New feature from H&R Block, CoinTracker automatically adds taxes for crypto trades
CoinTracker, a cryptocurrency tax software provider, partners with H&R Block. The new partnership hopes to help millions of customers prepare their tax returns in Canada, the US and Australia through an integration that will enable crypto users to take advantage of H&R Block’s tax preparation services while using CoinTracker’s specialized software.
H&R Block & CoinTracker
Through the new integration, individuals who hold cryptocurrencies can easily fill out the crypto section of Form 8949, a US reporting form meant to track investment gains and losses during tax filings.
“Last year alone, H&R Block saw an 85% increase in the number of customers reporting crypto transactions,” said Heather Watts, Senior Vice President, Consumer Tax Products and Support at H&R Block.
“This number underscores the importance of people understanding how crypto gains and losses are taxed. This partnership with CoinTracker creates a more streamlined process for our customers to import their crypto tax information accurately and quickly, so they can file with confidence knowing that H&R Block provides so that our customers get every penny they deserve, and ensure maximum reimbursement.
Submission of crypto tax
The new partnership eliminates the need for users to manually copy and paste crypto transactions from Form 8949 when filing taxes online. Instead, all the lines from the Form 8949 will automatically be entered into H&R Block Online when the user’s account is connected to CoinTracker.
Aside from simplifying the process of filing crypto taxes, the partnership offers several benefits to both H&R Block and CoinTracker users. These include a free CoinTracker tax plan for users with fewer than 25 crypto transactions, a 10% discount on CoinTracker tax plans for users with more than 25 crypto transactions, and a 20% discount on H&R Block online products for CoinTracker users.
“The crypto tax filing process is far too complex,” said Vera Tzoneva, COO at CoinTracker. “We remain fixated on delivering security and the necessary tools for all crypto users. Partnering with H&R Block is a big step towards realizing this vision.”
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