How Are You Handling Crypto Taxes This Year?

[GREY]

I’ve been using Koinly for a couple of years now — it's solid, but yeah, once you start bridging and using DEXes heavily, it still takes some manual cleanup. Especially if you’ve got stuff on Layer 2s or lesser-known chains.


I try to report everything — better safe than sorry. For wallets with tons of microtransactions, batching or exporting CSVs and doing bulk edits helps a bit, but it’s tedious.


Haven’t found a tax pro I fully trust with DeFi yet, but I’ve seen some good feedback on firms that specialize in crypto like ZenLedger’s CPA network or some folks in the TokenTax circle. Would definitely love to hear if anyone’s had a great experience with someone hands-on.


We’re all just trying to stay compliant without losing our minds — appreciate this convo!

I hear you on the tax pro front. It’s tough to find someone who really understands the nuances of DeFi. I’ve also come across ZenLedger and TokenTax, and while they get a lot of praise, I’m still on the lookout for someone with a more hands-on approach to specific DeFi situations. If I come across any solid recommendations, I’ll definitely share.


Staying compliant while navigating the crypto space definitely feels like a full-time job at times! Glad to see this conversation happening—hopefully, we’ll all find more streamlined solutions soon.

 

[GREY]

For wallets with tons of microtransactions, I try to consolidate them into fewer wallets where possible, and use batch transactions to minimize the reporting clutter. Still, managing thousands of tiny transfers can be a nightmare. One thing that might help is tracking tools that offer more granular reporting options (looking at you, TaxBit), which can sometimes make sorting out the mess a bit more manageable.


As for tax professionals, it’s rare to find one who truly understands the intricacies of crypto, but if you can find a CPA or tax advisor familiar with blockchain and DeFi, it's worth the investment. I’ve heard solid things about CryptoTaxAcademy for helping pros get crypto-savvy.

I totally agree on consolidating wallets to reduce the chaos, and batch transactions really do help streamline things. Tax reporting tools like TaxBit are lifesavers, but I’ve found that, even with those, the volume of small transfers can still be a pain to manage.


You're spot on about tax professionals—crypto-specific knowledge is rare but absolutely crucial. I’ve also heard good things about CryptoTaxAcademy, so that’s a solid recommendation. It really makes a difference when a CPA understands the nuances of crypto and DeFi. Have you tried using any other tax tools or resources that have made your life easier when dealing with crypto transactions?