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  • Cryptocurrency Tax Guide for US Individuals
    • Virtual Currency & Cryptocurrency
    • Who are Recap?
  • CRYPTOCURRENCY TAX
    • Do I Need to Pay Tax on my Crypto?
    • Which Taxes Apply?
      • Capital Gains Tax (CGT)
      • Income Tax
      • Non-Taxable Transactions
    • How Much Tax Will I Pay?
    • Capital Gains Tax
      • Calculating the Capital Gains and Losses
      • Cost Basis Methods
      • Disposal proceeds
        • Non Taxable Events
        • Taxable Events
        • Donating cryptocurrency to a charitable organization
        • Gifting cryptocurrency to another person
    • Income Tax
      • Receiving cryptocurrency from mining
      • Receiving cryptocurrency rewards
      • Forks
      • Airdrops
      • Tax on Tokenswaps and Mainnetswaps
    • Deductibles and Reducing Capital Gains
  • TRANSACTION TYPES
    • 💷Selling Crypto for Fiat
    • 🛍️Purchases using Crypto
    • 🔄Exchanging one crypto for a different crypto
    • 🎗️Donations to Qualified Charities
    • 🎁Gifts
    • 🎈Airdrops
    • 🤝Staking
    • 💸Transfers
    • 🍴Forks
    • ⛏️Mining
    • 👛Employment income
    • 🚨Lost & Stolen Crypto
    • 💧Liquidity Pools
    • 🔮Cryptoasset derivatives (CFDs, Futures and Margin Trading)
    • 💼Crypto Loans
    • 💎Lending Rewards
    • 🪞Reflections Rewards
    • 👥Referral Income
    • 💳Cashback
    • 🎨NFTs (Non Fungible Tokens)
    • 🎮Play-to-earn gaming NFTs
  • Record Keeping
  • Reporting Income and Gains to the IRS and Paying the Tax
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  1. Cryptocurrency Tax Guide for US Individuals

Who are Recap?

PreviousVirtual Currency & CryptocurrencyNextDo I Need to Pay Tax on my Crypto?

Last updated 3 years ago

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is a leading cryptocurrency tracker and tax calculation app with end-to-end encryption. We simplify calculating your crypto taxes and streamline the process of compliance for thousands of our users. Co-founder Dan Howitt spent 40 hours calculating his cryptocurrency taxes in November 2017, which was simply not possible on a spreadsheet. Co-founder Ben Shepheard faced the same problem; he found that there were many cryptocurrency accounting products on the market but none of them offered the privacy he wanted – giving up transaction and wallet details to crunch the numbers simply wasn't an option.

You wouldn’t tell people the value of your assets, your bank balance or how much cash you have under the mattress, so why would you tell a software company what cryptocurrencies you hold and your trading patterns? Crypto tax calculations can be complicated but you shouldn't need to compromise on security or privacy to comply with the law.

Recap solves this problem with end-to-end encryption. Users can connect to their exchanges with read-only API keys knowing that their data will not be intercepted by Recap or others along the way. You can connect over 16 exchanges via API with data from ANY other exchange imported via CSV.

Our platform applies a fiat conversion to every transaction and calculates your tax position for you. It also allows users to account for forks, airdrops, gifts, purchases in cryptoasssets and many other nuances of cryptoasset taxation.

Our end-to-end encryption gives you complete privacy meaning the only person that can see your transaction history is you. Use Recap to manage your taxes, track your portfolio and securely plan your digital wealth.

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