Suppose you bought and sold Bitcoin and a number of other cryptocurrencies and moved coins around between several wallets. If you’re American, what on earth do you do? Does H&R Block know bitcoins?
I wouldn't trust H&R Block with my taxes regardless of cryptocurrency. I hear they screw up all the time.
In a nutshell: You need to export your trading histories from all exchanges, then calculate the
basis and
adjusted basis of your investments. When you use USD to buy BTC, that forms the
basis of your BTC investment. Let's say you bought at $1000 -- that's your basis.
Now let's say you used that BTC to buy an altcoin. The altcoin price was 0.002 BTC and the BTC price at the time was $1500. That means that your
adjusted basis on your original BTC buy is $1500.
So, you had a taxable gain of $500/BTC. In this example, your new altcoin investment has a
basis of $3/coin. And so on.....
If you just mix all your coins together and don't keep separate, identifiable lots, then you need to calculate using FIFO or LIFO. More on that
here. Good luck!