Generate a Full Tax Report

It is possible to generate a full tax report with cryptoTax. This vignette shows how.

To keep the workflow reproducible and easy to run without internet access, the examples below use the built-in list_prices_example fixture.

For real tax work across multiple sessions, a more practical workflow is often to save your prepared list.prices object to disk, reload it later, and then optionally seed the package cache with add_to_cache() for same-session convenience.

Preparing your list of coins

First, you want price information for all your coins.

Note: Some exchanges don’t require external pricing for their raw formatting because they already include CAD values. However, price data is still useful for current-value reporting, and therefore your unrealized gains and losses.

library(cryptoTax)

if (file.exists("list.prices.rds")) {
  list.prices <- readRDS("list.prices.rds")
} else {
  list.prices <- prepare_list_prices(
    my.coins,
    start.date = "2021-02-01"
  )
  saveRDS(list.prices, "list.prices.rds")
}

# Optional: make the saved object available through the package cache during
# this R session so formatters can reuse it implicitly if desired.
add_to_cache(list.prices = list.prices)

Formatting your data

Below we use format_exchanges() to format all exchanges in one step. Under the hood it uses format_detect() and also accepts nested lists, empty files, or already formatted transaction tables if needed.

exchanges <- list(
  data_adalite, data_binance, data_binance_withdrawals, data_blockfi, data_CDC,
  data_CDC_exchange_rewards, data_CDC_exchange_trades, data_CDC_wallet, data_celsius,
  data_coinsmart, data_exodus, data_gemini, data_newton, data_pooltool, data_presearch,
  data_shakepay, data_uphold
)

formatted.data <- format_exchanges(exchanges, list.prices = list.prices)

If you prefer a maximally audit-friendly workflow, it is also completely fine to format each exchange explicitly, inspect the output, and only then merge everything:

x.adalite <- format_adalite(data_adalite, list.prices = list.prices)
x.binance <- format_binance(data_binance, list.prices = list.prices)
x.binance.withdrawals <- format_binance_withdrawals(
  data_binance_withdrawals,
  list.prices = list.prices
)
x.cdc <- format_CDC(data_CDC)
x.gemini <- format_gemini(data_gemini, list.prices = list.prices)

formatted.data <- merge_exchanges(
  x.adalite,
  x.binance,
  x.binance.withdrawals,
  x.cdc,
  x.gemini
)

Adjusted Cost Base

Next, we can begin processing that data. We start by formatting the Adjusted Cost Base (ACB) of each transaction. The formatted.ACB is going to be our core object with which we will be working for all future steps.

formatted.ACB <- format_ACB(formatted.data)
#> Process started at 2026-04-20 00:54:29.573008. Please be patient as the transactions process.
#> [Formatting ACB (progress bar repeats for each coin)...]
#> Note: Adjusted cost base (ACB) and capital gains have been adjusted for the superficial loss rule. To avoid this, use argument `sup.loss = FALSE`.
#> Process ended at 2026-04-20 00:54:29.91854. Total time elapsed: 0.01 minutes

Per default, format_ACB() considers taxable revenue (and not aquisition at $0 ACB) the following transaction types: staking, interests, and mining. If you want a different treatment for those transactions (or other types of revenues like cashback and airdrops), use the as.revenue argument of format_ACB().

We get a warning that there are negative values in some places, therefore that we might have forgotten some transactions. The check_missing_transactions() function makes it easy to identify which transactions (and therefore which coin) are concerned with this.

