Crypto taxes: what gig workers need to know
Crypto taxes explained for gig workers, with a worked example, a checklist and the mistakes to avoid.
Why this matters for gig workers
Gig workers are usually treated as self-employed, so tax is their responsibility on every payout.
Worked example
Here is the calculation with sample figures. Change any number in the Crypto Tax Calculator to run your own.
| Purchase price | 8,750.00 |
| Sale price | 14,000.00 |
| Costs and fees | 87.50 |
| Tax rate (%) | 15% |
| Taxable gain | 5,162.50 |
|---|---|
| Tax | 774.38 |
| Net amount | 13,138.12 |
Crypto taxes: how it works
Many tax systems treat crypto as property, so selling, swapping or spending it can trigger a capital gain or loss.
Each disposal needs a cost basis, which is why good records are essential.
A second example with larger figures
Scaling the inputs up shows how the result moves. Percentages stay the same, so the tax grows in proportion to the amount it is applied to.
| Purchase price | 26,250.00 |
| Sale price | 42,000.00 |
| Costs and fees | 262.50 |
| Tax rate (%) | 15% |
| Taxable gain | 15,487.50 |
|---|---|
| Tax | 2,323.12 |
| Net amount | 39,414.38 |
Using the calculator step by step
- Open the Crypto Tax Calculator.
- Enter your own figures on each numbered line.
- Set the rate to the one that applies to you. Defaults are examples, not advice.
- Read the result and the formula below it.
Key terms
- Net amount
- The amount before tax is added. On an invoice it is the figure the tax is calculated on.
- Exempt supply
- A sale that falls outside the tax entirely. No tax is charged and input tax usually cannot be reclaimed.
- Withholding
- Tax deducted at source, by an employer or payer, before the money reaches you.
- Reduced rate
- A lower rate that applies to specific categories, often essentials such as food, medicine or books.
- Deduction
- An amount subtracted from taxable income. It saves tax equal to the deduction times your marginal rate.
A quick checklist for gig workers
- Export every exchange history.
- Match disposals to cost basis.
- Report gains and losses.
Common mistakes to avoid
- Thinking crypto-to-crypto swaps are not taxable.
- Losing records of the original purchase price.
Run your own numbers. The Crypto Tax Calculator updates as you type and shows the formula it uses.
Frequently asked questions
Why should gig workers care about this?
Gig workers are usually treated as self-employed, so tax is their responsibility on every payout.
What is the quickest way to calculate it?
Use the Crypto Tax Calculator: enter your figures and it shows the result and the formula.
Is this tax advice?
No. It is general information for planning. Rules differ by country and change over time, so confirm with your tax authority or a qualified adviser.
This article is general information for planning, not tax advice. Rates and rules change; confirm with your tax authority or a qualified adviser.