Income and Investments Cryptocurrency Tax Calculator Read the Article Open Share Drawer Share this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Pinterest (Opens in new window)Click to print (Opens in new window) Written by TurboTaxLisa Modified Dec 20, 2022 2 min read The growth of cryptocurrency/Bitcoin investments continues to explode. According to a May 2021 survey, 51% of Americans who own cryptocurrency bought it for the first time within the last 12 months. Although interest in cryptocurrency continues to grow and IRS issued more guidance on virtual currency, new investors still have questions about what to do with it and how it is taxed. If you are new to the cryptocurrency/Bitcoin investing world, you may have questions we often hear like, “How is my cryptocurrency taxed?”, “How are my profits taxed?”, or “How much is the tax on my cryptocurrency/Bitcoin sales?” If you have these questions don’t worry we have you covered. Check out our free Cryptocurrency Tax Interactive Calculator, that in just one screen, will answer your burning questions about your cryptocurrency/Bitcoin sales and give you an estimate of how much your sales will be taxed and much more. To help you with your tax planning for tax year 2021 you can also find out if you have a capital gain or loss and compare your tax outcome of a short term versus long term capital gain, whether you already sold or you are considering selling. Our free cryptocurrency tax interactive will help you estimate your taxes on your sales whether you received your cryptocurrency through purchase, as a payment for services, or in exchange for goods. At tax time, TurboTax Premier will guide you through your cryptocurrency transactions, allow you to automatically import up to 4,000 cryptocurrency transactions at once, and figure out your gains and losses. You can also connect live via one way video to a TurboTax Live Premier tax expert with an average 12 years experience to get your questions answered along the way and have your taxes reviewed. You can also fully hand over your taxes from start to finish to a TurboTax Live Premier tax expert all from the comfort of home. *Note, our Cryptocurrency Tax Interactive Calculator is for estimation purposes only and allows you to get an estimate on one sales transaction at a time. Previous Post How to Save for Retirement: 7 Ways to Save Next Post Five Tips to Help You Figure Out How Much to… Written by Lisa Greene-Lewis Lisa has over 20 years of experience in tax preparation. Her success is attributed to being able to interpret tax laws and help clients better understand them. She has held positions as a public auditor, controller, and operations manager. Lisa has appeared on the Steve Harvey Show, the Ellen Show, and major news broadcast to break down tax laws and help taxpayers understand what tax laws mean to them. For Lisa, getting timely and accurate information out to taxpayers to help them keep more of their money is paramount. More from Lisa Greene-Lewis Follow Lisa Greene-Lewis on Twitter. Comments are closed. Browse Related Articles Tax News The Infrastructure Bill Was Signed Into Law: What Does … Tax News IRS Provides Further Guidance on the Taxation of Virtua… 401K, IRA, Stocks I Started Investing This Year, What Do I Need to Know C… TurboTax and CoinTracker Partner to Help You Seamlessly… Income and Investments Cryptocurrency & NFTs Tax Tips for Unemployment Income if You’ve Been Laid … Why is My Tax Refund Not What I Expected Income and Investments Investing for Beginners Friends with Tax Benefits: So You’ve Got a Side Hustl…