Crypto Tax Report (India Schedule VDA, US Form 8949, UK CGT)

About the Crypto Tax Report (India Schedule VDA, US Form 8949, UK CGT)

A crypto tax return needs every sale, swap and coin spent in the year, matched to what those coins cost. This report builds that from the exports your exchanges and wallets let you download: trade histories, deposits and withdrawals, Coinbase’s transaction history and Kraken’s ledger, or any CSV or Excel file whose columns you choose once.

It values each transaction in rupees, dollars or pounds, pairs transfers between your own wallets so they are not taxed, lets you say what other deposits and withdrawals were (income, gifts, coins from a wallet you did not import), and then applies the rules you choose: India — 30% on the income from each transfer, losses set off against nothing, the Schedule VDA rows and a check of the 1% TDS against Form 26AS; US — Form 8949 rows wallet by wallet, first in first out or highest cost first, short- and long-term; UK — HMRC’s same-day, 30-day and section 104 pooling rules and the SA108 boxes. Your holdings and their cost close the report. Nothing you import leaves your browser.

Common uses

• Prepare Schedule VDA for an Indian return from your exchange’s trade report, and check the TDS credit.
• Build Form 8949 rows from Coinbase and wallet exports, wallet by wallet.
• Work out UK gains with the same-day and 30-day rules that spreadsheets usually get wrong.
• See what you still hold and what it cost, to plan next year’s sales.

India: Schedule VDA

• 30% on the income from transferring a virtual digital asset, whatever your slab, plus any surcharge and 4% cess (Income-tax Act, 2025, section 194(1), Table Sl. No. 4; section 115BBH of the 1961 Act before Tax Year 2026-27).
• No deduction except the cost of acquisition — not selling fees, not other expenses — and a loss is set off against nothing, not even the gain on another coin, and is not carried forward. Each row is worked out on its own, so a loss row shows nil income. Whether the fee paid when buying is part of the cost of acquisition the Act does not say: the report leaves it out unless you tick it under Report settings.
• Schedule VDA in ITR-2 and ITR-3 asks for each transfer: date of acquisition, date of transfer, head of income (capital gain, or business income for a trader), cost of acquisition, consideration received and the income (income tax returns). The report gives one row for each purchase a sale used.
• TDS: 1% of the consideration (section 393(1), Table Sl. No. 8(vi); section 194S before), credited against your tax. Tick the exchanges that deduct it, enter the credit Form 26AS or AIS shows, and see any gap.
• The Act prescribes no order for matching units; the report uses first in, first out across all your wallets.

US: Form 8949

• Digital assets are property: selling, swapping or spending them is a disposal with a gain or loss, reported on Form 8949 even without a Form 1099-DA (IRS: digital assets).
• Wallet by wallet: without a specific identification, the units sold are the earliest acquired in that wallet. Highest cost first is a specific identification, valid only if you identified the units by the time of the sale — in your records for coins you hold, with your broker for coins it holds (IRS FAQs).
• Long-term when held more than one year, counting from the day after you acquired them. Short-term rows go in Part I — box G, H or I for digital assets — long-term in Part II, box J, K or L (Form 8949 instructions).
• Proceeds are net of selling fees; basis includes buying fees; fees on a swap reduce the amount realised; moving coins between your own wallets is not taxable, but coins spent on the network fee are a disposal.
• Staking rewards and other coins received as income are ordinary income at their value when received, reported on Schedule 1; that value becomes their basis.

UK: same day, 30 days, then the pool

Each kind of token is one section 104 pool with an average cost (HMRC Cryptoassets Manual). A disposal is matched first with tokens of the same kind acquired on the same day, then with tokens acquired in the next 30 days (earliest disposal first), and only then with the pool. The report shows each disposal’s cost under each rule, as in HMRC’s worked example.

The totals are the cryptoasset boxes of the SA108 capital gains summary: 13.1 number of disposals, 13.2 proceeds, 13.3 allowable costs (including purchase price and fees), 13.4 gains and 13.5 losses. The annual exempt amount is £3,000 from 2024-25 (£6,000 in 2023-24), and gains are taxed at 18% within your unused basic rate band and 24% above it — rates that took effect part-way through 2024-25, when 10% and 20% applied before (GOV.UK).

Transfers, prices and coins from elsewhere

• A withdrawal and a deposit of the same coin in another of your files, within 72 hours and at most 5% smaller (network fees), are paired as a transfer: not taxed, and the coins keep their cost and date. The coins lost to the network fee count as spent. A transfer that took longer to arrive pairs once you widen the window under Report settings.
• Putting coins into staking or a savings product and taking them out again (Coinbase’s staking transfers, Kraken’s Earn allocations, “Staking Purchase” and “Redemption” rows) moves your own coins: it is not income and not a sale. Only the rewards and interest count as income.
• A swap, income or a fee in coins needs the coin’s value on that day in your currency. The report asks for the prices it cannot work out from the transaction itself; take them from the exchange’s price history. The prices you enter stay listed so you can check and change them. Dollar stablecoins can be valued at one US dollar (a setting).
• A deposit from your own wallet elsewhere first brings back the coins you sent to your own wallets earlier, with their cost and date, so they are neither counted twice nor treated as bought again. The rest has no known cost until you enter it (or import that wallet): otherwise its sale shows the whole proceeds as gain.

Limitations

• A working sheet from the files you import: check it against your exchange statements, Forms 1099-DA or AIS. Not tax advice.
• Futures, margin, options, lending and liquidity pools, NFTs (not pooled in the UK), and trading as a business beyond the head of income are not modelled.
• Prices are not fetched: enter or paste them. Times are taken as the file writes them, shifted by the hours you set — a trade near midnight can fall in the other tax year if the file is in UTC.
• US: specific identification is offered as highest cost first, not unit by unit. UK: the tax estimate covers 2025-26 and later, at 18% and 24%.
• Up to 20 files of 50,000 rows each at a time.

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