For those of us determined to file crypto taxes in the US this year, read on. This applies to those who file their own taxes or take their forms to their CPA. —
I’ve been dreading filling out forms as I knew my 200 transactions would be a nightmare. Plus, I know nothing of Capital Gains taxing. So, I tried my best to keep track on a spread sheet all required data (purchase history, cost basis, sell information, transfers, etc).
I then found out about both Koinly and Tax.Crypto.com. Koinly will let you see what you owe but will not generate the forms in the free version.
Tax.Crypto.com ended up being the winner here, I imported API for CoinBase and uploaded transactions for Gemini and Crypto.com. The most difficult part was correcting the transfers between exchanges!
After that was sorted out, the final numbers matched my manual tracking in excel, this also matched Koinly free.
I got Tax.Crypto.com to generate the 2 forms needed and handled those taxes. If you have the time to sort your transactions, this route may be easier than you think.
As always, DYOR, DD. I’m not giving tax advice. I’m explaining how I got the forms I needed to take care of mine.
Edit: This post was inspired by other posts on this sub about people not looking forward to doing the crypto taxes or because they don’t know how.