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Use this free tax calculator to instantly find your net profit on crypto transactions.
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Ethereum is an open source blockchain created by Vitalik Buterin in 2014. It is the second biggest blockchain network in the world and is expected to overtake Bitcoin in terms of market cap in the next 5 years. Many of today's most popular crypto projects, like NFTs, ERC20 tokens, and fast payments are built on top of the ETH network. Furthermore, ETH 2.0 utilises a proof of stake rather than proof of work protocol, will which drastically reduce the energy consumption of the ETH network.
Yes. This is a free ethereum profit calculator. You do not need to sign up. You can just start using it today.
This calculator works by using the historical price at the time that you bought your Ethereum and the price of when you sold your Ethereum, as well as your income and the length of time that you held the investment for, to calculate how much tax you have to pay, what your gross profit or loss is, as well as what your net gain or loss is after tax.
That is entirely up to you to decide. However, as of 2022, it is the token with the highest amount of utility and is expected to eclipse bitcoin in the future.
To calculate profit on Ethereum, compare the buy price and the sell price and multiply the difference by the number of units bought. You can do this easily using the ethereum tax calculator above.
To calculate your profit on ethereum mining, use your hashrate, power consumption in watts, and electricity price to determine how much ETH you will be rewarded with every day.
It is advised that you use a calculator for this.
Gas fees are denoted in gwei, which is a denomination of Ethereum's native currency, Ether (ETH). 'Gwei' means 'giga-wei', and it is equal to 1,000,000,000 wei. Wei is the smallest unit of ETH.
Transaction fees are calculated as Gas units (limit) * (Base fee + Tip)
Base fees are calculated by comparing the previous block with the target size. This ensures that block sizes do not remain high, because it is not commercially viable to do so.
| Block Number | Included Gas | Fee Increase | Current Base Fee |
|---|---|---|---|
| 1 | 15M | 0% | 100 gwei |
| 2 | 30M | 0% | 100 gwei |
| 3 | 30M | 12.5% | 112.5 gwei |
| 4 | 30M | 12.5% | 126.6 gwei |
| 5 | 30M | 12.5% | 142.4 gwei |
| 6 | 30M | 12.5% | 160.2 gwei |
| 7 | 30M | 12.5% | 180.2 gwei |
| 8 | 30M | 12.5% | 202.7 gwei |
Coin swaps are considered by most tax authorities to be the equivalent of disposing of an asset and buying a new asset. As such, it is important to take tax rules into account before doing coin swaps. However, if you wish to calculate the conversion rate of Ethereum to token, you can check the Ethereum price as well as the token price, and divide the token price by the price of ETH.
If you have made a loss on Ethereum, you can realise that loss today to take advantage of tax loss harvesting. Tax loss harvesting allows you to sell at a loss and carry that over to future years. Meanwhile, you can hold for longer than 12 months and be eligible for Capital Gains Tax discounts, heavily reducing your tax bills so you can keep more of what you make.