Import trades, calculate gains, and prepare your tax report in 10 minutes!
Enables you to import your crypto tax data into TurboTax online, or give them to your CPA, or simply file them yourself!
KANSAS CITY, MO, USA [Mar 4, 2019] – CryptoTrader.Tax, a Missouri-based software development start-up, has today announced the launch of its revolutionary crypto tax software that automates the entire tax reporting process for cryptocurrency. CryptoTrader.Tax is the easiest and the most accurate way to calculate trading gains and prepare your crypto taxes. Having partnered with Intuit, you can import your crypto tax data directly into TurboTax online. Customers can create the necessary crypto tax reports on CryptoTrader.Tax and export them into TurboTax.
Crypto Taxes Done in Minutes!
The IRS treats cryptocurrency as property for tax purposes. This means you are required to report your capital gains and losses from your crypto trades on your taxes. To properly report these transactions, you need to report your original cost basis, the fair market value in USD of the coin at the time of the trade, and the amount of gain or loss you incurred for every cryptocurrency transaction you made. This becomes an impossible task to do by hand as the historical USD prices for all coins are not readily available. CryptoTrader.Tax automates this entire process.
“You simply upload your cryptocurrency trades into the platform. The software will automatically crunch your capital gains and losses numbers and generate the necessary tax documents including the IRS form 8949,” said David Kemmerer, Co-founder of CryptoTrader. “CryptoTrader.Tax makes it easy to calculate your crypto tax liability and save time doing your crypto taxes.”
- Minimize your tax liability: CryptoTrader calculates your crypto tax liability using the same First-In-First-Out method that CPAs use. It assures that you are paying the correct amount and minimizing your tax liability.
- Easily Import your trade history data: CryptoTrader makes it easy to import your trading history across all cryptocurrency exchanges. In less than 10 minutes, you can have the year’s trading history ready for review.
- Export your tax documents for easy filing: You can download your IRS forms to either file yourself, send to your CPA, or import into TurboTax Online.
- Generate Multiple Reports: The software generates the following reports for each tax season:
- Cryptocurrency Income Report
- Short & Long Term Sales Report
- IRS Form 8949
- Audit Trail Report
- End of Year Positions Report
- TurboTax Online Direct Import
Click here to get a glimpse of How CryptoTrader.Tax Works.
About CryptoTrader.Tax and its Founders:
Founded in December 2018, CryptoTrader.Tax is an automated crypto tax processing platform that was built out of necessity by the founders after getting into the world of crypto back in early 2017 and later realizing the tax implications of it all. Thousands of people have already used the software to do their crypto taxes, and partnering up with TurboTax has helped the company bring the product to many more users.
All under the age of 25, the young founders: David Kemmerer, Lucas Wyland, and Mitchell Cookson are looking to enable the world of cryptocurrency by making it more accessible for the average consumer. Lucas and Mitchell are both full stack developers with a depth of technical know-how. David rounds out the team with a background in growth marketing, SEO, and software sales. To learn more about CryptoTrader.Tax, please send an email to [email protected] or visit https://www.cryptotrader.tax/