The Labyrinth of Profit/Loss Calculation Faced by 36%. The Paradoxical Reason Why About Half of Crypto Investors Shift to 'Expert Reliance' in Their Third Year.
Key facts
- The Labyrinth of Profit/Loss Calculation Faced by 36%. The Paradoxical Reason Why About Half of Crypto Investors Shift to 'Expert Reliance' in Their Third Year.
- A survey of 338 Japanese crypto asset investors conducted by Clabo Inc. revealed that approximately 69% have experienced difficulties with tax processing. Notably, over 55% of investors face their first problems within one year of starting, a period dubbed the 'treacherous first year.' The primary cause of stumbling is 'complex profit/loss calculation' (36.32%), with the survey highlighting that many investors postpone dealing with it. The study also shows a trend of increasing reliance on experts as investment experience grows, suggesting the importance of acquiring tax knowledge early on.
- Source: PR Times
- Date: May 28, 2026
Direct answer
A survey of 338 Japanese crypto asset investors conducted by Clabo Inc. revealed that approximately 69% have experienced difficulties with tax processing. Notably, over 55% of investors face their first problems within one year of starting, a period dubbed the 'treacherous first year.' The primary cause of stumbling is 'complex profit/loss calculation' (36.32%), with the survey highlighting that many investors postpone dealing with it. The study also shows a trend of increasing reliance on experts as investment experience grows, suggesting the importance of acquiring tax knowledge early on.
- Citation
- The Labyrinth of Profit/Loss Calculation Faced by 36%. The Paradoxical Reason Why About Half of Crypto Investors Shift to 'Expert Reliance' in Their Third Year. (May 28, 2026), PR Times
- Source
- PR Times
- Date
- May 28, 2026
A survey of 338 Japanese crypto asset investors conducted by Clabo Inc. revealed that approximately 69% have experienced difficulties with tax processing. Notably, over 55% of investors face their first problems within one year of starting, a period dubbed the 'treacherous first year.' The primary cause of stumbling is 'complex profit/loss calculation' (36.32%), with the survey highlighting that many investors postpone dealing with it. The study also shows a trend of increasing reliance on experts as investment experience grows, suggesting the importance of acquiring tax knowledge early on.
📋 Article Processing Timeline
- 📰 Published: May 28, 2026 at 10:10
- 🔍 Collected: June 1, 2026 at 00:52 (86h 42m after Published)
- 🤖 AI Analyzed: June 2, 2026 at 08:01 (31h 9m after Collected)
Clabo Inc. (Headquarters: Minato-ku, Tokyo; CEO: Ikuma Ueno) conducted a survey of 338 experienced domestic crypto asset investors regarding the timing and factors of tax-related troubles in crypto asset taxes and tax filing.
The survey revealed that approximately 69% of crypto asset investors have experienced some form of tax-related stumbling, with 55.12% of them facing their first hurdle within one year of starting to invest, a phenomenon identified as the 'treacherous first year.'
The main causes of these difficulties are 'complex profit/loss calculation (36.32%)' and the 'complexity of history management.' Overwhelmed by an excess of information online, over 30% of investors have 'postponed' taking action, leaving them with potential tax penalty risks, a serious situation brought to light by the survey.
This report explains, in a timeline format, the process by which the proportion of investors who give up on self-resolution and consult experts rises to 48.4% as the investment period lengthens, and the lesson learned from 40% of experienced investors who wished they had 'knowledge of calculation before making a profit.'
■ Survey Details
About 70% of investors acknowledge 'stumbling' with crypto taxes.
A harsh reality where 1 in 4 respondents say they 'stumbled significantly.'
We surveyed 338 individuals with experience using crypto assets (virtual currencies) about their difficulties with taxes and tax filing.
The results showed that 19.82% 'stumbled significantly,' meaning about 1 in 5 have faced a serious wall.
Including those who were 'a little troubled,' about 69% of the total have faced some tax-related challenge, making it a common and unavoidable issue for investors.
The crypto asset market operates 24/7, 365 days a year, with diverse transaction types, making it inherently difficult to track profits.
The convenience has improved, but the reality is that tax calculation rules and legal frameworks have outpaced the understanding of individual investors.
To continue investing, managing the exit strategy of taxation is as crucial a task as the skill of making profits.
