Reporting crypto investments on your income tax

If you bought or sold any crypto over the past tax year, you may need to report any income you earned. Like trading stocks, any activity you take that results in gains – for example, buying and selling coins – could be considered income.

Note: If you’re wondering whether your transactions need to be reported, speak with a tax professional or read the CRA’s guide for crypto.

To help you prepare your tax return, we offer a document called Realized Gains and Losses. This document breaks down your adjusted book costs and your proceeds of disposition to help you report numbers on your income tax. We also offer a CSV document called Crypto Transaction Summary that is available to you for your records.

Keep in mind there is no official tax slip offered for crypto, so make sure to double-check these numbers before filing or visiting your tax professional.

Tip: If you use Wealthsimple Tax to prepare your tax return, you have the option to import your Realized Gains and Losses report.

Get your crypto gains and losses report

Access your Realized Gains and Losses report by following the steps below -

Wealthsimple app Web
  1. Sign into the Wealthsimple app on your mobile device
  2. Tap the Profile icon at the bottom of the screen
  3. Select the Accounts menu item
  4. Choose your Crypto account
  5. Select Tax Documents
  1. Go to my.wealthsimple.com and login to your Stocks, ETFs & Crypto profile
  2. Click your name at the top right-hand corner of your screen
  3. Choose My documents from the drop-down menu
  4. Select your crypto gains and losses report 
A note from the legal team: This article is provided for informational purposes only. It does not cover every aspect of the topic it addresses. The content is not intended to be tax, investment advice, legal or any other kind of professional advice. Before taking any action based on this information you should consult a tax professional. This will ensure that your individual circumstances have been considered properly and that any action you take is based on the latest available information.

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