CryptoTrader.Tax automates the cryptocurrency tax reporting process. We even partnered with TurboTax to make filing as easy as possible! By accessing this website we assume you accept these terms and conditions in full. Do not continue to use CryptoTrader.Tax’s website if you do not accept all of the terms and conditions stated on this page.
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What problems does CryptoTrader solve?
Because the IRS treats cryptocurrency as property for tax purposes, you are required to report your capital gains and losses from your crypto trades on your taxes. To properly report these transactions you need to report your original cost basis, the fair market value in USD of the coin at the time of the trade, and the amount of gain or loss you incurred for every cryptocurrency transaction you made.
This quickly becomes an impossible task to do by hand as the historical USD prices for all coins are not readily available.
CryptoTrader.Tax automates this entire process. You simply upload your cryptocurrency trades into the platform. The software will automatically crunch your capital gains and losses numbers and generate the necessary tax documents including the IRS form 8949.
For whom your Product/ Service is for?
- Cryptocurrency enthusiasts
- Tax professionals
About The Founders
All under the age of 25, the young founders David Kemmerer, Lucas Wyland, and Mitchell Cookson are looking to enable the world of cryptocurrency by making it more accessible for the average consumer. Lucas and Mitchell are both full stack developers with a depth of technical know how.
David rounds out the team with a background in growth marketing, SEO, and software sales. CryptoTrader.Tax was built out of necessity. After David, Lucas, and Mitchell got deep into the world of crypto trading themselves, they ran into the massive tax problem.
In 2017, the three were focused on building cryptocurrency trading bots that automatically carried out trading strategies for them. These bots would make hundreds of trades every single month. After realising that they actually needed to report taxes on every single one of these trades, the three frantically set out in search of a product that could handle this tax reporting process. However, they found nothing out there.
So the team shifted directions and set out to build a product that would automate the crypto tax reporting process for traders who were in similar situations as themselves. They built the product to solve their own problem, turns out a whole lot of other traders were encountering the exact same issues. Now CryptoTrader.Tax helps thousands of crypto traders accurately report their crypto taxes every year.
Founding Date: 2018-12-15
Industry: Web App
Number Of Employees: 11-50
Headquarters: Kansas City, MO, USA
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