I’m attempting to file my taxes through TurboTax, and I’ve used a lot of various exchanges over the past year. Coinbase, Coinbase Pro, CDC, Robinhood (rip), totaling to over 300 different transactions.
I connected my accounts to Cointracker in order to get my tax forms, and now it’s telling me that for my number of transactions, the cost to get any tax information will be $179?
I may have made a lot of transactions, but I didn’t take any real profits this year. I was accumulating, hodling, and dcaing into various projects. Paying that much money just to FILE would be outrageous.
Does anyone have any advice or another way to go about this?
13 thoughts on “Do I really need to pay a lot of money to file my taxes properly?”
Turbotax connects to most all of those exchanges, and will take csv input if you edit it to fit their specs.
I think they charge $50 extra for crypto/stock preparation though.
If you use TurboTax, then yes you will pay. Online version is $90 I believe which would include the ability to file / track crypto sales. Turbo tax allows you to upload spreadsheets from numerous exchanges which makes it easy, so in theory there is no need to pay for a site to pull together your crypto sales. Taxbit.com is free this year for basic crypto transactions which you can then upload to TurboTax.
Don’t remind me haven’t even started, ill just pay and let an accountant have nightmares in my name
Yeah it’s normal, more things they gotta do the more work they have to do. I personally pay a tax person a nice chunk of cash to do my taxes.
You dont need to pay any money to file your taxes. Filing is free.
You can do it by hand and save money at the expense of significant time… Basically:
Pick two. (And accuracy should be one of them…)
You can do it yourself but you’ll have report every single transaction you’ve made on and off exchanges.
You can try tax.cdc — it’s a free service that worked well for me
tax.crypto.com is free. I used it today.
It’s a Crypto.com product.
Good thing I know how to file crypto taxes myself…oh wait no I don’t.🥺
You didn’t make millions last year? Lol what
I would pay the amount because tracking 300 transactions would be very time consuming
Think about the time you eventually will spend to do all these operations manually and give them a price.
Noboby is happy to spend money for paying taxes but services must be payed if they work well