How do I calculate my taxes?

If you've bought crypto, HODLed, and sold it later, your tax liability should be fairly easy to calculate. Let's look at a simplified, US-based example. 

Here's the formula:

• Fair market value - Cost basis = Capital gain / Loss
• The fair market value is the current spot price you'd find on an exchange. 
• Cost basis is the original price you paid for the asset plus any fees.

Imagine you bought 2 BTC for $10,000 and sold them two years later for $30,000. You've now made $40,000 in capital gains: $60,000 (fair market value) - $20,000 (cost basis) = $40,000 (capital gains)