Conquer Tax Day with these 5 crypto tax prep software packages – TechCrunch

If you are among the the 16% of Americans who traded or traded crypto last year, you’re probably sweating your tax filing deadline (it’s Monday, April 18). And if you’re an NFT buff who changed your Twitter profile picture to a picture of a hexagonal, nonchalant monkey, chances are you’ll want some professional advice while applying. .

The US Internal Revenue Service is likely to scrutinize, and possibly even examine, those who have been dealing with cryptocurrencies this year, Alex Roytenberg, known on Twitter as @TheNFTCPAtold TechCrunch.

“Personally, I think the IRS has been waiting for a year of great wealth and income generation, and 2021 is definitely that year,” said Roytenberg.

He added that due to the lack of official guidance from US regulators on how to pay taxes on various crypto products, the process requires taxpayers to explain how existing laws aim to pay taxes. Traditional asset tuning can be applied to entirely new technologies.

Roytenberg, a certified public accountant, has been a tax accountant for nearly 20 years, working at Morgan Stanley, Goldman Sachs and PwC. Roytenberg first came into contact with the web3 space in 2018 after consulting several Coinbase employees and since then, has aimed to double down on expertise, co-authoring ““NFT Tax GuideAnd speaking at industry events including NFT.NYC.

While Roytenberg recommends that avid crypto traders seek private, professional tax advice to clear any gray areas, he also shared his thoughts with TechCrunch on some prep packages. Cryptocurrency tax could be useful for filers this year.

Here is a summary of some of the more popular platforms available to crypto tax preparers today.

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