cryptoTax: Crypto taxes in R (Canada only)

Disclaimer: This is not financial advice. Use at your own risks. There are no guarantees whatsoever in relation to the use of this package. Please consult a tax professional as necessary.

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Helps calculate crypto taxes in R.

1. First, by allowing you to format .CSV files from various exchanges to one large dataframe of organized transactions.
2. Second, by allowing you to calculate your Adjusted Cost Base (ACB), ACB per share, and realized and unrealized capital gains/losses.
3. Third, by calculating revenues gained from staking, interest, airdrops, etc.
4. Fourth, by calculating superficial losses as well, if desired.

This is a work in progress. If you notice bugs, please report them: https://github.com/cryptoltruist/cryptoTax/issues.

Why use cryptoTax?

What are the benefits of using an R package to do your crypto taxes as opposed to an online commercial software?

1. Full transparency on algorithms (open code)
2. You stay in control of your data (no need to upload it on another platform)
3. You can reuse your script (no need to start from scratch every year)
4. No limit on the number of transactions
5. Easy to automatically recategorize transactions as desired
6. Unlimited flexibility thanks to the power of R
7. The community can contribute for continuous improvement and feature requests
8. Easy to export a csv or excel file from all formatted transactions
9. It is free

Installation

To install, use:

remotes::install_github("cryptoltruist/cryptoTax")

ACB demo

library(cryptoTax)
data <- data_adjustedcostbase1
data

date	transaction	quantity	price	fees
2014-03-03	buy	100	50	10
2014-05-01	sell	50	120	10
2014-07-18	buy	50	130	10
2014-09-25	sell	40	90	10

ACB(data, spot.rate = "price", sup.loss = FALSE)

date	transaction	quantity	price	fees	total.price	total.quantity	ACB	ACB.share	gains
2014-03-03	buy	100	50	10	5000	100	5010	50.10	NA
2014-05-01	sell	50	120	10	6000	50	2505	50.10	3485
2014-07-18	buy	50	130	10	6500	100	9015	90.15	NA
2014-09-25	sell	40	90	10	3600	60	5409	90.15	-16

For more on calculating the ACB, as well as superficial losses, see the corresponding vignette.

Supported exchanges

Currently, the following exchanges are supported with the format_* (or format_detect()) functions:

1. Adalite
2. Binance
3. BlockFi
4. Crypto.com (app, exchange, wallet)
5. Celsius
6. CoinSmart
7. Exodus wallet
8. Gemini
9. Newton
10. Pooltool (ADA)
11. Presearch
12. Shakepay
13. Uphold

To support another exchange not listed here, please open an issue. You can also prepare your own file according to the style of one of those exchanges and use the corresponding function.

Workflow demo

# Prepare list of coins
my.coins <- c("BTC", "CRO", "ETH", "ETHW")
list.prices <- prepare_list_prices(coins = my.coins, start.date = "2021-01-01")
#> ❯ Scraping historical crypto data
#> ❯ Processing historical crypto data
# Note that for some exchanges this step may be unnecessary

# Load data and format shakepay file
data(data_shakepay)
formatted.shakepay <- format_shakepay(data_shakepay)

# Load data and format CDC file
data(data_CDC)
formatted.CDC <- format_CDC(data_CDC)

# Merge data from the different exchanges
all.data <- merge_exchanges(formatted.shakepay, formatted.CDC)

# Format data with ACB
formatted.ACB <- format_ACB(all.data)
#> Process started at 2023-02-10 17:20:47. Please be patient as the transactions process.
#> [Formatting ACB (progress bar repeats for each coin)...]
#> Process ended at 2023-02-10 17:20:49. Total time elapsed: 0.02 minutes