Only 20% report 'no issues,' making tax knowledge acquisition an inevitable task.
Only 22.19% of respondents stated they have 'never particularly stumbled' with taxes.
This figure starkly suggests the difficulty of avoiding tax troubles unscathed while continuing to invest in cryptocurrency long-term.
Due to high volatility, the market is prone to 'unexpected profits,' making the probability of needing to file a tax return higher than with other assets.
Even for those who think 'it doesn't concern me,' tax obligations can arise from rising asset prices or exchange campaigns.
A characteristic of the crypto asset industry is that even experienced investors are forced to update their tax judgments.
Acquiring systematic knowledge and preparing at an early stage functions as a defense to protect future asset formation.
Potential trouble in the making? About 8% are 'unable to judge.'
Also noteworthy is the fact that 8.58% of investors responded that they are 'unable to judge' their own tax situation.
This represents a group with 'unconscious risk,' who are not even aware if their transactions are taxable or can be recorded as a loss.
This data symbolizes the 'potential risk of under-declaration,' where problems are only recognized after being pointed out by the tax office later.
Crypto asset taxation is based on self-assessment, and it is difficult to make correct judgments without actively seeking information.
The complacent thought that 'I'm fine for now because I'm not in trouble' could return as a significant burden of delinquent taxes years later.
To clarify one's own position, it is necessary to first organize transaction history and confirm the situation based on objective data.
The 'tax wall' arrives in less than a year. About 55% stumble early.
'Six months to less than a year' is the most common at 38%.
When asked about the timing of their first tax-related stumble, 38.03% of respondents answered 'six months to less than a year,' the most common response.
Combined with the 17.09% for 'less than six months,' over 55% of the total face some difficulty within one year of starting to invest.
This coincides with the timing of the first tax filing season after a certain period has passed since purchasing Bitcoin or other assets and profits have been made.
Initially, investors tend to focus on the joy of growing assets and trading itself, but the realistic challenge of 'tax payment' inevitably arrives.
Especially in the first year, methods for storing transaction history and the concept of profit/loss calculation are not yet established, leading to many cases of being at a loss when it's time to prepare for filing.
This data shows that how one navigates the 'treacherous first year' of crypto investing is a crucial turning point that determines the continuation of their investment journey.
13% stumble even after three years.
On the other hand, it is noteworthy that 13.25% of veteran investors with 'three or more years' of experience have encountered new stumbles.
It is often thought that one gets used to taxes after years of investing, but in the world of crypto assets, new mechanisms like DeFi, NFTs, and staking are constantly emerging.
The tax treatment related to these new technologies is extremely complex, and situations where past knowledge is insufficient are increasing.
Furthermore, the need to go back and recalculate old transaction histories from several years ago, or changes in interpretation due to tax reforms, also cause experienced investors to stumble.
Overconfidence like 'I'm used to it, so I'm fine' is a pitfall; a continuous attitude of updating to the latest tax information is required.
Regardless of years of experience, maintaining a sense of tension that crypto investing and tax risks are always side by side leads to long-term asset protection.
20s should be wary of early drop-off in less than six months.
A cross-tabulation by age group shows that among those in their 20s, stumbling 'in less than six months' is higher at 23.44% compared to other age groups.
Younger people have the drive to start investing immediately based on information from social media, but on the flip side, they are more likely to face trouble without adequate tax preparation.
Conversely, as age increases, stumbling in less than six months decreases, and for those in their 40s and older, the peak shifts to 'six months to less than a year.'
This suggests that older investors tend to start more cautiously, but many realize the complexity of calculation after a year's worth of transactions has accumulated.
While a major hurdle comes within the first year of investing for all age groups, those in their 20s should particularly strengthen their tax awareness at the start.
Rather than 'making a profit first,' establishing a rule for 'how to keep records' is the most effective way to prevent early stumbles.
The labyrinth of profit/loss calculation. The nature of 'incalculable' faced by about 36%.
Understanding profit/loss calculation is number one.
When asked about the first point they felt 'I don't understand' in taxes, 'the concept of profit/loss calculation' was the most common answer at 36.32%.
Cryptocurrency calculation requires specialized concepts like the total average method or moving average method, and automatic calculation in a designated account like in stock investment is not common.
