This article is for you if:
- You need to do your crypto taxes, but you don’t have many transactions
- You need to do your crypto taxes, but you don’t want to spend any money on a software
- You need to do your crypto taxes, but you’re indecisive on which tool to use yet
We are excited to announce that we have launched our FREE tax report package that allows users to generate a tax report of up to 25 transactions. The objective of the free tax package is to allow users that do not have a complex tax scenario to be able to report their taxes adequately at no charge. The idea is to reduce the barrier to entry to the cumbersome world of crypto taxes, allowing the users to understand how crypto taxes work as well as provide insights to other great free features within ACCOINTING.
Freemium Tax Package – How to Get Started
1. Setup your account and import your transactions
So to create your free tax report just make sure to create an account at http://www.accointing.com. Once you’re logged in, make sure you import all your transactions in order to review your entire portfolio performance. If you don’t know how to import your exchanges and wallets into Accointing, our tutorial videos inside of the platform will show you how. See the video below for further details:
2. Review your portfolio performance
After you have signed up and created your account, you’ll be taken to our overview page. Here you’ll be able to review the performance of your entire portfolio: gains and losses, holdings, portfolio allocation, portfolio distribution, and much more.
3. Reviewing your transactions classification
Once all your transactions have been imported, you can start classifying your transactions. You can classify your withdrawals and deposits in different categories. Inside of the platform, we tell you the meaning of each individual classification.
ACCOINTING Free Tax Report
Once you have classified all your transactions, you’ll be able to generate your tax report. Make sure you establish a tax strategy before hand as you’ll need to consider the following for the US:
- What should be the cost basis for airdrops?
- Reporting disposals from mining/staking
- Do you want to account for margin trades in your form 8949?
You’re all set! You’ve successfully created your first tax report. If you’re hodling, I guess that’s it and we hope you enjoy the rest of our features (get the free app here). If you’re a high frequency trader, and you feel happy with your FREE report, you’ll like to try our other packages in order to successfully finish reporting all your crypto transactions.
Make sure to reach out via our webchat if you have any questions or use our helpful Wiki or join our community in the links below to follow feature updates and announcements: