CoinTracker, a cryptocurrency tax software provider, has partnered 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 allow 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 own cryptocurrencies can conveniently fill out the crypto section of Form 8949, a US reporting form designed to track investment capital gains and losses during tax filing.
“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 figure highlights how important it is for people to understand how crypto profits and losses are taxed. This partnership with CoinTracker creates a more streamlined process for our clients to import their crypto tax information accurately and quickly so they can file with confidence knowing that H&R Block is making sure our clients get every dollar they deserve, ensuring maximum recovery.’
Crypto tax filing
The new partnership eliminates the need for users to manually copy and paste crypto transactions from Form 8949 when filing taxes online. Instead, all Form 8949 lines will be automatically entered into H&R Block Online when the user’s account is linked to CoinTracker.
In addition to simplifying the crypto tax filing process, the partnership offers several benefits for both H&R Block and CoinTracker users. These include an additional CoinTracker tax plan for users with less 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 process of declaring crypto taxes is too complicated,” said Vera Tsoneva, COO at CoinTracker. “We remain focused on providing peace of mind and necessary tools for all crypto users. The partnership with H&R Block is an important step towards realizing this vision.”
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