In this video, I cover the calculation of cost basis for US cryptocurrency holders for IRS tax purposes. I cover the inputs, outputs, limitations (of TurboTax, which is my software of choice, you may find better or worse with your chosen tax filing service), and ultimate recommendation. Each situation will be different, but you will have to answer for yourself how much complexity you are willing to suffer through to save some money. Personally I wasn’t ready to put together hundreds of lines of a CSV file to find out it may not be accepted by TurboTax. I hope you find this content useful, and if you do, please like and subscribe!
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Medium Article I wrote about the same topic:
IRS FAQ on Crypto:
Tracker I’m using (not an endorsement, just what I picked, there are many others to choose from):
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Exchanges I use:
Kraken:
Receive $10 in Bitcoin when you trade $100 within 30 days at Gemini: gemini.com/share/4dlplyul
Receive $10 in Bitcoin when you trade $100 at Coinbase:
KuCoin:
Other crypto services:
Trade a minimum of $100 and get $25 in BTC free at Voyager:
Get $10 in BTC when you fund your account at BlockFi:
Get $25 USD in crypto with the Crypto.com debit card:
CashApp (referral link, get $5 once you transfer $5 in the app):