← The Desk
Taxes — 2026 running estimate
Every closed round-trip, priced in dollars at that day's SOL close, netted, and run through the single-filer ladder as if the year ended today
YTD realized net gain
-$28,035
-305.6 SOL, losses netted
Est. tax if year ended today
$0
first $16,100 is deduction-free
Effective rate
0%
taxable after deduction: $0
Reserve target (25%)
$0
vault holds $721 — covered
By month
| Month | Trips | Net SOL | Net USD |
|---|---|---|---|
| Jan 2026 | 148 | -12.13 | -$1,698 |
| Feb 2026 | 96 | -21.91 | -$1,881 |
| Mar 2026 | 435 | -40.25 | -$3,410 |
| Apr 2026 | 292 | -158.01 | -$13,248 |
| May 2026 | 110 | -2.65 | -$313 |
| Aug 2026 | 255 | -4.70 | -$304 |
| Sep 2026 | 1021 | -1.28 | -$557 |
| Oct 2026 | 1165 | -64.64 | -$6,623 |
By quarter
| Quarter | Trips | Net SOL | Net USD |
|---|---|---|---|
| Q1 2026 | 679 | -74.29 | -$6,989 |
| Q2 2026 | 402 | -160.65 | -$13,561 |
| Q3 2026 | 1276 | -5.97 | -$861 |
| Q4 2026 | 1165 | -64.64 | -$6,623 |
No quarterly payments owed this year: the safe harbor is met when you pay in 100% of last year's tax, which was $0. The reserve exists so April is boring.
Tax rules of the desk
- The stables tripwire. Once the reserve target crosses $2,500, the tax slice of every sweep converts to USDC on arrival. The bill is denominated in dollars; the money set aside for it holds dollars. A SOL decline is deductible at the marginal rate only — never dollar-for-dollar — so SOL cannot back a fixed dollar liability. After Dec 31 locks the year, the reserve slice is the IRS's, senior to everything: not for re-funding the stack, not for opportunities, not for anything, until April clears.
- The December harvest. Before Dec 31, every holding gets checked against its cost basis. Underwater positions are sold to realize the loss — crypto has no wash-sale rule, so anything worth keeping can be repurchased immediately. Losses only offset gains inside the same calendar year; after midnight they shrink to $3,000/yr. The harvest makes the taxable net equal the real net, then the reserve is topped up or released to match.
How this is computed — and what it is not
Short-term capital gains, single filer, no other income, Colorado resident. Each closed round-trip is converted to USD at that day's SOL/USD close (CoinGecko); wins and losses net against each other. The ladder: standard deduction $16,100, then 10% / 12% / 22% / 24%… federal brackets, Colorado flat 4.4%, and the 3.8% NIIT surtax above $200k. The reserve rate slides up as the year grows (25% under $50k, 30% to $150k, 37.5% above). Open positions and staking income are not included. This is a running estimate for situational awareness — not tax advice and not a filing document. The filing document is the trade ledger itself (Form 8949 comes from it at year-end).