H&R Block Introduces CoinTracker Feature to Automatically Calculate Crypto Tax Liabilities

Time Stamp: March 9, 2023 11:03 PM
Source Node: 2511743

Tax season is here, and H&R Block is introducing a new feature to help cryptocurrency investors accurately calculate their crypto tax liabilities. The new feature, called CoinTracker, is designed to make the process of calculating crypto taxes easier and more accurate.

CoinTracker is an online platform that allows users to connect their cryptocurrency wallets and exchanges to automatically calculate their crypto tax liabilities. The platform uses an algorithm to analyze transactions and generate a detailed report of the user’s crypto tax liabilities. The report includes information on capital gains, losses, and other relevant information.

The platform also provides users with the ability to customize their tax reports. This allows users to adjust the tax rate, add additional information, and make other changes to their reports. Additionally, users can export their reports in a variety of formats, including PDF, CSV, and Excel.

The new feature is part of H&R Block’s larger effort to make tax filing easier for cryptocurrency investors. The company has also launched a new website dedicated to helping users understand the complexities of filing taxes on cryptocurrency investments. The website includes educational resources, such as articles, videos, and webinars, as well as a tax calculator that can help users estimate their crypto tax liabilities.

The introduction of CoinTracker is a welcome development for cryptocurrency investors who are looking for an easier way to calculate their crypto taxes. The platform provides users with an automated solution that eliminates the need for manual calculations and ensures accuracy in reporting. With the help of CoinTracker, cryptocurrency investors can now easily and accurately calculate their crypto tax liabilities.