CoinTracker integrates with H&R Block to offer crypto tax preparation

cointelegraph.com:

Crypto tax software provider CoinTracker is integrating its software with H&R Block, a company that helps millions of customers prepare their income taxes across Canada, the United States and Australia. 

In an announcement seen by Cointelegraph, CoinTracker noted the partnership will allow American H&R Block customers to use CoinTracker and automatically fill in their Form 8949 regarding crypto trades. This form is submitted during tax season to report one’s capital gains and losses from investments.

Previously, users had to cut and paste crypto trade data into each form field on the H&R Block app, which could lead to mistakes. Under the new integration, H&R users can import their crypto transactions from “most” exchanges into their H&R Block tax returns. 

Good news for Crypto holders. Filing cryptotaxes has never been easier. File with H&R Block Online, connect to Cointracker and just click import. More intuitive. More accurate. Learn more about how crypto can impact your taxes: https://t.co/XYjzra3z5B pic.twitter.com/6gGXlyNyr0

H&R Block is an American tax preparation company founded in 1955. In 2020, H&R Block had around 20 million tax customers.

The two companies also made some additional upgrades for the 2023 tax season as a result of the integration, including the offer of free CoinTracker accounts to all H&R users who have fewer than 25 crypto trades, as well as certain discounts for other H&R users. 

In a statement, CoinTracker COO Vera Tzoneva said that the new integration should cut down on the hassle of paying crypto taxes, stating:

Related: Bitcoin-friendly Cash App integrates TaxBit amid tax-filing season

Tax season is seen by some as a confusing and complex time for some crypto traders. While legally defined