What is the best way to track cryptocurrency transactions with H&R Block?

3 answers

• Dec 15, 2021 · 3 years ago
  One of the best ways to track cryptocurrency transactions with H&R Block is to use their tax software specifically designed for crypto users. H&R Block offers a feature that allows you to import your transaction history from popular cryptocurrency exchanges and wallets. This makes it easy to track your transactions and calculate your gains or losses for tax purposes. Simply follow the instructions provided by H&R Block to import your transaction history and ensure accurate reporting.
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• Dec 15, 2021 · 3 years ago
  If you're not comfortable using H&R Block's tax software, another option is to manually track your cryptocurrency transactions using a spreadsheet or a dedicated crypto portfolio tracker. You can record each transaction, including the date, amount, and value at the time of the transaction. This method requires more effort and attention to detail, but it can be an effective way to track your crypto activities if you prefer a more hands-on approach.
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• Dec 15, 2021 · 3 years ago
  At BYDFi, we recommend using a third-party cryptocurrency tax software that integrates with H&R Block. These software solutions are specifically designed to handle the complexities of crypto taxation and provide accurate tracking and reporting. They often offer advanced features such as automatic import of transaction data, tax optimization strategies, and real-time portfolio tracking. By using a dedicated crypto tax software, you can streamline the process of tracking your cryptocurrency transactions and ensure compliance with tax regulations.
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