
Show HN: CryptoTrader.Tax – Tax calculator for your crypto trading - wiidude32
https://www.cryptotrader.tax
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shanebrunette
If anybody is looking for an anonymous __free __alternative I created a crypto
tax calculator that supports 65+ exchanges

[https://cryptotaxcalculator.io](https://cryptotaxcalculator.io)

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jotakami
Still waiting for a tool that can correctly handle crypto derivatives, margin
interest, swap funding, etc...

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cryptotaxesnow
[https://tokentax.co](https://tokentax.co) has real crypto accountants
checking your uploads, working with you on missing cost basis, answering any
questions you might have on intercom. US, UK, Canada and other countries
supported automatically. And a TokenTax Crypto-specialist CPA can file your
returns in the US as well

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lostmsu
Not having a good descriptive About page is bad for your site. I can't imagine
a security savvy person to use tax software of unnamed vendor.

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atomical
Does this tool take multiple tax years into account for cost basis?

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wiidude32
The tool does, it will carry over the cost basis from previous years of
trading for calculating the next year's short/long term gains.

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atomical
Is the pricing based on trades per year or trades total among years?

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nodesocket
Looks great. Any support for Robinhood crypto trades coming?

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jallmann
For Robinhood crypto, there's form8949.com which is generally fantastic. It
can import from a number of crypto exchanges in addition to the traditional
brokers.

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peteretep
What are other British people doing? I’ve been selling an amount each year
that keeps me under capital gains threshold, which seems sensible?

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sanbor
Is there any rule of thumb to calculate taxes over crypto? Like "10% of your
profits". I'm sure if you make more than 500k a year you might have to pay
more taxes but I'm sure there is an average that covers 90% of traders.

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bonestamp2
> 10% of your profits

Calculating your profits (and loses) is what these sites generally do -- that
is usually the hard part, especially if you have a lot of transactions. Not to
mention, the way that you calculate that differs by jurisdiction. Loses are
just as important since they can have a significant benefit to the taxes you
owe. I use bitcoin.tax and then export the data for my accountant to fit into
the rest of my tax return.

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bonestamp2
*losses

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dkem1415
I used this this year. Saved my ass

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eruci
Does anyone pay taxes on crypto?

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jmharvey
Yes. I pay my taxes, and I suspect many other people do, too. Tax compliance
in the US is generally pretty high.

I also don't steal books from the library, even though I'm pretty sure I could
get away with it.

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hopler
Tax compliance is high when counterparty (employer or broker) reports income.
Tax compliance on cash transactions is lower.

I don't think stealing books from library at any kind of scale approaching the
value of tax evasion is so easy to get away with.

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joecool1029
> I don't think stealing books from library at any kind of scale approaching
> the value of tax evasion is so easy to get away with.

Sort of offtopic but ontopic to your comment: When bored and reading state
statutes I've discovered librarians in NJ are the only group of people aside
from law enforcement officers that are relieved of most liability when
arresting someone. (anyone else that does a wrongful arrest can be hit with
all sorts of charges and civil lawsuits)

Since then I've been raising awareness among the librarians of their ability
to beat the shit out of people stealing books.

So yes, you are correct. I would expect that it would be more difficult to get
away with at scale in the same sense it wouldn't be wise to steal office
supplies from the local police station.

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yownie
sources needed please.

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joecool1029
> sources needed please.

[https://law.justia.com/codes/new-
jersey/2018/title-2c/chapte...](https://law.justia.com/codes/new-
jersey/2018/title-2c/chapter-20/section-2c-20-14/)

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Hydraulix989
Did anyone actually make money with crypto in 2018?

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davidmurdoch
Many people sold BTC at $14k+ and then bought back in at 10k, 5k, etc. If they
didn't sell again for all of 2018 they'd only have "realized gains" and no
realized loses. So on paper they'd have only have gains, as the IRS doesn't
recognize the market value of your current holdings.

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gruez
Can't they do a wash sale to create losses? That's how tax loss harvesting
works.

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andrethegiant
Not an expert, but afaik you'd have to separate the buyback by 1 month from
the wash sale for it to be valid/legal. You'd be kicking yourself if the price
skyrocketed during that window.

Edit: [https://help.cointracker.io/taxes/us-taxes/do-wash-sales-
app...](https://help.cointracker.io/taxes/us-taxes/do-wash-sales-apply-to-
cryptocurrency)

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xur17
> There is some debate as to whether wash sales apply to cryptocurrency sales,
> however the IRS specifically states that wash sales only apply to stocks and
> securities. Since the IRS has also issued guidance that cryptocurrencies are
> property, CoinTracker does not calculate/apply wash sales.

