Are there any specific tools or software available to help determine the cost basis for cryptocurrency transactions on a 1099-B?

1 answers

• Nov 25, 2021 · 3 years ago
  When it comes to determining the cost basis for cryptocurrency transactions on a 1099-B form, there are a few tools and software options that you can consider. One popular choice is CoinTracker, which offers a user-friendly interface and supports a wide range of cryptocurrencies. Another option is Koinly, which provides a comprehensive suite of features for tracking and calculating the cost basis of your cryptocurrency transactions. Additionally, some cryptocurrency exchanges, such as Binance, offer built-in tools for calculating the cost basis of your transactions. These tools can be a valuable resource for accurately reporting your cryptocurrency gains and losses on your tax return. Remember to consult with a tax professional for specific advice based on your individual circumstances.
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