TaxForm8949

Professional-grade software for accurate Form 8949 crypto tax reporting

44% of crypto holders feel overwhelmed by tax compliance requirements
8949 IRS form requiring detailed transaction reporting
12% of adults now own crypto assets requiring tax reporting

The Form 8949 Challenge

IRS ENFORCEMENT NOTICE: The IRS has issued final regulations requiring custodial brokers to report crypto transactions and reminds taxpayers they must report all digital asset income on their tax returns.

Complex Regulatory Requirements

Because no centralized institution records each cryptocurrency transaction on the blockchain, it is inherently more difficult for the IRS to track these transactions, making accurate self-reporting critical to avoid penalties and audits.

Inadequate Exchange Reporting

Except for a few brokers like Robinhood, CashApp, Etoro & PayPal, the vast majority of US cryptocurrency exchanges do not issue any 1099-Bs for taxpayers, leaving individuals to reconstruct their transaction history manually.

Overwhelming Complexity

44% of crypto holders stated they felt overwhelmed and didn't know of a suitable tool to help them easily file their crypto taxes in compliance with tax authority guidance, leading to non-compliance or costly professional services.

Evolving Regulatory Landscape

The fast-paced evolution of blockchain technologies and the emergence of new cryptocurrencies create ongoing challenges for regulators trying to keep up with tax enforcement, requiring taxpayers to stay current with changing requirements.

Multiple Transaction Types

Taxpayers must report various crypto activities including hard forks, exchanges for property or services, and trades between different digital assets, each with specific reporting requirements and tax implications.

Severe Penalties for Non-Compliance

Failing to accurately report income may result in accrued interest and penalties, with the IRS increasingly focused on digital asset compliance and enforcement actions.

Why Professional-Grade Software is Essential

Form 8949 requires precise documentation of every crypto transaction with exact dates, cost basis calculations, and gain/loss determinations. The IRS demands specific formatting and categorization that most exchanges don't provide. Manual preparation is error-prone and time-intensive, while existing consumer tools often lack the sophistication needed for complex trading scenarios.

Our Solution in Development

Enterprise-grade software designed specifically for accurate Form 8949 preparation

Advanced Cost Basis Calculations

Sophisticated algorithms handling FIFO, HIFO, LIFO and specific identification methods

IRS-Compliant Reporting

Automated Form 8949 generation with proper categorization and formatting

Professional Audit Support

Detailed transaction trails and documentation for tax professional review

Tax Loss Harvesting

Reduce tax liabilities at the end of the year with tax loss harvesting

Track All Transfers

Track all transfers and determine the correct cost basis from the original acquisition even when it was acquired on a different exchange

Early Access Registration

Join tax professionals and sophisticated investors preparing for the upcoming tax season

Development Nearing Completion

Our software is in final testing phases. Register now to receive priority access when we launch and detailed information about our beta testing program.

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This software is designed for tax compliance purposes and does not constitute tax advice.