# Let's get a preview of the output
as.data.frame(formatted.ACB[c(1, 4, 8, 10, 19, 20), c(1:6, 7:14, 24:26)])

date	currency	quantity	total.price	spot.rate	transaction	fees	description	comment	revenue.type	value	exchange	rate.source	currency2	gains	ACB	ACB.share
2021-05-03 22:05:50	BTC	0.0007334	51.25	69882.7777778	buy	0	crypto_purchase	Buy BTC	NA	51.25000	CDC	exchange	BTC	NA	51.2500	69882.7777778
2021-05-07 23:06:50	ETH	0.0205920	54.21	2632.5750000	buy	0	crypto_purchase	Buy ETH	NA	54.21000	CDC	exchange	ETH	NA	54.2100	2632.5750000
2021-05-21 12:47:14	BTC	0.0001300	0.00	56527.6188000	revenue	0	shakingsats	credit	airdrops	7.34859	shakepay	exchange	BTC	NA	104.2833	48886.0827905
2021-05-29 23:10:59	CRO	6.4039545	0.00	0.1764535	revenue	0	referral_card_cashback	Card Cashback	rebates	1.13000	CDC	exchange	CRO	NA	53.4200	0.1741274
2021-06-27 21:17:50	ETH	0.0007633	3.12	4087.6923838	revenue	0	crypto_earn_interest_paid	Crypto Earn	interests	3.12000	CDC	exchange	ETH	NA	57.3800	2685.1921836
2021-07-06 22:18:40	CRO	0.3207992	0.26	0.8104758	revenue	0	crypto_earn_extra_interest_paid	Crypto Earn (Extra)	interests	0.26000	CDC	exchange	CRO	NA	53.6800	0.1083560

Summary info

# Get latest ACB.share for each coin (ACB)
report_overview(formatted.ACB,
  today.data = TRUE, tax.year = "2021",
  local.timezone = "America/Toronto",
  list.prices = list.prices
)
#> gains, losses, and net have been filtered for tax year 2021

date.last	currency	total.quantity	cost.share	total.cost	gains	losses	net	rate.today	value.today	unrealized.gains	unrealized.losses	unrealized.net	currency2
2021-07-23 17:21:19	CRO	535.0406356	0.11	60.66	0.00	0	0.00	0.11	57.82	NA	-2.84	-2.84	CRO
2021-07-25 18:22:02	BTC	0.0013612	43035.55	58.58	20.57	0	20.57	30099.59	40.97	NA	-17.61	-17.61	BTC
2021-07-28 23:23:04	ETH	0.0114054	2685.19	30.63	8.25	0	8.25	2149.95	24.52	NA	-6.11	-6.11	ETH
2021-07-11 20:19:55	ETHW	0.3558067	8.99	3.20	0.00	0	0.00	5.29	1.88	NA	-1.32	-1.32	ETHW
2021-07-28 23:23:04	Total	NA	NA	153.07	28.82	0	28.82	NA	125.19	0	-27.88	-27.88	Total

# Get summary of realized capital gains and losses
report_summary(formatted.ACB,
  today.data = TRUE, tax.year = "2021",
  local.timezone = "America/Toronto",
  list.prices = list.prices
)
#> gains, losses, and net have been filtered for tax year 2021 (time zone = America/Toronto)

Type	Amount	currency
tax.year	2021	CAD
gains	28.81	CAD
losses	0.00	CAD
net	28.81	CAD
total.cost	153.07	CAD
value.today	125.19	CAD
unrealized.gains	0.00	CAD
unrealized.losses	-27.88	CAD
unrealized.net	-27.88	CAD
percentage.up	-18.21%	CAD
all.time.up	0.61%	CAD

Revenue estimation

table.revenues <- report_revenues(formatted.ACB, tax.year = "2021")
#> Note: revenues have been filtered for tax year 2021
table.revenues

exchange	date.last	total.revenues	airdrops	referrals	staking	promos	interests	rebates	rewards	forks	mining	currency
CDC	2021-07-23 17:21:19	96.15	0.00	30.19	0	0	10.36	51.15	1.2	3.2	0	CAD
shakepay	2021-06-23 12:21:49	66.28	36.28	30.00	0	0	0.00	0.00	0.0	0.0	0	CAD
total	2021-07-23 17:21:19	162.43	36.28	60.19	0	0	10.36	51.15	1.2	3.2	0	CAD

# Plot revenues by exchange
crypto_pie(table.revenues)

# Plot revenues by reward type
crypto_pie(table.revenues, by = "revenue.type")

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Disclaimer: This is not financial advice. Use at your own risks. There are no guarantees whatsoever in relation to the use of this package. Please consult a tax professional as necessary.