RP2 is a free, open-source crypto tax calculator for people who want to keep their transaction records and tax results on their own computer. It suits active traders, hobbyists with many transfers between wallets and exchanges, and anyone who would rather not upload financial history to an online service. The project is non-commercial, and its author has used it personally for several years.
The program focuses on the hard part of crypto taxes: following coin flows and working out which lots were disposed of and what the resulting gains or losses are. RP2 produces reports that accountants can read, including a layout modeled on IRS Form 8949 for US filers. Its code was last updated in January 2026, and the current version is 1.7.2, so the project is active.
What Is RP2 and What Problem Does It Solve?
RP2 is a command-line style tax engine aimed at a specific problem: calculating capital gains and losses from many crypto transactions. Anyone who has bought and sold a coin across several dates knows the difficulty. Each sale has to be matched with the right purchase, fees and transfers affect the numbers, and the same coin may sit in several wallets.
Without a tool, people often end up with a spreadsheet that grows fragile over time. A single missing row can change the totals, and the file is hard to explain to someone else. RP2 replaces that process with a repeatable calculation. You keep the source records, run the calculation, and get results you can rerun whenever the inputs change.
The program is built around privacy and transparency. Its authors keep the data on your machine and make the logic visible, so the result is something you can understand rather than a black box.
Who Is RP2 Best Suited For?
RP2 fits people with enough transactions that a manual method becomes risky. A day trader who moves coins between exchanges and self-custody wallets is one example. A long-term holder who made periodic purchases over many years and sold part of the position is another. In both cases the number of lots grows quickly.
It also suits people who want to hand a clear report to an accountant. Rather than sending a pile of exports and asking for help, you can share the calculated results and the underlying steps. That can shorten the back-and-forth at tax time.
The tool is less suited to someone with a handful of trades who already uses a tax platform that imports records automatically. In that case the setup effort may not pay off. The right choice depends on how much control and local storage matter to you.
How Lot-Based Accounting Shapes Your Results
Most crypto tax calculations rest on lot-based accounting. Each purchase creates a lot with a date and a cost. When you sell or spend part of a holding, the program decides which lot or lots the disposal comes from, and the gain or loss depends on that choice.
Because one sale can draw from several lots, a single transaction may produce multiple gain entries with different holding periods. Short-term and long-term treatment can then apply to different portions of the same sale. Seeing that breakdown is one reason an audit trail matters.
Tracking lot fractions by hand is tedious and error-prone. A calculator that records each fraction and its details lets you verify the logic rather than trusting a single total. For many users, that transparency is the main value of a dedicated tool.
Key features
Lot-level tax calculation
Accountant-friendly reports
Local storage of your data
Step-by-step verification
Full audit trail for every lot
Open source and non-commercial
How to install RP2 on Windows
- 1
Get the program from the official source
Download RP2 only from the official website or the project's GitHub repository. The download instructions in the project's README on GitHub point to the release files, so start there and look for the latest release, version 1.7.2 at the time of writing. Avoid mirror sites and third-party bundles that repackage the program.
- 2
Check the file before you run it
If the release page lists a SHA-256 checksum or a signature, compare it with your downloaded file before opening anything. On Windows, PowerShell's Get-FileHash command can print the SHA-256 value. A mismatch means the file should not be used.
- 3
Confirm the Windows build
The project's repository indicates that it builds for Windows, but the exact packaging can change between releases. Read the release notes for the Windows file and make sure it matches your system before installing.
-
Install and run the program
Follow the installation method described in the release notes, then launch RP2 from a terminal window. Keep your transaction files in a folder you control, because the program reads them locally and stores results on your computer.
How to use RP2
RP2 works from your own records, so the most useful habit is to prepare clean inputs before running a calculation. The program expects two input files, and you should set them up carefully because every later figure depends on them.
- Gather your transaction history from every exchange and wallet you used during the tax year.
- Prepare the two input files RP2 requires, following the format described in the project documentation.
- Place the files in a dedicated working folder so that results and inputs stay together.
- Run the calculation for the relevant tax year and save the output.
- Open the generated report and compare its totals with your own rough estimate of gains and losses.
- Use the step-by-step verification to trace one or two disposals from start to finish, paying attention to lot matching.
