Calculate Taxable Event
As a crypto trader, I need to quickly identify which of my trades resulted in a profit, indicating a potential taxable event. Specifically, I need to check if 'Sell Price' is greater than 'Buy Price'. If yes, I want to mark it as 'Yes', otherwise 'No'.
=IF(D2>C2, "Yes", "No") How it works: The IF function evaluates a logical test. In this scenario, `D2>C2` checks if the 'Sell Price' (in cell D2) is greater than the 'Buy Price' (in cell C2). If this condition is TRUE (meaning a profit was made), the function returns "Yes". If the condition is FALSE (meaning a loss or break-even), it returns "No". This allows you to quickly flag transactions that might require further tax consideration.
Data Setup
| Transaction ID | Crypto | Buy Price (USD) | Sell Price (USD) | Quantity | Taxable Event? |
|---|---|---|---|---|---|
| 1001 | BTC | 30000 | 35000 | 0.1 | Yes |
| 1002 | ETH | 2000 | 1800 | 0.5 | No |
| 1003 | ADA | 0.5 | 0.6 | 1000 | Yes |
| 1004 | DOGE | 0.1 | 0.08 | 5000 | No |
| 1005 | SOL | 150 | 150 | 2 | No |
Step-by-Step Guide
Open your Excel spreadsheet containing your crypto transaction data.
Identify the columns for 'Buy Price' (e.g., Column C) and 'Sell Price' (e.g., Column D).
Select the first empty cell in the column where you want to display the 'Taxable Event?' status (e.g., F2).
Enter the formula: `=IF(D2>C2, "Yes", "No")`.
Press Enter to see the result for the first transaction.
Drag the fill handle (the small square at the bottom-right of cell F2) down to apply the formula to the rest of your transactions.