Do you use any cryptocurrency tax software to simplify the process? Why or why not?

Discussion in 'Crypto Assets' started by easymon1, Apr 17, 2021.

  1. easymon1

    easymon1

    Do you use any cryptocurrency tax software to simplify the process? Why or why not?
     
  2. Axon

    Axon

    I wrote a crypto bot in 2018 and I've been using https://bitcoin.tax the last couple of years for many thousands of resulting trades. They support all the exchanges I care about and using (read-only!!!) api credentials from each exchange, the site pulls in trade data automatically. TurboTax supports them too so, along with TurboTax lending some additional credibility by virtue of association, when bitcoin.tax finishes doing their calculating thing, the results get imported straight into TurboTax with a button press in the latter's UI. I'm pretty happy about the whole thing and I haven't been audited so there's that.
     
    Last edited: Apr 17, 2021
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  3. krugman25

    krugman25 Guest

    I use TokenTax. It's nearly impossible to calculate taxes for on-chain defi transactions without it. TokenTax is one of the only softwares that can calculate defi taxes. Even then it doesn't understand every smart contract interaction and can require a lot of manual work to get it all cleaned up.
     
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  4. They

    They

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