Is Bitcoin taxable if I didn't sell?

Buying and holding Bitcoin is not a taxable event in any supported jurisdiction. You owe tax only when you dispose of BTC - by selling, swapping it for another crypto, spending it, or transferring it as payment. Simply holding Bitcoin, even as the price rises, does not create a tax obligation.

How do I calculate Bitcoin taxes if I bought at different prices?

You need to apply a cost basis method to match each sale to a specific purchase. For US, Canada, Australia, NZ, India, and South Africa, DYOR.tax uses FIFO - the oldest purchases are matched to each sale first. For UK filers, we apply HMRC Section 104 pooling, which averages all purchases into a single pool. For Canada, ACB (Adjusted Cost Base) tracks a running average across all purchases. The correct method is applied automatically based on your selected country.

Do I need to report Bitcoin transfers between my own wallets?

No - transferring BTC between wallets you own is not a taxable event. However, you do need to track these transfers so they are not counted as taxable disposals. DYOR.tax detects self-transfers automatically when you add your wallet addresses, preventing them from being misclassified as sales.

Are Bitcoin mining rewards taxable?

Yes. Bitcoin mining rewards are taxable income at fair market value on the date you receive them in most jurisdictions. In the US, mining income is reported on Schedule 1 as self-employment or other income, depending on your setup. The same tokens are then tracked with a cost basis equal to the income already reported, so you only pay capital gains on appreciation beyond that point.

What if I lost my transaction history?

For exchange activity, re-export your full CSV from the exchange - most exchanges retain history for several years. For on-chain Bitcoin activity, all transactions are permanently recorded on-chain. DYOR.tax reads your complete wallet history from the public blockchain, regardless of how far back your transactions go.

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Q: Do I owe tax on Bitcoin I received as a gift?

Receiving Bitcoin as a gift is generally not taxable income in most jurisdictions (the US, UK, Canada, and Australia all treat gifts differently from income events). However, when you later sell or dispose of the gifted BTC, you owe capital gains tax. Your cost basis is typically the donor's original cost basis, though this varies by country. DYOR.tax applies the correct treatment for your selected jurisdiction.

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How Bitcoin is taxed

Bitcoin is treated as property (or a capital asset) in every supported jurisdiction. Selling BTC for fiat, swapping it for another crypto, or spending it to buy goods - all are taxable disposals. Your taxable gain is the difference between what you received and your original cost basis (what you paid).

Taxable events: selling BTC for fiat, swapping BTC for ETH or stablecoins, spending BTC on purchases, receiving BTC as payment for services, Bitcoin mining rewards.

Not taxable: buying BTC with fiat, transferring between your own wallets, simply holding.

Bitcoin cost basis - why it gets complicated

Most people buy Bitcoin over time at different prices. When you sell, which purchase do you match it to? The answer depends on your cost basis method:

FIFO (First In, First Out): oldest purchases sold first - default method accepted in the US, Canada, Australia, NZ, India, and South Africa.
Section 104 pooling: UK only - all purchases averaged into a single pool, with same-day and 30-day bed & breakfast rules applied first.
ACB (Adjusted Cost Base): Canada - running average cost across all purchases, adjusted with each new acquisition.

DYOR.tax applies the correct method for your selected country automatically. No manual configuration required.

Bitcoin wallet scanning - UTXO-level tracking

If you hold Bitcoin outside of exchanges - hardware wallets, software wallets, self-custody - every transaction needs to be tracked. DYOR.tax scans Bitcoin addresses at the UTXO level, reading your complete on-chain history:

Supports P2PKH (1...), P2SH (3...), Bech32 (bc1q...), and Taproot (bc1p...) addresses
Detects receives, sends, self-transfers, and mining income
Up to 5 BTC addresses per report
Merged with your exchange CSV into one unified report

Cross-source self-transfer detection identifies moves between your own addresses, so they are not counted as taxable disposals.

