Capital-Gains

Canadian crypto taxes differ from the US in important ways: Canada uses the ACB (average cost) method, not FIFO/spec-ID, and slashes the taxable portion of gains if they count as capital vs. business income. This is a general guide, not professional tax advice — consult a CPA. — Quick Answer In Canada, the CRA treats crypto as a commodity and taxes it. Selling or trading crypto generally triggers a capital gain (50% taxable in 2026) or a business income gain (100% taxable) depending on your activity. You must track your Adjusted Cost Base (ACB) — and margin positions complicate this — then report on your T1 return. Koinly and CoinTracker are the top tools for Canadians, with Koinly offering strong ACB support. ...

Quick Answer: In the US, the IRS treats crypto as property, not currency. You owe capital gains tax whenever you sell, spend, or trade crypto for another asset (including crypto-to-crypto). Report on Form 8949/Schedule D. Use specific identification (spec-ID) or FIFO cost-basis to calculate gains, and tax software like CoinTracker or Koinly to automate it. Short-term (<1 year) gains are taxed at ordinary rates; long-term (≥1 year) at lower capital gains rates. US crypto taxes are complicated because nearly every crypto transaction is a taxable event — even buying one coin with another. Getting it right requires tracking cost basis carefully. This is a general guide, not professional tax advice; consult a CPA for your situation. — ...