I just got into crypto last year so this is the first year I’m filling my taxes with crypto. I use Voyager as my exchange and I got my tax document from them and just looked at it today.
It’s a spreadsheet with buy/sells and I have to be honest (for tax purposes) I have no idea what to make of this. I’m pretty sure if I hand this to my tax guy, he’s going to look at my like I have 12 heads.
Does anyone have any recommendations for a converter? Software? Anything? I did some quick formulas on the document and if I do it buy vs sell I can get my net gains vs losses but I’m not even sure that’s how it’s supposed to be output for taxes.
I’ve also looked for anything that is quickly available and turbo tax seems to be the go-to but I don’t want to use them for my taxes since I have someone who’s been doing my taxes for years.
I also really don’t want to spend several hours writing formulas for this spreadsheet but if that’s what I have to do I will.
Thank you guys in advance.
6 thoughts on “Question about taxes”
I use koinly.
TurboTax should allow your to auto send the info. At least I was able to do that with my exchange. Took me seconds.
Yeah. I use turbo tax also. If you care about calculating diffent cost basis like HIFO, LOFO… You might want to consider cointracker or koinly, but depending on what you’re transactions look like, it may not be worth paying to use some other service.
Just move to Portugal
Hey, join portugal and your problems are gone
They have a partnership with Voyager. You’ll be able to have your info imported for your tax info. Plus, you can add other exchanges if you did any other trading outside of Voyager.