What is the difference between Capital Gains Report, and the Closing Positions Report?
When you look at the Reports and Export tab, you will notice a few different sections.
The top section is the Capital Gains Report, which is the most important piece for your taxes. This is where you can download the current years capital gains report. This report contains the taxable trades that you made in the current tax year.
Another section on that tab is the Closing Positions Report. This section shows all of the crypto you still owned at the end of the tax year, and if you would have had a gain or loss on that crypto if you would have sold it right at the end of the year. These are hypothetical gains/losses and therefore are not a taxable event. The closing positions will automatically be entered in to the next tax years Opening tab for you.
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Reports & Exports Tab
The Reports & Exports Tab is where the summary of your calculated data can be found. This includes the following reports: Capital Gains Report: Sales of Capital Assets Form 8824 Report : Like-Kind Exchanges The Form 8824 Report will only show up for ...
Do you report my capital gains to the IRS?
No, we do NOT provide any information about you or your capital gains to the IRS.
What is the Safe Harbor report? How do I create safe harbor from my Closing?
Under IRS Rev. Proc 2024-28, we will be moving to wallet-by-wallet accounting for 2025. Before then, or your first activity in 2025, you need to make sure you have accurate records and balances across all your crypto wallets. Safe Harbor The IRS ...
How do I report tips and gifts?
Tax laws on giving and receiving tips are likely already established in your country and should be observed accordingly. You will similarly convert the coins into their equivalent currency value in order to report as income, if required. In the ...
Mapping symbol names if the price of a crypto is wrong or your capital gains/losses are way off
Sometimes you may see that the calculated price of a crypto you had added is completely wrong, or the capital gains and losses are just way off. This could be down to the symbol name for the crypto and the price lookups we have to perform. ...