How to calculate your Bitcoin taxes

If you used an exchange:

Export account-opening-to-today CSVs from Coinbase, Binance, or Kraken
Upload to DYOR.tax and select your country
Get a free preview showing your total gains, losses, and income

If you hold self-custody Bitcoin:

Add your Bitcoin wallet addresses (up to 5)
The scanner reads your full transaction history automatically from on-chain data
Same filing-ready output with trade-by-trade P&L

If you used both:

Upload your CSV and add wallet addresses together. DYOR.tax merges both data sources and detects cross-source self-transfers to avoid double-counting.

Bitcoin taxes by country

United States

Short-term gains (held 1 year or less): taxed as ordinary income, up to 37%
Long-term gains (held more than 1 year): 0%, 15%, or 20% depending on income
Form 8949 + Schedule D for capital gains; Schedule 1 for mining income
Filing deadline: April 15

United Kingdom

Section 104 pooling - all BTC purchases averaged into a pool
Same-day rule and 30-day bed & breakfast rule applied before pool
CGT rates: 18% (basic rate), 24% (higher rate) - updated October 2024
Annual exempt amount: £3,000 (2024/25 tax year)
SA108 Cryptoassets on Self Assessment; deadline January 31

Canada

ACB method - running average cost across all purchases
50% inclusion rate under current law
Schedule 3; deadline April 30

Australia

The calculator applies FIFO cost basis
50% CGT discount available if BTC was held 12 months or more before disposal
ATO data matching is active - all exchange and on-chain activity should be reported
Tax year July 1 - June 30; deadline October 31

New Zealand

No formal CGT; BTC gains are taxable as income if the asset was acquired with the purpose of disposal
IRD's view is that most crypto trading is taxable - the non-taxable exception is narrow
Tax year April 1 - March 31; income reported on IR3

India

30% flat tax on all BTC gains under Section 115BBH
No loss offset between crypto assets
Schedule VDA on ITR-2 or ITR-3

South Africa

Revenue or capital depending on intention and frequency of trading
CGT inclusion rate: 40% for individuals
Annual exclusion: R40,000

Common Bitcoin tax mistakes

Not reporting small transactions. Every disposal is reportable regardless of size.
Using rough price estimates. Cost basis must be calculated from your actual trade price, not a round number recalled from memory.
Missing wallet transfers. Transfers between your own wallets are not taxable, but they must be tracked so they are not misclassified as sales.
Incomplete history. Prior year purchases directly affect this year's cost basis. Uploading only recent transactions overstates gains.

Related calculators

Coinbase Tax Calculator · Binance Tax Calculator · Kraken Tax Calculator · Ethereum Tax Calculator · Solana Tax Calculator

🇺🇸 US · 🇬🇧 UK · 🇨🇦 Canada · 🇦🇺 Australia

Frequently Asked Questions

Buying and holding is not a taxable event. You owe tax only when you dispose of BTC - selling, swapping for another crypto, spending it, or transferring it as payment. Simply holding Bitcoin, even as the price rises, creates no tax obligation.

You need a cost basis method. DYOR.tax uses FIFO for the US, Canada, Australia, NZ, India, and South Africa - oldest purchases are matched to each sale first. For the UK, we apply HMRC Section 104 pooling with same-day and 30-day rules. Canada also uses ACB (Adjusted Cost Base), a running average updated with each purchase. The correct method is applied automatically for your country.

Transfers between your own wallets are not taxable. But they do need to be tracked so they are not misclassified as disposals. When you add multiple wallet addresses to DYOR.tax, cross-source self-transfer detection identifies these moves automatically.

Yes. Mining rewards are taxable income at fair market value on the date received in most jurisdictions. In the US, mining income goes on Schedule 1. The mined BTC then has a cost basis equal to the amount reported as income, so you only owe capital gains on appreciation beyond that point when you later sell.

For exchange transactions, re-export your CSV - most exchanges retain history for several years. For on-chain Bitcoin activity, all transactions are permanently on the public blockchain. DYOR.tax reads your complete wallet history from chain data, regardless of how far back your transactions go.

Receiving Bitcoin as a gift is generally not a taxable income event in most jurisdictions. However, when you later sell or dispose of the gifted BTC, you owe capital gains tax. Your cost basis is typically the donor's original cost basis, though the exact treatment varies by country. DYOR.tax applies the correct rules for your selected jurisdiction.

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