New feature by H&R Block, CoinTracker automatically adds taxes for crypto trades
Cryptocurrency tax software provider CoinTracker is working with H&R Block. This new partnership will prepare hundreds of income tax returns in Canada, the United States and Australia through integrations that allow cryptocurrency users to benefit from H&R Block’s tax preparation services while using Cointracker’s proprietary software. We hope to help millions of customers.
H&R Block & Coin Tracker
The new integration will make it easier for individuals who hold virtual currency to complete the virtual currency section of Form 8949. Form 8949 is a US reporting form intended for tracking investment capital gains and losses during tax returns.
“Last year alone, H&R Block saw an 85% increase in the number of clients reporting cryptocurrency transactions,” said Heather Watts, senior vice president of consumer tax products and support at H&R Block.
“This figure highlights the importance of people understanding how cryptocurrency gains and losses are taxed. File can be submitted.”
Declaration of crypto tax
The new partnership will eliminate the need for users to manually copy and paste crypto transactions from Form 8949 when filing taxes online. Instead, when a user’s account is connected to her CoinTracker, all lines of Form 8949 are automatically entered into his H&R Block Online.
In addition to simplifying the cryptocurrency tax filing process, this partnership will bring several benefits to both H&R Block and CoinTracker users. This includes his CoinTracker tax plan for free for users with less than 25 crypto transactions, 10% discount on CoinTracker tax plan for users with more than 25 crypto transactions, and 20% off H&R Block online products for CoinTracker users. Includes discount.
CoinTracker COO Vera Tzoneva said: “We remain committed to providing all cryptocurrency users with peace of mind and the tools they need. Partnering with H&R Block is a big step towards realizing this vision.”
