randomm

How To Pick Crypto Tax Software?

If you interacted with crypto during 2024, a crypto tax software is a must-have tool for you to calculate your cryptocurrency gains and losses in this tax season.

Cryptocurrency exchanges are different than traditional stock brokers like Fidelity or JPMorgan. These brokers issue a consolidated Form 1099-B listing all your annual proceeds, cost basis and gains/losses from stock transactions. However, crypto exchanges like Coinbase & Gemini are not required to issue such tax forms for the 2024 tax year. Therefore, the burden of properly calculating gains and losses to be reported on the tax return falls on you.

(Note that crypto exchanges will be required to issue a Form 1099-DA starting the 2025 tax year)

How To Pick Crypto Tax Software?

If you interacted with crypto during 2024, a crypto tax software is a must-have tool for you to calculate your cryptocurrency gains and losses in this tax season.

Cryptocurrency exchanges are different than traditional stock brokers like Fidelity or JPMorgan. These brokers issue a consolidated Form 1099-B listing all your annual proceeds, cost basis and gains/losses from stock transactions. However, crypto exchanges like Coinbase & Gemini are not required to issue such tax forms for the 2024 tax year. Therefore, the burden of properly calculating gains and losses to be reported on the tax return falls on you.

(Note that crypto exchanges will be required to issue a Form 1099-DA starting the 2025 tax year)

https://www.forbes.com/sites/shehanchandrasekera/2025/03/16/how-to-pick-crypto-tax-software/