Crypto tax return help needed !!!!!

New CRUDY
Aug 27 5 Comments

I have done transactions on Binance and Coinbase Pro for Crypto trading.

I have used Turbotax for tax filing for past years. I file the taxes myself.

Questions:

1) I am planning to use CryptoTrader.tax / Biotcoin.tax to get a transactions file (8949?) which can be fed into TurboTax. Has someone done this before ? Anything to keep in mind ?

2) Any preferences between CryptoTrader.tax / Bitcoin.tax / anything else which is similar ?

3) I also received 1099-K from Coinbase. Do I need to add the 1099-K details also to the tax return ? I did not get a 1099-K for 2017.

4) I made losses in Crypto 🙁. Anything to keep in mind while filing the tax return due to this ?

Thanks!

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TOP 5 Comments
  • Tanium 80085
    Was in the same boat then I found myself a knowledgeable accountant. One of the better investments.
    Aug 27 1
    • New CRUDY
      OP
      Where is the accountant located ? Unable to conclusively find a good one near me
      Aug 27
  • HBO
    Grunt_

    HBO

    BIO
    Username is an insult for Jonah Ryan (Veep!) that didn’t make it to air.
    Grunt_more
    I did bear tax, probably similar. It just uses api access to tally your trades and give you instructions for turbo tax.
    Aug 27 1
    • New Booloo
      I used bear.tax too. It was pretty good and cheaper than the other alternatives
      Aug 31
  • Dell LUHV04
    Wife is an accountant. PM me if you want to talk to her.
    Aug 31 0