Crypto.com Simplifies Crypto Tax Reporting for Its Users
Payments and cryptocurrency platform Crypto.com has simplified cryptocurrency tax reporting for its users through a new partnership with three tax providers. On March 24, Crypto.com announced the collaboration with crypto tax calculator CoinTracker, crypto tax software platform TokenTax and crypto tax reporting firm CryptoTrader.Tax.
Now, Crypto.com’s users can import their historical crypto transactions from the platform into one of the aforementioned tax reporting platforms to generate necessary tax reports. Last October, the IRS issued its guidelines for crypto-based tax reporting, requiring roughly 150 million American taxpayers to answer the question whether they received, sold, sent or exchanged any virtual currency.