How to lodge your crypto tax return

Not sure how to lodge your cryptocurrency taxes? You’re not alone. As cryptocurrency is still a relatively new space, it’s not always easy to find tax professionals with expertise on the subject.

To help investors like you, we simplified how to lodge your crypto into an easy-to-follow process. By the time you finish reading, you’ll understand how to lodge all of your crypto transactions on your tax return. 

Once you’ve collected the relevant information, you have three different options for lodging your crypto taxes

Option #1: Manual lodging

You can lodge your taxes by yourself. However, it can be difficult and time-consuming to track the market value for each of your crypto assets at both the time of purchase and the time of sale.

Option #2: Use crypto tax software

With a tax software, you’re able to integrate your full transaction history from exchanges like CoinSpot, Binance, and Coinbase in minutes. You can then generate your necessary gains, losses, and income reports in AUD terms to use for your tax reporting.

Option #3: Tax software and accountant 

Instead of filing your taxes yourself, you can send your gains, losses, and income reports that you download from a software to your accountant. They can then lodge your tax return for you.

You can use Elite Tax Success to lodge your crypto tax returns. No personal information or credit card required! You only need to pay after using the service.

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