Free Crypto Tax Calculator

Here is a free crypto tax calculator I have created that anyone can use. Make sure to watch the video tutorial were I explain how to use this free crypto tax software.

Nothing in any of my articles are financial or tax advice. When you are using the free crypto tax tool you are doing so at your own responsibility. Keep in mind that if you use the calculator the wrong way, the calculator could have bugs, simply not work, you have not applied your country’s tax percentages, then this tool will show the wrong amount of tax. Therefore, this tool should be seen as a helping tool for roughly estimating crypto tax.

Table of Contents

  1. Free Crypto Tax Calculator
  2. What is in this free crypto tax software
    1. Crypto NFT taxes
    2. Crypto airdrop taxes
    3. Can I track my crypto mining income in this tax calculator?

Free Crypto Tax Calculator

Here you can download the free crypto tax calculator. This free crypto tax tracker you can freely use to make it a lot easier to report your crypto taxes. You can use this file for free & share the original Excel file with others. You may not claim the Excel file is your creation and share it with others using your own name.


free crypto tax calculator

What is in this free crypto tax software

This free crypto tax software is a simple Excel file that you can use to manually book your own crypto transactions. I made this free tool because there are no other good solutions for us to automatically get our crypto taxes calculated, if we buy NFTs and perform transactions across many different blockchains.

free crypto software

Crypto NFT taxes

Using the free tax tool you are able to file your NFT transactions. In the file there are specific Excel sheets made for NFTs. This sheet is made to only handle 1 NFT at a time. You can however duplicate the sheet to book more NFT transactions. If your country’s laws on NFT transactions differ from that in this tool, make sure to change it yourself.

crypto nft taxes
NFT taxes

Crypto airdrop taxes

In this calculator you are able to register your airdrop transactions. In the file there are specific Excel sheets made for airdrops. The easiest way to keep track and separate each airdrop is to use one airdrop sheet for each airdrop you get. That can be easily done by duplicating the airdrop sheet. If your country’s laws on airdrop transactions differ from that in this tax tool, make sure to change it yourself.

crypto airdrop tax
crypto airdrop tax

Can I track my crypto mining income in this tax calculator?

Yes, it is possible to track your crypto mining income using this free calculator. However, there are some things you need to keep in mind. Crypto mining goes for me In Sweden under “income tax” and are declared in another area, so we need to make sure we separate our mining earnings (income) from investment profits. However, since for us the tax percentage is the same 30%, we can simply use this excel calculator to calculate our crypto mining income as well. The only thing we need to remember is to make sure we name the sheet for mining with something like “Crypto mining”. Because at the last step, when I show how to calculate everything to get an overview of the total taxes to pay, then we should not include to add the mining profits to the sum (because those we need to handle separately). So then I would sum everything regarding profits from investments & sum losses from investments and calculate the total tax for potential “profit tax”. Then I would do the same but for the “Crypto mining sheet” to see the total income tax needed to pay for the mining.

The booking of crypto mining events I do the following way. I begin by creating a new mining sheet called “crypto miners”. The second the mined coins arrive to my wallet, then 30% of what those coins are worth will need to be paid in income tax here in Sweden. So let’s say my fry camera miner gives me 100 fry tokens. Then I would add a transaction under the “BUY” section, that I got 100 tokens. The price I set to “0”, and I type in the “Transaction ID” cell which crypto miner, which token and transaction hash (to keep track of which miner/token). Then directly, I add the following in the “SELL” section. I enter in a sell transaction of 100 coins, the price is set to the FRY tokens current price. And then the calculator will perform the calculation. This will look like I sold all my mined Fry tokens instantly (even though I might not sell all the tokens). So this specific “crypto miners” sheet should only be seen as a tool to calculate income tax on mining, and will not be an accurate representation of what we actually do with the coins (if we decide to hold some of them). Then, at the end of the year, when I sum up all my income tax from mining, I use the 30% income tax (for me in Sweden), and the calculator will calculate that 30% of all the mining profits I have made during the year.

So, the “crypto mining” sheet is not an accurate sheet of how many coins you hold/sell, it can be used the above way to simply book all mining events and calculate the total income tax for it. But if we decide to hold some of the mined coins, see below.

If one decide to hold the mined fry tokens for a longer period of time (the 30% income tax for mining is taken anyway like above and should therefore always be booked in the “crypto miner” sheet). But if I decide to hold some of the tokens for a longer period of time, and if I then sell the tokens to a higher price than what I got it for, I need to pay profit tax on that price increase. So then I need to compare the inbound value of the fry tokens I decided to hold and compare it with the sell value of the fry tokens sold and add both those transactions to a separate normal coin sheet, called “Fry Coin” or something similar. The “Buy” transaction price should include the number of coins you decided to hold, the price should be set to “0”. And the sell transaction should simple show a normal sell transaction of how many coins were sold and to what price.

Can I use this crypto tax calculator for NFT?

Yes, this free tax calculator works to track all your NFT transactions.

Does this tax calculator work for airdrops?

Yes, this tax calculator also works to calculate tax on airdrops.

Can I track my crypto mining income with this calculator?

This free tax calculator also works for keeping track of your mining income.


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2 thoughts on “Free Crypto Tax Calculator”

  1. Jag provade taxeringsprogrammet i open office och det funka tyvärr inte. Dock gick det bra att ladda upp filen i google sheets där funka det bättre.
    ville mest kommentera för oss som inte vill betala för excel

    Reply
    • Thank you Mats for this comment!

      What Mats is saying is that,
      If you do not have the offline Excel program, you can load the file in google sheets and it will work there.
      Also, I created the file in Office 365, which is a free version of the Excel program. So to all of you wondering out there, there are solutions for you to run this calculator if you do not have the offline version of Excel.

      Reply

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