H&R Block and CoinTracker have partnered to make filing your crypto taxes easy

Investing in cryptocurrency can be tricky — especially when it comes time to file your taxes. Luckily, H&R Block has teamed up with CoinTracker, so you can file easily and confidently.

Import your crypto transactions and H&R Block will do the rest

When you file with H&R Block Online, you can link your CoinTracker account and automatically import all your 2023 transactions.

Save time

No need to manually enter your transactions row by row. Whether you have 50 transactions or 5000, they’ll be imported in just a few clicks.

Improve accuracy

Avoid mistakes that can happen from cutting and pasting data, ensuring you report your crypto income accurately.

Simplify your filing

Your gains and losses are added automatically to the right place on your return, taking the stress out of figuring it out on your own.

Special offer for H&R Block clients

As an H&R Block client, you receive a 20% discount on your first year using CoinTracker. Visit the CoinTracker site for details.

Visit CoinTracker

Have questions? Check out our FAQs below. Plus, check out our post on cryptocurrency taxes.

Here’s how it works

  1. Start your return in H&R Block Online.
  2. Choose Direct Import once you get to the cryptocurrency import screen.
  3. Connect your CoinTracker account and import your transactions. If you’re new, you’ll need to create a CoinTracker account first.
  4. Compete and file your return within H&R Block.

To make the process even smoother, log into your CoinTracker app before you begin importing your data and purchase a valid CoinTracker plan.

Get started with your crypto taxes today

You can file your crypto taxes using H&R Block Premium Online or H&R Block Self-Employed Online.

  

CoinTracker & H&R Block Integration and Crypto FAQs

CoinTracker is a cryptocurrency portfolio assistant that allows users to track their crypto performance taxes and more. You can import your crypto transactions from most exchanges and then import that data into your H&R Block tax return.

Yes, we’ve made it easier for you! Previously, you would have to copy and paste each row from Form 8949 created by CoinTracker into H&R Block. This year, we’ve improved the experience. All the rows from Form 8949 will be automatically entered within H&R Block Online when you create and/or connect your CoinTracker account.

One at a time. After importing and reviewing your tax information from your CoinTracker account, make sure to log out of CoinTracker. Then, your spouse can log into their CoinTracker account and import their crypto data. Alternatively, if you prefer to be logged into both accounts simultaneously (to easily review transactions), login to the second CoinTracker account in a “New Incognito window.”

CoinTracker’s application lists all the transactions made. What’s imported to H&R Block are the purchase prices (cost basis lots) for those transactions. For example, if you purchased 1 BTC in 2020 for one amount and another 1 BTC in 2021 for another amount, then sold both 2 BTC in 2022 in a single sale transaction, CoinTracker’s application lists the sale of those 2 BTC as one transaction. Since the one transaction included two different purchase prices, two rows of data were imported.

You can collaborate with your tax pro in a couple of ways. Your tax pro can access your data and reconcile transactions on your behalf.
 
Follow the steps below to invite your tax pro.
1.       Log in to your CoinTracker account
2.       Click on your email in the upper right
3.       Click ‘Add tax professional’
4.       Click ‘Invite tax pro’
5.       Add your tax professional’s email and click ‘Invite’

Yes, you should file crypto taxes if you’ve lost money on crypto because you may be able to reduce your taxes by offsetting capital gains against the losses and potentially deducting the losses. This is called tax loss harvesting.

Your data will transfer seamlessly from your CoinTracker account onto all the necessary forms as part of your return completed through H&R Block. Some users with large transaction volumes will be prompted to attach a copy of their Form 8949, which you can get from CoinTracker.

This is a common question as it can be a bit confusing to know which situations apply.  When you file with H&R Block Online, we’ll ask you about your crypto usage to cover this question.
 
Select ‘Yes’ if you:
●        Exchanged digital assets for goods, services, or property
●        Exchanged or traded one digital asset for another digital asset
●        Sold digital assets
●        Received digital assets as payment
●        Received digital asset for free that doesn’t quality as a bona fide gift (Ex: airdrop)
●        Received digital assets for mining or staking
●        Received digital assets as a result of a hard fork
●        Transferred or distributed financial interests in digital assets
 
Select ‘No’ if you:
●        Only held digital assets (virtual currency, NFTs) in your wallet or account
●        Transferred digital assets between your own wallets or accounts
●        Purchased digital assets using real currency 
 

Similar to cryptocurrency, non-fungible tokens (NFTs) are units of data stored on a digital ledger called a blockchain. Unlike cryptocurrency where any unit can be swapped out for another without changing the value of the asset — NFTs are unique and therefore not interchangeable. In plain terms, NFTs are unique digital assets.

NFTs  can be used to represent digital files such as photos, videos, audio, etc. For example, Bored Ape Yacht Club is a popular collection of thousands of digital ape avatars with different facial features and characteristics.

NFTs are considered property and can be subject to both capital gains and income tax. The way NFTs are taxed will depend on if you are a creator (creating/ minting and selling NFTs) or an investor (buying/ selling NFTs).
 
The types of taxable events for creators include:
●        Minting/selling an NFT
●        Earning NFT royalties
 
The types of taxable events for an investor include:
●        Purchasing an NFT
●        Selling an NFT
 
See complete NFT tax guide from CoinTracker.