I recently filed my taxes (USA), and was about to pay $300 for Cointracker.io’s tax report. Unfortunately I have “thousands” of transactions because of staking and interest wallets, in addition to Coinbase’s 4% back card. That really drives the price up for these services, even though I had only a few sales.
What I found when I exported a free CSV of the aggregated transactions without the capital gains: they do not differentiate between staking (income) and rebates like the Coinbase card, CDC card, etc. This means I was able to save $300 AND a few hundred more since the IRS generally treats it like cash back (to my knowledge). It took some time to make sure the formulas were correct, but with proper categorizing and filters, I was able to do it myself.
I know it’s a pain to do on your own, but taking some time to learn how to calculate capital gains (shoutout to the sumproduct formula) may save you some money on your taxes.
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