Just like in traditional markets, it’s important to understand the instruments you are trading. With crypto, there is great research being put out on a regular basis that can be helpful for deciding what to trade. Research tools that offer reliable metrics about token projects are useful in evaluating their overall health and activity.
Tax loss harvesting is one of the most effective ways to reduce your tax bill for the year. This guide outlines what tax loss harvesting is, how you can use it to reduce your bitcoin and crypto tax liability, and how you can use CryptoTrader.Tax’s Tax Loss Harvesting tool to automatically detect your greatest opportunities for tax savings.
Canada’s cryptocurrency tax policy is receiving more attention as Bitcoin and other cryptocurrencies have gained significant popularity over the past few years. This guide discusses how cryptocurrencies are taxed in Canada and provides tips on making tax compliance easy and fast for citizens through the use of cryptocurrency tax software.
Cryptocurrency loans contain some unique features and have different tax implications separate from simply buying, selling, and holding cryptocurrency. This guide discusses the tax implications for these new types of cryptocurrency financial services.
When it comes to doing your KuCoin taxes and building out your required KuCoin tax forms, a number of challenges arise. This article discusses these issues and explains the easiest way to build out your required KuCoin and cryptocurrency tax forms.
This article explains the easiest way to build out your required Bittrex and cryptocurrency tax forms.
This article breaks down the next steps for including your crypto tax reports with your entire tax return. As you will see, you have a few different options depending on how you typically file your taxes every year:
This article explains the easiest way to build out your required Kraken tax forms. Many traders use Kraken because it operates and complies within the strict regulatory environment present in the United States.
Calculating cryptocurrency gains and losses to report on Form 8949 can be an excruciating task for accountants. CryptoTrader.Tax is a platform built to automate the entire crypto tax reporting process and make your life as an accountant a whole lot less painful.
This guide discusses how cryptocurrencies are taxed in Australia and provides tips on making compliance easy for citizens. Australia’s cryptocurrency tax policy is receiving more focus after the ATO announced its plans to create a special task force focused on tackling cryptocurrency tax evasion.
When it comes to doing your Gemini taxes and building out your required Gemini tax forms, many challenges arise. This article dives into the issue and explains the easiest way to build out your required Gemini tax forms.
Binance recently announced that it will block all cryptocurrency exchange services to users in the US in the future. This guide describes how you should prepare for the loss of access from both a trading and a tax compliance perspective.
Many tax professionals are having to learn about the world of cryptocurrencies and how they are taxed as their clients have increasingly started to invest, trade, and transact in the digital asset.
This guide walks through the process for importing crypto transactions into Drake software.Drake accounting software is a widely used platform for tax professionals preparing tax returns on behalf of their clients. With the growth in popularity of bitcoin and other cryptocurrencies, many tax professionals find themselves wondering how to import their clients crypto transactions into the platform.
Application program interfaces (API’s) provide a way for one system to interact with another. In the case of cryptocurrency, API’s are often used as a way to interact with cryptocurrency exchanges. Many complementary businesses and tools have been built allowing users to connect to these exchange API’s like portfolio trackers, crypto trading bots, tax software tools, and many more.
This guide walks through how to create your first tax report within CryptoTrader.Tax. To create an accurate tax report, CryptoTrader.Tax needs your historical buys, sells, and other transaction data from every crypto exchange you have used. Without all of your transaction data from all years of transacting with cryptocurrency, the application will not have the necessary information needed to create reports.
Depending on how many cryptocurrency trades you made during the year, CryptoTrader.Tax may automatically consolidate your 8949 form into a single line. This is in accordance with section 2 of the IRS 8949 instructions, and will happen for those that have many trades (see example of consolidated 8949 below).
You can easily file your bitcoin and crypto taxes with popular tax filing software TaxAct by importing your crypto tax reports from CryptoTrader.Tax. This guide walks through the step by step process, so that you can quickly file your cryptocurrency transactions.
This article walks through the process of filing your cryptocurrency taxes through the online version of TurboTax
This guide breaks down everything you need to know about cryptocurrency taxes so that you aren’t caught unprepared when tax season roles around.
This guide breaks down the fundamentals of Bitcoin taxes and walks through the reporting process in the United States.
This article dives into the specifics behind reporting your crypto transactions on your taxes. If you are reading this, you are probably a crypto-trader or enthusiast concerned with the process of paying taxes on your trading activity.