- Keep the inputs, outputs and version number together so you can reproduce the result later.
If something looks off, check the input file first. Most discrepancies come from a missing transfer or a date entered in the wrong format, not from the calculation itself.
Pros & cons
- Free and open source, with no paid version
- Keeps transactions and tax results on your own computer
- Generates reports structured around Form 8949 for US filers
- Lets you verify each step of the calculation
- Provides a per-lot audit trail for documentation
- Listed for Windows, macOS and Linux
- Actively updated, with a code update in January 2026
- Results carry no guarantee of correctness, so you must check them yourself
- The author is not a tax professional, so review with a qualified tax advisor is still necessary
- Requires preparing two input files before a calculation can run
- Less convenient than tools that import exchange data automatically
- Windows use depends on the release you choose, so you need to check the build
Is RP2 safe?
RP2 is not a wallet and does not manage funds, but it handles detailed records of your financial activity, so treat it with care. Download the program only from the official website or the project's GitHub repository, and compare the SHA-256 checksum or signature when the release provides one. The project's last code update was January 26, 2026, so it is not abandoned, but check the latest version on the official website before you start a new tax season. Keep your transaction files on an encrypted drive and avoid sending them to online services that offer to calculate taxes for you. A tax calculator has no reason to ask for a seed phrase or private keys, and you should never enter one on a third-party site.
- Official source only. Download from github.com/eprbell/rp2. Ignore ads and lookalike domains.
- Check the SHA-256. Compare the installer hash with the value the developer publishes before running it.
- Never share your seed phrase. No developer, support agent or website — including CryptApps — will ever ask for it.
Alternatives
Several programs in the same catalog cover neighboring tasks, and comparing them helps clarify RP2's role. Dumplings focuses on CoinJoin analysis, which is about examining privacy-oriented transactions rather than reporting gains. PSBT Commander is a Rust-based tool for creating partially signed Bitcoin transactions, so it sits in the transaction-building part of the workflow. Subzero is about keeping Bitcoin reserves offline for security.
RP2 is different because its job is the tax result. It takes a record of transactions and turns it into reportable figures, with an audit trail and a local data model. If you need to understand a transaction at the protocol level, a tool like PSBT Commander or Dumplings may be more relevant. If you need to report gains accurately, RP2 addresses that question directly.
Specifications
- Price
- Free
- Type
- Open source
- License
- —
- Latest version
- 1.7.2
- Last update
- 26 Jan 2026
- Windows support
- Likely (builds for Windows; check releases)
- Source code
- github.com/eprbell/rp2
Frequently asked questions
Yes, RP2 is free and open source. The project describes itself as non-commercial, and there is no paid version. You can download the program and use it without a license fee, but you should still verify the results yourself or with a tax professional.
No, RP2 stores transactions and tax results on your computer and does not send them anywhere else. That local approach is the main reason many users choose it. You should still protect the files on your own machine, because anyone with access to your computer could read them.
RP2 generates reports that accountants can read. For US users, the output follows the structure of IRS Form 8949, which is used to report capital gains and losses. The program also lets you trace each lot and its accounting details if you need to explain a figure.
The project lists Windows among its platforms and its repository notes that it builds for Windows. Check the release page for the Windows build that matches your system. Because packaging can change between versions, reading the release notes before installing is the safest step.
No, but you should understand the basics of capital gains and lot-based accounting. The program handles the calculation, while you are responsible for correct input records. The author is not a tax professional, so a qualified advisor should review anything you plan to file.
RP2 does not need your private keys or seed phrase, and it keeps data on your computer. Download it only from the official website or GitHub, compare the checksum when available, and keep your transaction files secure. Never enter a seed phrase on a third-party website, even one claiming to help with taxes.
Many tax platforms connect to exchanges and import records automatically, which saves time but sends data to a service. RP2 requires you to prepare inputs yourself, which takes more effort. In exchange, your records stay local and every step of the calculation is visible.
Verdict
RP2 suits people who want control over their crypto tax calculation and are willing to prepare their own records. It is a good fit for active traders, long-term holders with many lots, and anyone who wants a transparent audit trail. Its local storage and open-source code will appeal to privacy-conscious users. If you want automatic imports and a polished interface, a commercial tax platform may be easier. Whatever you choose, have a tax professional review the final figures.