Therefore, many investors are overwhelmed by the complex logic when they try to calculate it themselves.
It's not just a simple calculation of 'how much I bought for and how much I sold for'; the taxable events are diverse, including exchanges for other currencies and use for payments, which adds to the confusion.
Especially when profits are spread across multiple coins, determining which transactions are taxable and which acquisition cost to apply is an extremely high hurdle for beginners.
This result indicates that while lowering the barrier to market entry, building a support system for the exit, which is 'calculation,' is an urgent issue.
'No records' is the biggest calculation risk.
The next most common issue was 'how to organize transaction history,' with 23.93% of investors struggling with data management.
All past transaction history is essential for cryptocurrency profit/loss calculation, but the CSV data format differs by exchange, making unified management difficult.
Many people face the risk of being unable to perform accurate calculations because they forgot to download past data or the exchange has closed down when they try to start calculating.
Also, transfer histories between wallets and private transactions not via an exchange are easily missed and difficult to reconstruct later.
'Having no history' is a major tax weakness and, in the worst case, can lead to unfavorable outcomes for the investor, such as being forced into estimated taxation.
The habit of organizing and saving data with each transaction is the only map to escape the calculation labyrinth.
Those investing for over a year struggle with multiple exchanges.
A cross-tabulation of stumbling timing and content showed a trend where the longer the investment period, the more people struggle with 'handling multiple exchanges and wallets.'
For those who just started investing ('less than six months'), it's only 2.5%, but it rises to 12.9% for those with over a year of experience and 16.1% for those with over three years.
This is because as investment gets on track, the number of platforms used for risk diversification and securing coins increases, physically magnifying the complexity of management.
Especially when using overseas exchanges and personal wallets, maintaining the consistency of asset movements becomes significantly more difficult.
On the other hand, 30% of those in the early investment stage struggle with 'determining if a tax return is necessary,' with the focus on understanding basic rules.
This data clearly shows that as the investment stage progresses, the nature of the stumble shifts from 'understanding the rules' to the practical task of 'data reconciliation.'
Information flood and applying it to 'oneself.' 32% are stuck due to disorganization.
While self-resolution is mainstream, 30% 'neglect' it. Consultation with experts is just under 40%.
Understanding profit/loss calculation is the best defense. What experienced investors say about prior preparation.
Conclusion
For the detailed report of the survey, including the content above, please check the main article.
■ Survey Overview
Survey Date: February 24, 2026
Survey Method: Internet survey
Survey Target: Men and women residing in Japan (people who are investing or have invested in crypto assets)
Number of valid responses: 338
Implementing organization: Clabo Inc.
■ Company Profile
Clabo Inc.
Location: 16F Ark Hills South Tower, 1-4-5 Roppongi, Minato-ku, Tokyo 106-0032
CEO: Ikuma Ueno
Established: July 2025
The survey revealed that approximately 69% of crypto asset investors have experienced some form of tax-related stumbling, with 55.12% of them facing their first hurdle within one year of starting to invest, a phenomenon identified as the 'treacherous first year.'
The main causes of these difficulties are 'complex profit/loss calculation (36.32%)' and the 'complexity of history management.' Overwhelmed by an excess of information online, over 30% of investors have 'postponed' taking action, leaving them with potential tax penalty risks, a serious situation brought to light by the survey.
This report explains, in a timeline format, the process by which the proportion of investors who give up on self-resolution and consult experts rises to 48.4% as the investment period lengthens, and the lesson learned from 40% of experienced investors who wished they had 'knowledge of calculation before making a profit.'
■ Survey Details
About 70% of investors acknowledge 'stumbling' with crypto taxes.
A harsh reality where 1 in 4 respondents say they 'stumbled significantly.'
We surveyed 338 individuals with experience using crypto assets (virtual currencies) about their difficulties with taxes and tax filing.
The results showed that 19.82% 'stumbled significantly,' meaning about 1 in 5 have faced a serious wall.
Including those who were 'a little troubled,' about 69% of the total have faced some tax-related challenge, making it a common and unavoidable issue for investors.
The crypto asset market operates 24/7, 365 days a year, with diverse transaction types, making it inherently difficult to track profits.
