Which tax program is recommended for tracking gains and losses from digital currencies?

7 answers

• Nov 27, 2021 · 3 years ago
  One highly recommended tax program for tracking gains and losses from digital currencies is CoinTracking. CoinTracking is a comprehensive platform that allows you to import your transactions from various exchanges and wallets, and automatically calculates your gains and losses. It provides detailed reports and supports tax reporting in multiple countries. With its user-friendly interface and extensive features, CoinTracking is a popular choice among cryptocurrency investors for managing their tax obligations.
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• Nov 27, 2021 · 3 years ago
  If you're looking for a free tax program, you can consider using Bitcoin.Tax. Bitcoin.Tax offers a free version that allows you to import up to 100 transactions and generate basic tax reports. While it may not have all the advanced features of paid tax programs, it can still be a good option for individuals with a smaller number of transactions or those who want to get started with tracking their gains and losses without investing in a paid program.
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• Nov 27, 2021 · 3 years ago
  At BYDFi, we recommend using CoinTracking for tracking gains and losses from digital currencies. CoinTracking offers a comprehensive set of features and supports a wide range of exchanges and wallets. It provides accurate calculations and detailed reports, making it easier for users to manage their tax obligations. With its user-friendly interface and excellent customer support, CoinTracking is a reliable choice for cryptocurrency investors.
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• Nov 27, 2021 · 3 years ago
  Tracking gains and losses from digital currencies can be a complex task, but there are several tax programs available to help simplify the process. One popular option is TurboTax, which offers a cryptocurrency tax section that guides users through the reporting process. TurboTax integrates with popular exchanges and wallets, allowing you to import your transactions and automatically calculate your gains and losses. It also provides step-by-step instructions and explanations to ensure accurate reporting.
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• Nov 27, 2021 · 3 years ago
  Another tax program worth considering is CoinTracker. CoinTracker is designed specifically for cryptocurrency investors and offers features like automatic transaction importing, real-time portfolio tracking, and tax optimization. It supports a wide range of exchanges and wallets and provides detailed tax reports that can be easily exported for tax filing purposes. CoinTracker also offers a free version with limited features, making it accessible to users with different needs and budgets.
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• Nov 27, 2021 · 3 years ago
  For those who prefer a more hands-on approach, you can use spreadsheets or accounting software like Excel or QuickBooks to manually track your gains and losses from digital currencies. While this method requires more effort and attention to detail, it can be a cost-effective solution for individuals who are comfortable with managing their own financial records.
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• Nov 27, 2021 · 3 years ago
  When choosing a tax program for tracking gains and losses from digital currencies, it's important to consider factors such as ease of use, compatibility with your exchanges and wallets, and the level of support and guidance provided. Each program has its own strengths and weaknesses, so it's recommended to try out a few options and see which one works best for your specific needs.
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