US crypto traders will have a new reporting tool this tax season.
Turbo Tax, the popular US tax filing platform, will add a “crypto section” to its software to allow investors to upload and report their crypto-related gains.
The new resource derives from a partnership between Turbo Tax and Coins Tax, behind the crypto tax calculator Bitcoin Taxes.
Bitcoin Taxes allows its users to import their crypto data (purchases and sales) from a number of crypto exchanges. And now it will let its users transfer that data into Turbo Tax.
The main goal: to help crypto traders save a substantial amount of time in tax preparation.
“We are working with Turbo Tax Online to make filing crypto taxes much easier. Until now, tax preparation software has provided limited cryptocurrency support. The new Cryptocurrency section in Turbo Tax Online with its import from Bitcoin.tax will save everyone a lot of time.” — Shared Coin Tax CEO Colin Mackie.
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