check_missing_transactions(formatted.ACB)
#> # A tibble: 3 × 28
#> # Groups:   currency [11]
#>   date                currency quantity total.price spot.rate transaction  fees
#>   <dttm>              <chr>       <dbl>       <dbl>     <dbl> <chr>       <dbl>
#> 1 2021-03-07 21:46:57 BAT         52.6        38.5      0.733 sell            0
#> 2 2021-04-05 12:22:00 BAT          8.52        0        0.994 revenue         0
#> 3 2021-04-06 04:47:00 BAT          8.52        5.92     0.695 sell            0
#> # ℹ 21 more variables: description <chr>, comment <chr>, revenue.type <chr>,
#> #   value <dbl>, exchange <chr>, rate.source <chr>, fees.quantity <dbl>,
#> #   fees.currency <chr>, currency2 <chr>, total.quantity <dbl>,
#> #   suploss.range <Interval>, quantity.60days <dbl>, share.left60 <dbl>,
#> #   sup.loss.quantity <dbl>, sup.loss <lgl>, gains.uncorrected <dbl>,
#> #   gains.sup <dbl>, gains.excess <lgl>, gains <dbl>, ACB <dbl>,
#> #   ACB.share <dbl>

Next, we might want to make sure that we have downloaded the latest files for each exchange. If you shake your phone every day for sats, or you receive daily weekly payments from staking, you would expect the latest date to be recent. For this we use the get_latest_transactions() function.

get_latest_transactions(formatted.ACB)
#> # A tibble: 14 × 2
#> # Groups:   exchange [14]
#>    exchange     date               
#>    <chr>        <dttm>             
#>  1 CDC          2021-07-28 23:23:04
#>  2 CDC.exchange 2021-12-24 15:34:45
#>  3 CDC.wallet   2021-06-26 14:51:02
#>  4 adalite      2021-05-17 21:31:00
#>  5 binance      2022-11-27 08:05:35
#>  6 blockfi      2021-10-24 04:29:23
#>  7 celsius      2021-05-23 05:00:00
#>  8 coinsmart    2021-06-03 02:04:49
#>  9 exodus       2021-06-12 22:31:35
#> 10 gemini       2021-06-18 01:38:54
#> 11 newton       2021-06-16 18:49:11
#> 12 presearch    2021-12-09 06:24:22
#> 13 shakepay     2021-07-10 00:52:19
#> 14 uphold       2021-06-09 04:52:23

At this stage, it is possible to list transactions by coin, if you have few transactions. The output can be very long as soon as you have many transactions however, so we will not be showing it here, but you can have a look at the listby_coin() function and its example.

Full Tax Report

Next, we need to calculate a few extra bits of information for the final report. Fortunately, the prepare_report() function makes this easy for us.

report.info <- prepare_report(formatted.ACB,
  tax.year = 2021,
  local.timezone = "America/Toronto",
  list.prices = list.prices
)

The report.info object is a list containing all the different info (tables, figures) necessary for the final report. They can be accessed individually too:

names(report.info)
#>  [1] "report.overview"    "report.summary"     "proceeds"          
#>  [4] "sup.losses"         "table.revenues"     "tax.box"           
#>  [7] "pie_exchange"       "pie_revenue"        "current.price.date"
#> [10] "local.timezone"

Finally, to generate the report, we use print_report() with the relevant information:

print_report(formatted.ACB,
  list.prices = list.prices,
  tax.year = "2021",
  name = "Mr. Cryptoltruist",
  local.timezone = "America/Toronto"
)

---

Full Crypto Tax Report for Tax Year 2021

Name: Mr. Cryptoltruist

Date: Mon Apr 20 00:54:31 2026

Summary

Type	Amount	currency
gains	3,970.20	CAD
losses	0.00	CAD
net	3,970.20	CAD
total.cost	7,887.31	CAD
value.today	17,316.13	CAD
unrealized.gains	9,428.82	CAD
unrealized.losses	0.00	CAD
unrealized.net	9,428.82	CAD
percentage.up	119.54%	CAD
all.time.up	169.88%	CAD
all.time.up.revenue	176.23%	CAD
revenue	500.46	CAD

