CryptoTrader.Tax - An Easy Way To Prepare Your Crypto Taxes

[dudeson55]

Hi everyone!

Over the past couple of months, I have been developing a tool help make the task of calculating capital gains and preparing taxes easier for anyone who has ever bought and sold crypto. Right now, it allows you to upload trades from any exchange, add your income, and export your gain/loss reports over multiple tax years.

I plan on adding many more features such as the ability to import your trade history through exchange APIs, but was hoping to get some feedback from you guys first. If you have the time, I would love to hear if you find anything that is unclear with the tool or if you run into any issues creating your report.

Website Link: https://www.cryptotrader.tax

[1713402795]

1713402795

[1713402795]

1713402795

[quanghoa7911]

I'm new to not understand much about how to interact in the community, expecting everyone to tell.
However, I would like to ask that this application be built for the benefit of crypto investors or vice versa? Does this app take into account the length of time before installing it?
Thank you!

[dudeson55]

Yes, my goal with building this is to help out crypto investors and day traders as much as possible when calculating their capital gains/losses for the tax season. The tool is also all hosted online, so there is no need to install anything!

[quanghoa7911]

So how much is charged per transaction or per cycle of time spent on the account? And how much is this fee calculated for the total dollar value of the transaction?
thanks!

[pinkflower]

That might become a very useful service in a regulated environment.

dudeson55, why dont you email US exchanges like Poloniex and Bittrex and try to create a partnership with them. Their American users will appreciate your service and find it cheaper than an accountant paid hourly, I'm sure.

[audaciousbeing]

Checking out the website, I see simplicity and straight forward process which shows the amount of time and effort that have been put into making it as such. But my question is that, we all know that when it comes to crypto currency, it cuts across countries and these countries have their own individual tax laws. Some countries that have made their position on crypto currency known have decided to regard it as Capital Gains Tax while some others have made it to be subjected to both Value Added Tax and Capital Gains Tax in which percentage to pay differs on the basis of country involved. My question is on the website, I can't find any where that says the computation you are seeing is for Country A or a place where you can select your country before going on with the calculations only to finish then realize that its not applicable. With that put in place I am sure that a new value has been added to crypto community.

[dudeson55]

Thank you for the kind words! Right now, the tool is made primarily made for US investors, however one of the reports that gets created gives the details (cost basis, proceeds, type of sale) on each asset sale. This way any user should be able to take these results and apply their countries individual rules when it comes time to file. Did that help answer your question?