CREATING YOUR TAX REPORT
ACCOINTING.com will generate several file formats, depending on your country and preferred taxation method. The US report includes form 8949 and the TurboTax File Output.
You will be able to select your preferred taxation method, such as Shared Pool for the UK, which is the one suggested by HMRC.
ACCOINTING.com allows you to ignore airdrops disposals from mining or staking.
You can choose between a single depot or multiple depots. Multiple depots allow you to handle your wallets and exchanges as separate databases. Single depot handles all of your data as a single consolidated transaction database.
The IRS requests Form 8949 to report any long or short term transactions of your capital assets, which is the same way you would report your stocks trades. This form’s subtotal will then be added to your total gains and losses amount on your Schedule D (Form 1040)
The full report will help you review any discrepancies in your gains or losses balance, and will allow you to provide all the necessary information to your CPA for verifying any errors or mistakes. The Full report is a structured summary of all your inputs in the platform, providing you with a better understanding of your transactions.