CryptoTrader.Tax Has Now Integrated with TubroTax!!!

The cryptocurrency industry is gearing up to make the procedure of filing of taxes easier as CryptoTrader.Tax has integrated with the US tax software Intuit TuboTax.

As per David Kemmerer who is the co-founder of the company says that- Those who will file the taxes in the CryptoTrader will be automatically diverted to the TurboTax software and it is very easy as all it requires is importing the cryptocurrenct trades in the platform using the technology and the data will be updated automatically with the calculation of amount of the tax which is required to be paid.

Cryptocurrency has been classified as an ‘earned asset’ by Us’s Internal Revenue System. The filers will need to report the original value of coin which is followed by the market value of the coin in US dollar from the database.

Filers will also need to file the gain that they have incurred. It is believed by the experts that the lack of tax filing is also due to the ignorance of filing up the form as the instructions given by the committee is still unclear.

The Us-based crypto trader owe the property taxes on their crypto-coins but only if they will be traded.

CoinBase also added the resource for the customer to claim the cryptocurrency tax trade and has also provided the educational guide for filing the taxes. CoinBase has also integrated with the TurboTax and allows the users to import the transactions to the new platform automatically.

It is said that the TurboTax has partnered itself with the CoinsTax, LLC so that they can offer combined services for filing of income tax. The new service will be available for those who will purchase the 2018 premier edition and other versions.

Trading data will be exchanged from exchanges like Gemini, Poloniex and CoinBase.

Some of the Features TurboTax will include are:

```
  Tax History
```
```
  Expense estimator
```
```
  Donation tracker
```
```
  Mobile apps
```
```
  Investment assistance
```
```
  Tax payment option
```
```
  Stock plans
```

Thanks! That was all for you.

Do share your views in Comments and Upvote.

For more such interesting posts don't forget to Follow...!!!

Source of Images: Pexels.com and Pixabay

Source of Information: cryptonewsz.com

drakoscliff

Sort:

Trending

[-]

devkant79 (66) 5 years ago

Quite informative for people like me who are in utter need of such good quality write-ups.

Posted using Partiko Android

$0.00

1 vote

drakoscliff (55) 5 years ago

Yeah @devkant79 its good to grab knowledge😊😊 and push ourselves to be informative

steemitboard (66) 5 years ago

Congratulations @drakoscliff! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :

You published more than 30 posts. Your next target is to reach 40 posts.

_{You can view your badges on your Steem Board and compare to others on the Steem Ranking}
_{If you no longer want to receive notifications, reply to this comment with the word STOP}

To support your work, I also upvoted your post!

Do not miss the last post from @steemitboard:

The Steem blockchain survived its first virus plague!

You can upvote this notification to help all Steem users. Learn how here!

hunza-valley (38) 5 years ago

thanks for the great info about turbo tax...

sutharaashish (7) 5 years ago

True..