Even with the best coin tracking tools, sometimes you simply don’t have the time to build an accurate cryptocurrency report for your tax return. Or perhaps you have questions about your report and want to make sure it’s 100% correct before handing it off to the IRS.
Bitcoin.Tax full service tax prep is here to help! We partner with industry-leading crypto tax professionals to handle the report for you and answer your most complex reporting questions.
Here are 5 ways our professional partners can make your crypto reporting a breeze:
Complicated report? Pass it off to a pro
Did you perform hundreds or even thousands of trades last year? Did you use more than one exchange or wallet, or engage in complex crypto activity like staking and airdrops?
If so, you’ll probably end up in one of two situations when building your Bitcoin.Tax report:
- You get frustrated and give up on your crypto tax report.
- You finish your report, but you’re not 100% sure it’s right.
Either way, a professional can help. With the click of a button, you can share your completed or in-progress report with our crypto-savvy tax partners. They’ll review your information, fill in the blanks, and check that your report follows the latest crypto tax laws before you file your return.
Fix your prior-year reports—without hours of extra work
The IRS has become more laser-focused on cryptocurrency with each passing year. Whether you’ve already received an IRS warning letter or you want to avoid one, amending your previous tax returns is the best way to stay out of the agency’s warpath.
If the thought of sifting through years of crypto trades is giving you a headache already, don’t worry; our professional crypto tax partners can take care of it for you.
They can also highlight any red flags that put you at risk for an audit; provide one-on-one advice for your most complicated crypto tax questions; and even help with tax debt you might have accrued from previous years.
Track down lost or missing information
If you’ve lost some of your historical information, including passwords or wallet keys, a crypto tax professional can help rebuild your history by tracing activity on the blockchain.
Crypto tax software, including Bitcoin.Tax, can only use the information you provide. A professional, however, can trace the blockchain to identify your missing transactions (or at least come as close as possible). Our crypto tax partners have a history of success using this method to create full reports that satisfy the IRS. When blockchain tracing is not possible, our professionals can walk you through the legalities of using certain assumptions and estimates.
Feel confident about minimizing your chance of an audit
If you want to play it safe and stay well off the IRS’s radar, it’s a good idea to get your report reviewed by a cryptocurrency tax professional. They can flag any potential audit risks, nip problems in the bud, and provide rock-solid legal advice for your most complicated crypto tax questions.
Save on taxes next year with proactive planning
Take advantage of tax-saving strategies like loss harvesting, charitable donations, and specific identification by working with a crypto tax professional now. Our tax partners will leverage every opportunity to lower your tax bill, including non-crypto-related strategies.
How to Use the Bitcoin.Tax Full Preparation Tax Service
Visit our full-service page, choose a package and click “Continue” to submit your information
One of our professional crypto tax partners will contact you to schedule a 30-minute, confidential consultation
If you have a Bitcoin.Tax account already, go to your Access tab in Account settings, and click "Invite" to enter your tax preparer's email address and share information you’ve entered so far *
Sit back and relax. Your crypto tax professional will take over from here!
* This will only share the trade information you’ve added to Bitcoin.Tax. We do not share any other information from your account.
Bitcoin.Tax is the leading capital gains and income tax calculator for Bitcoin and cryptocurrencies. You can sign up for free at https://bitcoin.tax/signup.