The Clear Directory™ is proud to partner with Dollars and Sense Boookkeeping™

Bitcoin Taxes for Capital Gains and Income

Exchange imports. Fast calculations. Download and file.

Bitcoin, Ethereum, Ripple, Litecoin, Dash, and all digital currencies

Calculating capital gains/losses for Bitcoin isn’t always straightforward. Do you know the cost- basis of every coin you own? Are you tracking the profits and new basis when you spend or sell? Can you work out the best way to identify your trades to optimize your taxes?

How It Works

Simply import details of any Bitcoins or alt-coins you have bought or sold from one of our supported trading exchanges, add any spending or donations you might have made from your wallets, any mined coins or income you have received, and we’ll work your tax position for you.

You can compare using different cost-basis methodologies, including FIFO, LIFO, and average costing, as well as comparing like-kind treatment.

We’ll show your Capital Gains Report detailing every transaction’s cost basis, sale proceeds and gain.

An Income Report with all the calculated mined values.

A Donation Report with cost basis information for gifts and tips.

And your Closing Report with your net profit and loss and cost basis going forward.

Your Capital Gains are also ready to import directly into tax software, such as TurboTax® and TaxACT®, attach as a statement to your tax return or even print as a PDF.

Features

  • Imports trade histories from these, and more, exchanges:
    Coinbase, Gemini, Circle, Bitstamp, BTC-e, Bitfinex, Kraken, or CSV
  • Import spending from Coinbase, Core Wallets, Blockchain.Info and CSV
  • Import income from Coinbase, BitPay, CEX.IO, or CSV
  • Import mining income directly from addresses or CSV
  • Review and monitor individual addresses
  • Calculate capital gains
  • FIFO, LIFO, average costing, or specific identification
  • Optional like-kind treatment
  • Download attachable statement or IRS Form 8949 PDF, import into TurboTax** andTaxACT
  • Multi-year support
  • Major world currencies: USD, GBP, EUR, CAD, AUD, SEK, NOK, BRL, SGD, CNY,JPY, CHF, HKD, RUB, ILS, KRW
  • Bitcoin, Ethereum, Dogecoin, and other alt-coins
  • Reports balances and remaining cost basis
  • Calculate tax years for US, Canada, Australia, Germany, United Kingdom or starting on1st Jan.

Doing your cryptocurrency accounting vs hiring a professional

With the constant changes in tax law concerning cryptocurrency, you want the most up-to-date information on how your cryptocurrency holdings and transactions are being treated by the IRS. Hiring Dollars and Sense Bookkeeping to manage all of your Crypto accounting needs will help you stay on top of all of these changes.

You can alos get the Bitcoin accounting software for just $35 a year, but it can be very overwhelming. To really take advantage of the software you’ll need basic accounting knowledge and need to understand all the different reports. Also, not all wallets, exchanges, and mining companies connect to Bitcoin.tax, so you will need to know how to pull the income, buys/sells, transfers, exchanges, etc. from that software and then know how to use excel to properly import them into the software. Hiring Dollars and Sense Bookkeeping solves all of this for you, keeps you on top of all of the new rules and keeps your Bitcoin Accounting current.

*Only for cryptocurrency transactions. For additional services such as tax return preparation or monthly bookkeeping for your business, please contact us.

Cryptocurrency Accounting – $500 – $1000 per year

If you buy and hold or buy and use cryptocurrency with no mining, no investing in ICOs, and no investing in mining companies etc. This is the product for you!

Calculating capital gains/losses for Bitcoin isn’t always straightforward. Do you know the cost-basis of every coin you own? Are you tracking the profits and new basis when you spend or sell? Can you work out the best way to identify your trades to optimize your taxes?

Silver Package

Cryptocurrency Accounting (including mining and investing) $1,000 – $2,500 per year

If you use cryptocurrency, mine, invest in ICOs, and/or invest in mining companies etc. This is the product for you!

Calculating capital gains/losses for Bitcoin isn’t always straightforward. Do you know the cost-basis of every coin you own? Are you tracking the profits and new basis when you spend or sell? Can you work out the best way to identify your trades to optimize your taxes?

Let us do it for you.

Gold Service Package