The convenience has improved, but the reality is that tax calculation rules and legal frameworks have outpaced the understanding of individual investors.
To continue investing, managing the exit strategy of taxation is as crucial a task as the skill of making profits.
Only 20% report 'no issues,' making tax knowledge acquisition an inevitable task.
Only 22.19% of respondents stated they have 'never particularly stumbled' with taxes.
This figure starkly suggests the difficulty of avoiding tax troubles unscathed while continuing to invest in cryptocurrency long-term.
Due to high volatility, the market is prone to 'unexpected profits,' making the probability of needing to file a tax return higher than with other assets.
Even for those who think 'it doesn't concern me,' tax obligations can arise from rising asset prices or exchange campaigns.
A characteristic of the crypto asset industry is that even experienced investors are forced to update their tax judgments.
Acquiring systematic knowledge and preparing at an early stage functions as a defense to protect future asset formation.
Potential trouble in the making? About 8% are 'unable to judge.'
Also noteworthy is the fact that 8.58% of investors responded that they are 'unable to judge' their own tax situation.
This represents a group with 'unconscious risk,' who are not even aware if their transactions are taxable or can be recorded as a loss.
This data symbolizes the 'potential risk of under-declaration,' where problems are only recognized after being pointed out by the tax office later.
Crypto asset taxation is based on self-assessment, and it is difficult to make correct judgments without actively seeking information.
The complacent thought that 'I'm fine for now because I'm not in trouble' could return as a significant burden of delinquent taxes years later.
To clarify one's own position, it is necessary to first organize transaction history and confirm the situation based on objective data.
The 'tax wall' arrives in less than a year. About 55% stumble early.
'Six months to less than a year' is the most common at 38%.
When asked about the timing of their first tax-related stumble, 38.03% of respondents answered 'six months to less than a year,' the most common response.
Combined with the 17.09% for 'less than six months,' over 55% of the total face some difficulty within one year of starting to invest.
This coincides with the timing of the first tax filing season after a certain period has passed since purchasing Bitcoin or other assets and profits have been made.
Initially, investors tend to focus on the joy of growing assets and trading itself, but the realistic challenge of 'tax payment' inevitably arrives.
Especially in the first year, methods for storing transaction history and the concept of profit/loss calculation are not yet established, leading to many cases of being at a loss when it's time to prepare for filing.
This data shows that how one navigates the 'treacherous first year' of crypto investing is a crucial turning point that determines the continuation of their investment journey.
13% stumble even after three years.
On the other hand, it is noteworthy that 13.25% of veteran investors with 'three or more years' of experience have encountered new stumbles.
It is often thought that one gets used to taxes after years of investing, but in the world of crypto assets, new mechanisms like DeFi, NFTs, and staking are constantly emerging.
The tax treatment related to these new technologies is extremely complex, and situations where past knowledge is insufficient are increasing.
Furthermore, the need to go back and recalculate old transaction histories from several years ago, or changes in interpretation due to tax reforms, also cause experienced investors to stumble.
Overconfidence like 'I'm used to it, so I'm fine' is a pitfall; a continuous attitude of updating to the latest tax information is required.
Regardless of years of experience, maintaining a sense of tension that crypto investing and tax risks are always side by side leads to long-term asset protection.
20s should be wary of early drop-off in less than six months.
A cross-tabulation by age group shows that among those in their 20s, stumbling 'in less than six months' is higher at 23.44% compared to other age groups.
Younger people have the drive to start investing immediately based on information from social media, but on the flip side, they are more likely to face trouble without adequate tax preparation.
Conversely, as age increases, stumbling in less than six months decreases, and for those in their 40s and older, the peak shifts to 'six months to less than a year.'
This suggests that older investors tend to start more cautiously, but many realize the complexity of calculation after a year's worth of transactions has accumulated.
While a major hurdle comes within the first year of investing for all age groups, those in their 20s should particularly strengthen their tax awareness at the start.
Rather than 'making a profit first,' establishing a rule for 'how to keep records' is the most effective way to prevent early stumbles.
The labyrinth of profit/loss calculation. The nature of 'incalculable' faced by about 36%.
Understanding profit/loss calculation is number one.
When asked about the first point they felt 'I don't understand' in taxes, 'the concept of profit/loss calculation' was the most common answer at 36.32%.
