Tools for calculating cost basis and/or capital gains?

[meep185]

I've made a little bit of money in bitcoin, and like a good American, I always pay my taxes!

I was looking for some tools or resources out there to help with calculating the cost basis and capital gains for tax reporting. I started making a spreadsheet to do this, but it becomes quite complicated when you have more than a few bitcoin transactions at different values. Does anyone know of anything out there that can help with this?

If nothing like this exists out there yet, I was thinking of trying to make one. I'm a web developer / software engineer. A capital gains calculator be helpful to people?

[1715684679]

1715684679

[ScripterRon]

I use a personal finance program that supports investment accounts.  I'm treating Bitcoin as a stock and each purchase represents additional shares of that stock.  I'm handling my mining shares as reinvested stock dividends (you are supposed to pay the IRS for this since mining shares represent income which you can offset with your mining expenses).  The program than tracks the cost basis for me (trading fees are handled as commissions).  When I sell, it keeps track of the lots used to fill the order.  Since you don't get to pick specific purchase transactions when you sell, I'm using the FIFO (first-in first-out) accounting method.