Bitcoin Taxes For Tax Professionals and Accountants

Do you have clients asking

  • Do I need to declare my mining income?
  • I sold some of my Bitcoins this year, what do I do?
  • Do I need to report every time I spent my Bitcoin?

If so, you are already in, or have just entered, the world of digital currencies and their tax implications. Digital currencies, such as Bitcoin, Litecoin and Dogecoin are a new experimental, technological, currency that can be traded at online exchanges as well as used to purchase goods and services. More and more retailers are accepting Bitcoin as a form of payment alongside credit cards and PayPal.

Bitcoin, the most well-known digital currency, is legal in almost all countries although its tax implications are really only beginning to be formalized. Although it might behave more like a real currency, the US for instance, treat Bitcoins as a capital asset for tax purposes. Selling, or even spending, can have capital gains implications.

Coins are created from mining. The process by which a Bitcoin is generated and given to someone in return for spending computational resources. Mined coins are generally recognized as income at their fair value, although that value itself is not always quite so straight-forward to calculate.

How BitcoinTaxes Can Help

BitcoinTaxes is the largest and most complete solution for calculating gains and income from Bitcoin related transactions. For years, our users have been entering their trading and spending information into BitcoinTaxes in order to work out their capital gains to enter into their tax forms. Users can also enter their mining activity and have the income amount calculated ready to enter as part of their taxable income.

For tax professionals, we can help calculate some of these more complicated scenarios, since digital currency exchanges are not regulated, do not produce 1099s, and are not required to calculates gains, cost basis or tax. To make things worse, Bitcoins can be bought on one exchange then traded on another, splitting the cost-basis lots. Alt-coins can be purchased and create a tax event based on a coin's daily value. Even spending Bitcoins is a tax event and potential gains might be realized.

BitcoinTaxes can be used to:

  • Enter or import your client's trading history from various Bitcoin exchanges
  • Enter any income from Bitcoin payment processors, such as BitPay and Coinbase
  • Enter any spending, gifts or donations
  • Calculate the capital gains for these transactions
  • Calculate any mining income using daily coin prices
  • Download an 8949 attachable statement or printable 8949 PDF

Directory of Tax Professionals

We often have requests for recommendations of tax professionals and forward on requests for advice or other tax services to qualified professionals.

As a registered tax professional, you will receive forwarded tax advice requests from our users in your area or specialty, where known, as well as an entry in our tax professional directory.

If you would like to be featured in our directory of tax professionals or certified accountants, please contact us at or click the button below and send us a message.

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Prices & Features

Our business versions offer packages for Tax Professionals or Tax Firms that provides an agent with access to enter unlimited client's transactions for calculating capital gains and mining income. This can be used for unlimited clients over all previous tax years.

Tax Professionals / CPA

$149year

  • All available features:
  • - Unlimited transactions
  • - Calculate capital gains
  • - Bitcoin and over 2,000 alt-coins
  • - Capital Gains, Income and Donation report
  • - Print 8949, statement, or imports for TurboTax® and TaxACT®
  • Single agent access
  • All fileable tax years
  • Unlimited clients

Tax Firm

contact for pricing

  • All available features:
  • - Unlimited transactions
  • - Calculate capital gains
  • - Bitcoin and over 2,000 alt-coins
  • - Capital Gains, Income and Donation report
  • - Print 8949, statement, or imports for TurboTax® and TaxACT®
  • Multiple agents
  • All fileable tax years
  • Unlimited Linked accounts