#> Warning: Date of value.today: 2023-12-31

Overview

date.last	currency	total.quantity	cost.share	total.cost	net	currency2
2021-12-24 15:34:45	CRO	19,234.2928403	0.32	6,226.49	0.00	CRO
2021-10-24 04:29:23	LTC	5.5542096	172.64	958.90	1,554.59	LTC
2021-12-24 15:34:45	ETH	0.0761972	1,569.90	119.62	2,254.32	ETH
2021-08-07 21:43:44	BTC	0.0048642	29,138.16	141.73	116.59	BTC
2021-06-06 22:14:11	ADA	209.0297373	1.23	256.29	0.23	ADA
2021-06-18 01:38:54	BAT	29.6939758	1.64	48.62	44.47	BAT
2021-12-09 06:24:22	PRE	3,010.00	0.02	62.60	0.00	PRE
2022-11-27 08:05:35	USDC	49.2669990	1.26	62.31	0.00	USDC
2022-11-27 08:05:35	BUSD	5.8763653	1.28	7.55	0.00	BUSD
2022-11-17 11:54:25	ETHW	0.3559272	9.00	3.20	0.00	ETHW
2022-11-27 08:05:35	Total			7,887.31	3,970.20	Total

Current Value

currency	cost.share	total.cost	rate.today	value.today	unrealized.gains	unrealized.losses	unrealized.net	currency2
CRO	0.32	6,226.49	0.70	13,406.30	7,179.81		7,179.81	CRO
LTC	172.64	958.90	314.10	1,744.58	785.68		785.68	LTC
ADA	1.23	256.29	3.39	708.19	451.90		451.90	ADA
PRE	0.02	62.60	0.16	479.79	417.19		417.19	PRE
ETH	1,569.90	119.62	5,629.00	428.91	309.29		309.29	ETH
BTC	29,138.16	141.73	83,290.00	405.14	263.41		263.41	BTC
USDC	1.26	62.31	1.30	64.28	1.97		1.97	USDC
BAT	1.64	48.62	1.99	59.21	10.59		10.59	BAT
ETHW	9.00	3.20	33.88	12.06	8.86		8.86	ETHW
BUSD	1.28	7.55	1.30	7.67	0.12		0.12	BUSD
Total		7,887.31		17,316.13	9,428.82	0	9,428.82	Total
currency	cost.share	total.cost	rate.today	value.today	unrealized.gains	unrealized.losses	unrealized.net	currency2

#> Warning: Date of value.today: 2023-12-31

Superficial losses

currency	sup.loss

Revenues (CAD)

exchange	date.last	total	interests	rebates	staking	promos	airdrops	referrals	rewards	forks	mining
celsius	2021-05-23	164.95	3.11	0.00	0.00	111.52	0.00	50.32	0.00	0.00	0.00
presearch	2021-12-09	112.54	0.00	0.00	0.00	0.00	112.54	0.00	0.00	0.00	0.00
CDC	2021-07-23	96.11	10.41	51.15	0.00	0.00	0.00	30.15	1.20	3.20	0.00
newton	2021-06-16	50.00	0.00	0.00	0.00	0.00	0.00	50.00	0.00	0.00	0.00
blockfi	2021-08-07	41.62	9.06	0.00	0.00	23.22	0.00	9.34	0.00	0.00	0.00
gemini	2021-06-18	32.40	0.00	0.00	0.00	0.00	15.68	16.72	0.00	0.00	0.00
uphold	2021-06-09	23.40	0.00	0.00	0.00	0.00	23.40	0.00	0.00	0.00	0.00
exodus	2021-06-06	17.26	0.00	0.00	17.26	0.00	0.00	0.00	0.00	0.00	0.00
coinsmart	2021-05-15	16.99	0.00	0.00	0.00	0.00	1.99	15.00	0.00	0.00	0.00
shakepay	2021-06-23	3.64	0.00	0.00	0.00	0.00	3.64	0.00	0.00	0.00	0.00
CDC.wallet	2021-06-26	1.88	0.00	0.00	1.88	0.00	0.00	0.00	0.00	0.00	0.00
adalite	2021-05-17	1.83	0.00	0.00	1.83	0.00	0.00	0.00	0.00	0.00	0.00
binance	2021-11-05	1.71	0.13	1.58	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CDC.exchange	2021-09-07	1.13	1.10	0.02	0.00	0.00	0.00	0.00	0.00	0.00	0.00
total	2021-12-09	565.46	23.81	52.75	20.97	134.75	157.25	171.53	1.20	3.20	0.00
exchange	date.last	total	interests	rebates	staking	promos	airdrops	referrals	rewards	forks	mining

Revenue Sources by Exchanges

Revenue Sources by Types

Important Tax Information for Your Accountant

Capital gains

Your capital gains for 2021 are $3,970.20, whereas your capital losses are $0.00 (net = $3,970.20).

