Table of contents
Automated Calculations
TaxBit automates the tedious process of calculating taxes on cryptocurrency transactions, ensuring accuracy and saving time.
User-Friendly Interface
The platform offers a clean and intuitive user interface, making it accessible for users who may not be familiar with tax software.
Integration Capabilities
TaxBit integrates with various cryptocurrency exchanges and wallets, making it easier to import transaction data seamlessly without manual entry.
Real-Time Reporting
Users receive real-time tax reporting, allowing them to understand their tax implications as they trade and hold cryptocurrencies.
Audit Support
TaxBit provides documentation and reports that can be useful during tax audits, helping users stay compliant with regulations.
We have collected here some useful links to help you find out if TaxBit is good.
Check the traffic stats of TaxBit on SimilarWeb. The key metrics to look for are: monthly visits, average visit duration, pages per visit, and traffic by country. Moreoever, check the traffic sources. For example "Direct" traffic is a good sign.
Check the "Domain Rating" of TaxBit on Ahrefs. The domain rating is a measure of the strength of a website's backlink profile on a scale from 0 to 100. It shows the strength of TaxBit's backlink profile compared to the other websites. In most cases a domain rating of 60+ is considered good and 70+ is considered very good.
Check the "Domain Authority" of TaxBit on MOZ. A website's domain authority (DA) is a search engine ranking score that predicts how well a website will rank on search engine result pages (SERPs). It is based on a 100-point logarithmic scale, with higher scores corresponding to a greater likelihood of ranking. This is another useful metric to check if a website is good.
The latest comments about TaxBit on Reddit. This can help you find out how popualr the product is and what people think about it.
If I use the information generated by TaxBit.com, then will I be audited by the IRS, and if so, which side the IRS will side with? Source: over 2 years ago
Hi there, thank you for visiting our sub! We unfortunately don't have the option to mail the tax forms, but they can be downloaded and printed out directly from the app. In addition, we don't generate tax forms for your Crypto account, but we do provide the CSV file with all of your transactions for the calendar year. To help with reporting your Crypto gains and losses on your taxes, we've partnered with TAXbit.... Source: over 2 years ago
Yes, you can own IMX in the US. Use cointracker.io or https://taxbit.com/ to track your transactions and taxes due for the US. Source: almost 3 years ago
That's ridiculous. You should have signed a contract before handing over your files. If you were going to end up filing your taxes by yourself even after hiring their services, don't you think you should have tried tax tools? That could have saved your time, money, and energy. There are a lot of tools out in the market like TaxBit and Cointelli and pretty much easy to use. I can't give any particular advice to you... Source: over 3 years ago
Hey! This is a great article that breaks down the Crypto Tax as a whole and the current laws in the US. TaxBit makes crypto taxes super easy and they have a free plan option for you to try it out first before downloading your tax forms. I used it this year for my taxes and saved myself so much time! Source: over 3 years ago
I've generated Form 8949 using https://taxbit.com/. BlockFi and Coinbase doesn't spit out tax forms. Source: over 3 years ago
So, I used taxbit.com to import it, changed all the "transfer in" to income. I rather pay more taxes than not. Source: over 3 years ago
I have the same problem because cost basis is * So... I went to taxbit.com and sync with Uphold. Then change all the Transfer In to Income. Source: over 3 years ago
I can get the API read only keys from Blockfolio but the tax software won't recognize it. Theres no blockfolio option only FTX.US and my login doesn't work there as its separate still. I got a csv file from taxbit.com but the tax software (TurboTax) gives me an error when I upload it every time. I changed the csv formatting costing me 3 hours of my life and it still gives me an error. Source: over 3 years ago
I used the bitcoin.tax format (I use taxbit.com) and the headers in the csv were:. Source: over 3 years ago
I recommend checking out some crytpo tax services. koinly.io, taxbit.com (this one is free if you only use exchanges that are a part of their free service), or cryptotrader.tax. the end amount and the number of transactions doesn't matter. it's the number of transactions that you might have to manually deal with that matters. Source: over 3 years ago
Yeah, I've since confirmed through other Reddit threads (no thanks to Intuit) that the Desktop Version does not have Crypto functionality. I'm looking into taxbit.com which is free as long as you use imports within their network. I'm not sure if you can import CSVs on the free plan. You might check to see if their network includes AnchorUSD. They generate an 8949 which you can then import into turbotax. I... Source: over 3 years ago
i'm learning my self, but here's what I would checkout: koinly.io or taxbit.com. Source: over 3 years ago
Somewhat related.... taxbit.com works with BlockFi if it can save you any trouble. No manual uploading required. Source: over 3 years ago
I heard of a site called https://taxbit.com. Source: almost 4 years ago
TaxBit has positioned itself as a prominent player in the burgeoning field of cryptocurrency tax software. Developed by a team comprising tax attorneys and certified public accountants, TaxBit is designed specifically to streamline the complexities associated with crypto taxation, a niche yet rapidly expanding sector within fintech. The platform has garnered attention for its comprehensive set of features, including full audit trails, optimized tax calculations, and capital loss claims, which have evidently contributed to its wide user adoption.
A significant public perception surrounding TaxBit is its integration prowess. As noted in recent user feedback, the platform is capable of interfacing with over 500 crypto exchanges, wallets, and DeFi platforms, which sets it apart as a versatile tool in the cryptocurrency tax domain. While it natively supports U.S. taxpayers, it claims to be usable by individuals subject to similar tax regimes worldwide. This global adaptability, despite its U.S.-centric origin, is a notable point of interest for the crypto community.
However, public sentiment is mixed regarding ease-of-usage and reliability. Some users express satisfaction with the platform's ability to automatically generate necessary tax forms like the IRS Form 8949, highlighting the time-saving potential and alignment with IRS standards. Specifically, offering downloadable CSV files for transaction data has been acknowledged as a practical approach for comprehensive record maintenance. At the same time, some concerns are raised regarding the compatibility of generated CSV files with other tax software, such as TurboTax, indicating a possible area for improvements in interoperability.
There's a palpable sense of reliance on TaxBit for trusted tax compliance as reflected in user discussions and queries. For instance, some users have vouched for the platform’s ability to handle complex transaction recording as well as its capability to assist in seeking IRS audits, suggesting a level of confidence in the product’s efficacy and support structure. Furthermore, the availability of a free plan option for taxpayers utilizing exchanges within TaxBit’s network underlines a commitment to accessible crypto tax services.
In juxtaposition to its competitors like Koinly, ZenLedger, and CoinTracker, TaxBit is appreciated for providing a robust, Big Four-grade self-service solution while maintaining ease of usability. Reviews often iterate that choosing between these platforms largely hinges on individual preferences and specific needs based on transactional volume and complexity, supporting TaxBit’s standing as a dependable option among cryptocurrency tax tools.
In summary, while TaxBit is recognized positively for its comprehensive feature set and extensive integration capability, feedback reflects a need for more seamless compatibility with other tax preparation software. As cryptocurrency taxation continues to evolve, platforms like TaxBit are undoubtedly vital, and ongoing enhancements in usability and interoperability will remain critical to sustaining positive public perception and solidifying market prominence.
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Is TaxBit good? This is an informative page that will help you find out. Moreover, you can review and discuss TaxBit here. The primary details have not been verified within the last quarter, and they might be outdated. If you think we are missing something, please use the means on this page to comment or suggest changes. All reviews and comments are highly encouranged and appreciated as they help everyone in the community to make an informed choice. Please always be kind and objective when evaluating a product and sharing your opinion.
