You can learn more about reporting your Web3 transactions by reading our beginner’s guide. Of course, it’s always best to consult your tax professional before making any decisions.
Zenledger is an easy-to-use data aggregator software that gathers all the data from your crypto exchanges and wallet addresses, which you will need when you file your taxes. Once you have entered all your info into Zenledger’s software, it will automatically produce a report that you can then use to file your taxes.
After reviewing your reports and ensuring accuracy, the final step is to generate your tax reports and file them. For each tax year, Zenledger will automatically generate the following reports:
- IRS Form 8949
- Schedule 1
- Schedule D
- Fincen 114 // FBAR
- Tax-Loss Harvesting
- Grand Unified Accounting
- TurboTax Online Direct Import
These reports cover things like Additional Income and Adjustments to Income, Capital Gains and Losses, Sales, and other Dispositions.
Additionally, Zenledger’s Tax Loss Harvesting Tool provides you with a list of tax-saving opportunities to take advantage of.
With the reports generated from Zenledger, you can either take them to your own Tax Professional, or you can easily integrate the files with TurboTax if you prefer to do your own taxes.
Also, if you ever have any questions or are in need of assistance, Zenledger’s On-Demand Customer Service is available from 9 am to 9 pm EST, 7 days a week.