Those are only taxed at 50%. Your capital losses are calculated as total capital losses ($) - superficial losses ($) = actual capital losses ($).

Your total “proceeds” for the coins you sold at a profit is: $10,069.79 (aggregated for all coins). Your total ACB for the coins you sold at a profit is: $6,099.58 (average of all coins). The difference between the two is your capital gains: $3,970.20.

Your total “proceeds” (adjusted for superficial gains) for the coins you sold at a loss is: $0.00 (aggregated for all coins). Your total ACB for the coins you sold at a loss is: $0.00 (average of all coins). The difference between the two is your capital losses: $0.00.

Income

Your total taxable income from crypto (from interest & staking exclusively) for 2021 is $44.78, which is considered 100% taxable income.

Note that per default, this amount excludes revenue from credit card cashback because it is considered rebate, not income, so considered acquired at the fair market value at the time of reception. The income reported above also excludes other forms of airdrops and rewards (e.g., from Shakepay, Brave, Presearch), referrals, and promos, which are considered acquired at a cost of 0$ (and will thus incur a capital gain of 100% upon selling). Note that should you wish to give different tax treatment to the different transaction types, you can do so through the ‘as.revenue’ argument of the ‘ACB’ function. Mining rewards needs to be labelled individually in the files before using format_ACB().

Total tax estimation

In general, you can expect to pay tax on 50% ($1,985.10) of your net capital gains + 100% of your taxable income ($44.78), for a total of $2,029.88. This amount will be taxed based on your tax bracket.

Note that if your capital gains are net negative for the current year, any excess capital losses can be deferred to following years. However, capital losses have to be used in the same year first if you have outstanding capital gains.

Form T1135

If your total acquisition cost has been greater than $100,000 at any point during 2021 (it is $7,887.31 at the time of this report), you will need to fill form T1135 (Foreign Income Verification Statement). Form T1135 is available for download, and more information about it can be found on the CRA website.

Summary table

Here is a summary of what you need to enter on which lines of your income tax:

Description	Amount	Comment	Line
Gains proceeds	10,069.79	Proceeds of sold coins (gains)	Schedule 3, line 15199 column 2
Gains ACB	6,099.58	ACB of sold coins (gains)	Schedule 3, line 15199 column 3
Gains	3,970.20	Proceeds - ACB (gains)	Schedule 3, lines 15199 column 5 & 15300
50% of gains	1,985.10	Half of gains	T1, line 12700; Schedule 3, line 15300, 19900
Outlays of gains	0.00	Expenses and trading fees (gains). Normally already integrated in the ACB	Tax software
Losses proceeds	0.00	Proceeds of sold coins (losses)	Schedule 3, line 15199 column 2
Losses ACB	0.00	ACB of sold coins (losses)	Schedule 3, line 15199 column 3
Losses	0.00	Proceeds - ACB (losses)	Schedule 3, lines 15199 column 5 & 15300
50% of losses	0.00	Half of losses	T1, line 12700; Schedule 3, line 15300, 19900
Outlays of losses	0.00	Expenses and trading fees (losses). Normally already integrated in the ACB	Tax software
Foreign income	44.78	Income from crypto interest or staking is considered foreign income	T1, line 13000, T1135
Foreign gains (losses)	3,970.20	Capital gains from crypto is considered foreign capital gains	T1135

Other situations

If applicable, you may also need to enter the following:

Interest expense on money borrowed to purchase investments for the purpose of gaining or producing income is tax-deductible. Use line 22100 (was line 221) of the personal income tax return, after completion of Schedule 4 (federal).

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