InfinityVoyager
Sat Jul 20 2024
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6 answers
1315
Can a crypto tax software auto-generate a completed form 8949?
As a finance professional, I'm curious about the capabilities of crypto tax software. Specifically, can a crypto tax software application automatically generate a completed IRS Form 8949, which is used to report transactions involving capital assets, including certain cryptocurrencies? This would be a significant time-saver for taxpayers who hold and trade cryptocurrencies, as it could reduce the burden of manually calculating and filling out the form. The software would need to accurately track and categorize transactions, as well as apply the correct tax treatment for each one. Would such a feature be a standard offering in most crypto tax software, or would it be an add-on or premium service?
