California-based digital currency exchange Coinbase has taken steps to simplify the crypto tax-filing process for its customers in the United States. In a January 24 blog post, the company announced the addition of resources to aid taxpayers who have engaged in any sale, use, or conversion of cryptocurrency assets that may trigger U.S. tax obligations.
To help customers determine whether their crypto tax status, Coinbase is providing an educational guide titled Crypto and Bitcoin Taxes in the US 2018 Edition, and additional assistance at its Tax Resource Center.
Coinbase also announced that TurboTax now has a cryptocurrency tax section in the Premier version of its TurboTax offering. That integration will enable Coinbase users to upload their Coinbase transactions and have any gains or losses calculated for them. The blog post also noted that the company’s users are eligible for a $20 TurboTax discount.
Finally, the company confirmed its partnership with CoinTracker, designed to offer customers a simple option for summarizing the tax year’s transaction activity, by aggregating data from every wallet and exchange that a customer used in 2018.