How To File Your Taxes When Investing in Cryptocurrencies

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The Internal Revenue Service has extended the April 15th deadline to July 15, 2020 and ErisX would like to help our Members who have invested in cryptocurrencies. We provide necessary data and reports, and have established relationships with industry-leading firms to help our Members holding digital assets calculate their taxes appropriately. While we aim to assist our Members, all the material provided herein is intended to be for informational purposes only, and is not investment, legal, regulatory or tax advice — all are encouraged to seek their own counsel.

To begin the tax process, ErisX Members can download their “Movements” and “Spot Trades” reports for the year for all accounts via the Member Portal. Members can then sign up with any of our supported providers below to upload these files to calculate and review their tax obligations.*

CoinTracker

CoinTracker is one of the most trusted and secure cryptocurrency portfolio trackers and tax calculators. With more exchange and wallet integrations than any other solution as well as support for advanced users (DeFi, margin trading, derivatives, mining, staking, etc.), CoinTracker makes crypto taxes easy. Market-leading features such as tax loss harvesting, multiple cost basis methods, and error handling help save CoinTracker users millions of dollars each year. Partnerships with intuit turbotax, TaxAct, and other service providers means that self-filing takes minutes and the free CPA portal helps you share your CoinTracker profile with your tax professional — no more sending files over email! Best of all, tax documents are free for users with under 200 transactions per year and inexpensive for users with millions of transactions.

CryptoTrader.Tax

CryptoTrader.Tax is a market leading cryptocurrency tax reporting platform. Today, tens of thousands of cryptocurrency investors and enthusiasts use the platform to automate all of their necessary tax reporting. CryptoTrader.Tax has partnered up with leading cryptocurrency exchanges and companies like intuit turbotax to enable seamless tax reporting for the industry. CryptoTrader.Tax is completely free to use. Import all of your cryptocurrency trades, income, mined coins, and other crypto transactions for free. Only pay when you want to download your tax reports. Included in your report is IRS Form 8949, short term & long term gains/losses, crypto income reports, as well as a complete audit trail that details every single tax calculation for your records. CryptoTrader.Tax offers a live customer support team that is happy to answer your crypto tax questions at a moments notice.

LukkaTax

LukkaTax is crypto tax software built to save you money and is now free — only pay if you want the detailed reports. Brought to you by Lukka, the company building solutions for the largest crypto businesses in the world. LukkaTax supports crypto-crypto, margin/shorting, mining income transactions, and it integrates with all major exchanges and wallets. If you plan on saying “YES” to the very first question on Schedule 1 of IRS Form 1040: “At any time during 2019, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency” then get started with LukkaTax for FREE and only pay if you need the reports. Terms and Conditions apply.

*ErisX does not endorse any of the above companies. Links and company descriptions are provided for informational purposes only.

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