CoinTracker Partners With H&R Block to Streamline Crypto Tax Filing Process
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CoinTracker, a cryptocurrency tax filing software, has teamed up with US tax preparation firm H&R Block to make it easier for US customers to file their crypto taxes. With this integration, H&R Block customers can automatically import their crypto transactions from “most” exchanges into their H&R Block tax returns. This removes users’ need to enter their crypto trade data into each form field, which can be prone to errors. Prior to this integration, individuals involved in cryptocurrency trading who wanted to file their taxes were required to complete Form 8949 manually. This form reports capital gains and losses from investments for tax purposes. However, the process of crypto tax filing is seen as a confusing and complex time for some crypto traders.
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CoinTracker’s software is one of several crypto tax solutions that have been introduced in recent years. Other solutions include Koinly, Taxbit, CoinLedger, and TokenTax. Despite the availability of several crypto tax solutions, not all are integrated with tax preparation platforms such as H&R Block, TurboTax, and FreeTaxUSA.
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