One of the most important exchanges in the world, Coinbase, announced the implementation of a new tool that will help with the payment of taxes in the United States.
This is TurboTax, an option that from now on will allow customers of the exchange of cryptocurrencies to declare their taxes.
TurboTax consists of a tax presentation software offered by the Intuit Consumer Tax Group, which will allow to carry out calculations such as calculating profits and losses for 2018, which will then be used to determine how much to pay.
“Not all cryptocurrency transactions constitute a taxable event, so we have a lot of guidance to help you understand and select transactions that are taxable while you are in TurboTax Premier“, Intuit said.
This does not stop here, given that Coinbase will be integrated with CoinTracker, a bitcoin tax software administrator backed by Y Combinator, created by former Google employees.
Through a statement, the CEO of the company Chandan Lodha explained that “we can not have an open financial system if it is too difficult to use or is restricted to certain groups, so we have a simple mission: to make the cryptocurrency be easier to use, we started by addressing the cryptocurrency taxes”.
K. Tovar
Source: Coincrispy
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