Intuit Chief Executive Officer Sasan Goodarzi said his prediction that crypto investors would encounter surprise obligations this tax season proved to be true, Bloomberg reported.
Many crypto investors “have piles of documents that include all of their trading,” Goodarzi told Bloomberg earlier this week. “Not being able to make heads or tails out of ‘What does this mean to my taxes’ — so it creates fear, uncertainty and doubt.”
Intuit, maker of TurboTax and other consumer finance software, reckoned that customers filing crypto transactions with their tax returns will more than quadruple this fiscal year, the report said. Goodarzi said the company will work to educate its customers about the tax implications of investing.