Cryptocurrency calculation requires specialized concepts like the total average method or moving average method, and automatic calculation in a designated account like in stock investment is not common.
Therefore, many investors are overwhelmed by the complex logic when they try to calculate it themselves.
It's not just a simple calculation of 'how much I bought for and how much I sold for'; the taxable events are diverse, including exchanges for other currencies and use for payments, which adds to the confusion.
Especially when profits are spread across multiple coins, determining which transactions are taxable and which acquisition cost to apply is an extremely high hurdle for beginners.
This result indicates that while lowering the barrier to market entry, building a support system for the exit, which is 'calculation,' is an urgent issue.
'No records' is the biggest calculation risk.
The next most common issue was 'how to organize transaction history,' with 23.93% of investors struggling with data management.
All past transaction history is essential for cryptocurrency profit/loss calculation, but the CSV data format differs by exchange, making unified management difficult.
Many people face the risk of being unable to perform accurate calculations because they forgot to download past data or the exchange has closed down when they try to start calculating.
Also, transfer histories between wallets and private transactions not via an exchange are easily missed and difficult to reconstruct later.
'Having no history' is a major tax weakness and, in the worst case, can lead to unfavorable outcomes for the investor, such as being forced into estimated taxation.
The habit of organizing and saving data with each transaction is the only map to escape the calculation labyrinth.
Those investing for over a year struggle with multiple exchanges.
A cross-tabulation of stumbling timing and content showed a trend where the longer the investment period, the more people struggle with 'handling multiple exchanges and wallets.'
For those who just started investing ('less than six months'), it's only 2.5%, but it rises to 12.9% for those with over a year of experience and 16.1% for those with over three years.
This is because as investment gets on track, the number of platforms used for risk diversification and securing coins increases, physically magnifying the complexity of management.
Especially when using overseas exchanges and personal wallets, maintaining the consistency of asset movements becomes significantly more difficult.
On the other hand, 30% of those in the early investment stage struggle with 'determining if a tax return is necessary,' with the focus on understanding basic rules.
This data clearly shows that as the investment stage progresses, the nature of the stumble shifts from 'understanding the rules' to the practical task of 'data reconciliation.'
Information flood and applying it to 'oneself.' 32% are stuck due to disorganization.
While self-resolution is mainstream, 30% 'neglect' it. Consultation with experts is just under 40%.
Understanding profit/loss calculation is the best defense. What experienced investors say about prior preparation.
Conclusion
For the detailed report of the survey, including the content above, please check the main article.
■ Survey Overview
Survey Date: February 24, 2026
Survey Method: Internet survey
Survey Target: Men and women residing in Japan (people who are investing or have invested in crypto assets)
Number of valid responses: 338
Implementing organization: Clabo Inc.
■ Company Profile
Clabo Inc.
Location: 16F Ark Hills South Tower, 1-4-5 Roppongi, Minato-ku, Tokyo 106-0032
CEO: Ikuma Ueno
Established: July 2025
FAQ
How does Japan's crypto tax system differ from Taiwan's?
In Japan, crypto profits are generally treated as 'miscellaneous income,' subject to a progressive tax rate of up to 55% when combined with other income. In Taiwan, it is often treated as overseas income and is still under discussion, but Japan's complex calculation methods serve as a future reference.
Are these survey results applicable to Taiwanese investors?
Yes, challenges like the complexity of profit/loss calculation and managing transaction histories from multiple exchanges are universal problems faced by many investors regardless of country. Taiwanese investors are likely to experience similar difficulties.
Are there crypto profit/loss calculation tools available in Taiwan?
Many international tools like Koinly and Cointracking support major Taiwanese exchanges. As the tax regulations become more established, more tools specific to the Taiwanese market may emerge.
How are DeFi and NFT transactions taxed in Japan?
In Japan, income from DeFi lending rewards and capital gains from NFT sales are taxable. However, specific calculation methods and valuation points are still unclear in many areas, with interpretations varying even among experts.
What are the penalties for failing to file taxes in Japan?
Penalties include a non-filing surcharge and delinquent tax. If it is deemed intentional income concealment, a heavier penalty (heavy additional tax) may be imposed, posing a risk of a very high amount of back taxes.