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- Frequently Asked Questions
CryptoTrader is a very easy to use, US-centric, tool for generating reports you need to file your taxes.
This tool is optimised for generating your tax documents quickly. There is very good documentation available (even videos!) to help you navigate the tool and get your reports done. Based on our review, more complex use-cases might not be supported.
Import your trades
CryptoTrader has a very detailed guide on how to export to file all the trades for a given exchange that can be later uploaded to their website. The website has a very useful assistant that guides you through the process and there’s also YouTube videos that help clarify any question.
For trades done outside of an exchange, there is the possibility to: * import them manually in bulk following a detailed guide on how to create a CSV file that CryptoTrader can ingest, * add transactions manually in their website.
Report generation comes after having reviewed all trades and is a very simple process. It lets you choose between different accounting methods (e.g. FIFO, LIFO, HIFO, etc.) and generates IRS Form 8949 that is compliant with the IRS.
Additionally, it supports other type of reports like income from cryptocurrencies trading, end of year position and audit trail report. One of the best features if you are a TurboTax customer is that you can directly integrate.
One drawback in this regard is that it is very US centric.
Pricing is quite interesting compared to other more feature-rich tools because it is a one time payment per tax season and the tier depends on the amount of trades taken into account in the report.
It starts at $49 for up to 100 trades and it goes to $299 for unlimited trades. For the more economic tiers there is live chat support, for the more expensive there is priority support available.
Follow this referal link and use the promo code CRYPTOTAX10 to get a 10% discount on any of their plans.