Is my CPA wrong?

1

CryptoTrader.Tax

Honestly, if you make enough for multiple mining payouts per day (not withdrawals), it makes sense to use some sort of crypto tax software like cryptotrader.tax along with something like TurboTax if you have a W2 job or two that past year and crypto taxes. This solution did require me to pay for both TurboTax and cryptotrader.tax, but I was able to deduct the entire amount I would have owed along with my DoorDash taxes. An additional advantage of this crypto tax software is it can take in exchange data as well. It was much cheaper than Coinbase's suggestion of cointracker.io when including Nicehash by about $100. It must separate mining transactions and trading transactions, letting you choose the "Hobbyist" plan if you don't trade much.

#Fintech #Crypto #Cryptocurrencies 170 social mentions

2

CoinTracker

Honestly, if you make enough for multiple mining payouts per day (not withdrawals), it makes sense to use some sort of crypto tax software like cryptotrader.tax along with something like TurboTax if you have a W2 job or two that past year and crypto taxes. This solution did require me to pay for both TurboTax and cryptotrader.tax, but I was able to deduct the entire amount I would have owed along with my DoorDash taxes. An additional advantage of this crypto tax software is it can take in exchange data as well. It was much cheaper than Coinbase's suggestion of cointracker.io when including Nicehash by about $100. It must separate mining transactions and trading transactions, letting you choose the "Hobbyist" plan if you don't trade much.

#Fintech #Crypto #Cryptocurrencies 116 social mentions