Free tool
USDC adjusted cost base calculator
Work out your weighted-average ACB and the gain or loss on each conversion, the way Canadian tax rules require. Runs in your browser, with nothing to sign up for. Loaded with the example from our USDC income tax guide.
Your transactions
For a payment, use its CAD value on the day you received it. The Bank of Canada's daily USD/CAD rate × the USDC amount is a common, consistent choice.
Income (paid for work)
$6,890.00
Conversion proceeds
$3,480.00
ACB of USDC sold
$3,445.00
Total gain (loss)
$35.00
| Date | Transaction | Gain (loss) | USDC held | Cost base | ACB / USDC |
|---|---|---|---|---|---|
| 2026-03-03 | Paid for work 2,000.00 USDC | — | 2,000.00 | $2,720.00 | $1.3600 |
| 2026-04-14 | Paid for work 3,000.00 USDC | — | 5,000.00 | $6,890.00 | $1.3780 |
| 2026-04-30 | Sold / converted 2,500.00 USDC$3,480.00 − ACB $3,445.00 | $35.00 | 2,500.00 | $3,445.00 | $1.3780 |
How the calculation works
- Each payment or purchase adds to the pool. The USDC is added to your holdings and its CAD value or cost is added to the total cost.
- ACB per USDC is the average. Total cost divided by the USDC you hold. It changes when you add USDC, not when you sell.
- A sale relieves cost at the average. Selling 1,000 USDC takes 1,000 × the ACB out of the pool. Your gain or loss is the CAD you received minus that amount.
This tool is for a quick check. Mintare does the same calculation automatically for every invoice payment and Kraken conversion, keeps the Bank of Canada rate with each record, and exports it all for your accountant. It's general information, not tax advice.
Stop keeping this spreadsheet by hand
Mintare records every USDC payment and conversion with its CAD value and ACB, automatically.
Questions
Why weighted average and not first-in, first-out?
Canadian tax rules treat identical properties, such as units of the same stablecoin, as one pool with an average cost. FIFO and specific identification are used in other countries but give the wrong ACB for a Canadian return.
What CAD value should I use for a USDC payment?
Its value in Canadian dollars when you received it, using a reasonable method you apply consistently. Because USDC tracks the US dollar, the Bank of Canada's daily USD/CAD rate is a common choice.
Should I include exchange fees?
Yes. Add purchase fees to the cost of what you bought, and subtract selling fees from your proceeds. Enter the net CAD you received for a conversion.
Do I need one calculation per wallet?
No. The pool covers all the USDC you hold, across wallets and exchanges. Moving USDC between your own wallets isn't a disposition and doesn't belong in the calculator.
Is my data saved or sent anywhere?
No. The calculator runs entirely in your browser, and nothing you type is sent to Mintare.