Generate Your Tax Forms in 2 Steps
Automatically sync all of your transactions from any of the top exchanges through a read-only API. We also offer CSV uploads with our automatic CSV conversion upload tool.
Instantly download your IRS Tax Form 8949. This form can then be handed over to your accountant, or uploaded into popular tax filing software such as TurboTax, TaxAct, etc.
Gain Insight & Save Money Year Round
Trust the experts! Designed by leading Blockchain CPA’s and cryptocurrency tax attorneys, TaxBit supports over 4,200 cryptocurrencies, equities, commodities, and all fiat currencies.
TaxBit has your back with a full cost-basis breakdown. Drill-down into any transaction and see exactly how your cryptocurrency taxes were calculated.
Deductions personalized to you. Claim up to $3,000 a year in capital losses. Carry forward any additional losses. Increase your tax refund.
Thousands of cryptocurrency traders have been receiving CP2000 letters from the IRS over the past few months. CP2000 notices have been in the tax compliance world for a while and are not specific to cryptocurrency. CP2000 notices are often generated when there is a matching issue between what is reported to the IRS by an exchange/broker and a taxpayer.In the cryptocurrency realm, TaxBit has mainly…
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January 13, 2020
TaxBit is happy to announce the recent hire of former Coinbase Compliance Director Jeff Cartwright. Cartwright was an early employee at Coinbase and helped lead general compliance, internal audits, and regulatory risks. After leading compliance matters at Coinbase, Cartwright worked at Facebook as a Policy and Compliance Manager on its cryptocurrency project, Calibra.Cartwright is an attorney and…
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January 08, 2020
TaxBit, which offers cryptocurrency tax automation software for crypto users, exchanges, and merchants, announced today a $5 million seed round, with a stellar group of investors composed of Fintech leaders TTV Capital and Valar Ventures, crypto moguls Dragonfly Capital Partners, Collaborative Fund and Winklevoss Capital, and generalist investors Global Founders Capital, Table Management, Album…
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January 06, 2020
On October 9th, 2019, the IRS released long awaited guidance on the taxation of cryptocurrency through Rev. Ruling 2019-24 and an associated FAQ. Specific to this article, the IRS issued additional guidance on proper cost basis assignment methods. This article will discuss: Why cost basis assignment methods matter; andAcceptable and the most optimal IRS cost basis assignment methods for lowering…
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December 13, 2019
On October 9th 2019, the IRS released long awaited guidance on the taxation of cryptocurrency through Rev. Ruling 2019-24 and an associated FAQ, including their guidance on treatment of airdrops. The IRS takes the controversial position that the airdrop equates for taxation purposes to a dividend. As a corollary, an involuntary (and perhaps unknowing) recipient of an airdropped token would have…
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December 09, 2019
The IRS just released a new Schedule 1 for the 2019 tax season asking every taxpayer about their cryptocurrency activity. Specifically, the form requires taxpayers to respond to the following question: “At any time during 2019, did you receive, sell, send, exchange or otherwise acquire any financial interest in any virtual currency.”Signalling increased enforcement, the IRS included this question…
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December 06, 2019