Last Updated: August 25, 2020
We are excited to announce new pricing that enables beginner cryptocurrency users to automatically calculate their taxes for free.
Starting today, cryptocurrency users with up to 25 transactions in a given tax year can use CoinTracker to calculate cryptocurrency taxes free of charge. This enables these cryptocurrency users to seamlessly become and stay tax compliant as they transact and use cryptocurrency, all at zero cost.
In addition to the free tier, we are reducing and simplifying pricing for customers with more than 25 transactions. Our new pricing model consists of four simple tiers: Free, Hobbyist, Premium, and Unlimited. We’re making it easier for everyone — from crypto hobbyists to power crypto traders and enterprises — to be tax compliant.
More than 12 million Americans have interacted with cryptocurrency, but less than 100,000 are tax compliant. As usage and adoption of cryptocurrency continues to increase, we believe enabling consumers to stay tax-compliant is vital. In the US, the IRS has recently updated its guidance on cryptocurrency and has added an explicit question about cryptocurrency transactions on Form 1040 Schedule 1 to the 2019 tax form. The IRS and other tax agencies are taking steps to increase compliance; we predict that 2020 will see even more regulation for crypto, and failing to properly report could lead to serious penalty from the IRS.
Calculating taxes on cryptocurrency is complex, and consumers are faced with a significant burden as they transact with cryptocurrency. CoinTracker solves this by enabling users to synchronize their wallets, exchanges, DeFi services, and calculating their capital gains & income automatically and accurately.
We are excited to make CoinTracker accessible to more consumers, enable crypto users to stay tax compliant, and help legitimize and drive adoption of cryptocurrency.
Sign up for a CoinTracker account to track your cryptocurrency and calculate your taxes today.
CoinTracker helps you calculate your crypto taxes by seamlessly connecting to your exchanges and wallets. Questions or comments? Reach out to us @CoinTracker
Disclaimer: this post is informational only and is not intended as tax advice. For tax advice, please consult a tax professional.