This guide will help you file taxes using CoinTracker and H&R Block Desktop in a few steps.
1) Connect wallets and exchanges to export your complete transaction history
CoinTracker will automatically calculate your capital gains based on your connected exchanges and wallets transaction history so it’s important to upload your complete transaction history by connecting all exchanges and wallets.
To add your exchanges and wallets, visit the Add Wallets page. When you select your exchange or wallet from the Wallet Type drop-down, the right side will display instructions on how to connect that particular exchange or wallet with CoinTracker. Depending on the exchange or wallet selected, transactions can be imported through an API or imported by a CSV file.
If your exchange or wallet isn’t appearing on the dropdown, this means CoinTracker doesn’t have a direct integration yet, but your transaction history can still be imported here. It is highly recommended to import all transactions, even from exchanges and wallets without direct integrations.
2) Check your transaction history:
Before importing your capital gains data to H&R Block, it’s best to double-check that everything is as accurate as possible. CoinTracker will flag any transactions that need extra review with a reason why. You can see your transactions needing review for the tax year on the CoinTracker.
Once all transactions needing review have been addressed, you can navigate back to H&R Block Desktop to complete the filing process.
3) Entering cryptocurrency taxes on H&R Block Desktop
Navigate to the cryptocurrency section of H&R Block Desktop by clicking the Federal tab. Then, click Income, scroll down to the Investments section, and click Go To next to Sale of Cryptocurrency:
Click Import Crypto Investments:
- Select whose account you want to import (Taxpayer or Spouse), and then click Import:
- Click Sign in With CoinTracker. In the new browser window, sign in to your account using your CoinTracker username and password, and link your account.
- Once your account is linked, click Continue to complete the process:
- Close the browser window and return to H&R Block Desktop 2023. Then, click the Import button to finish importing your info:
- When you are finished importing your cryptocurrency transactions, review each one, verifying the accuracy and completeness of each entry.
- Once all your cryptocurrency transactions are entered, you’re all set, and H&R Block Desktop will help you get filed.
Taxable Income needs to be entered manually.
If you have taxable income from staking/mining/interest/etc., you will need to enter this on H&R Block Desktop.
- To find your total taxable income, refer to your CoinTracker Tax Center or box 8z from the Schedule 1 form in CoinTracker:
- On H&R Block Desktop, click the Federal tab. Then, click Income, scroll down to the Other Income section, and click Go To next to Income Not Reported Elsewhere:
- The description ("Miscellaneous crypto income") and total value for taxable income in CoinTracker should be entered in the Other Income section in H&R Block Desktop: