Left your crypto tax to the last minute? Here’s how to get it done in less than 24 hours.

You might be procrastinating, but the IRS sure ain’t wasting any time. They’ve made it clear that crypto taxes need to be filed alongside your annual tax return by the 18th of April 2022 - or penalties abound. If you haven’t yet started, you’re possibly thinking crypto tax is mission impossible. And you’re right - if you try and do it yourself that is. Instead, follow 5 steps to file your tax returns in 1 day only. 

If you invested in crypto in 2021, regardless of how large your gains or losses are, you still need to report your crypto investments to the IRS, and fast. You’ve got until the 18th of April 2022 to calculate, report and file your crypto taxes alongside your annual tax return.

The bad news? Calculating crypto tax isn’t easy if you’ve got a lot of transactions. Worse yet, the IRS expects you to report every sale, trade or spend of crypto you’ve made throughout the entire year, as well as any income from the likes of airdrops, staking and mining. 

To calculate your crypto taxes, you’ll need to:

  • Calculate your cost basis or the fair market value (FMV) of any crypto in USD on the day you received it.
  • Identify each taxable transaction.
  • Identify which tax would apply to each taxable transaction (Income Tax or Capital Gains Tax).
  • Calculate your capital gains and losses from each disposal of crypto, including separating sho