — up to 37% federally. If you held for more than one year, the gain qualifies for long-term capital gains rates of 0%, 15%, or 20% depending on your total income. High earners may also owe the 3.8% Net Investment Income Tax (NIIT). State taxes vary widely — from 0% in Texas and Florida to 13.3% in California.

What counts as a taxable crypto event?

Both the CRA and IRS consider these taxable: selling crypto for fiat currency, trading one cryptocurrency for another, spending crypto to buy goods or services, and receiving crypto as payment or mining income. Simply buying and holding cryptocurrency is not a taxable event — tax is only triggered when you dispose of the asset.

Why use a crypto tax calculator?

Manually calculating crypto taxes means tracking your adjusted cost base (ACB) for every transaction, applying the correct federal and provincial or state rates, and accounting for fees. Our calculators handle all of this automatically using live market prices from CoinGecko. They are free to use, require no account, and give you an instant estimate you can bring to your accountant or use to plan your trades.

Frequently Asked Questions

Is crypto taxable in Canada?

Yes. The CRA treats cryptocurrency as capital property. When you sell, trade, or spend crypto, you must report the capital gain or loss. Only 50% of gains are included in taxable income; the proposed 66.7% rate for gains over $250,000 was cancelled in March 2025.

Is crypto taxable in the USA?

Yes. The IRS treats crypto as property. Short-term gains (held under 1 year) are taxed as ordinary income up to 37%. Long-term gains (held over 1 year) are taxed at preferential rates of 0%, 15%, or 20%.

Do I need to report crypto losses?

Yes, but losses work in your favour. Capital losses can offset capital gains, reducing your overall tax bill. In Canada, unused losses can be carried back 3 years or forward indefinitely.

What crypto transactions are taxable?

Selling crypto for fiat, trading one crypto for another, spending crypto on goods/services, and receiving crypto as income are all taxable events. Simply buying and holding crypto is not taxable.