COVID-19 Crypto Tax Filing Best Practices Automated Transaction Tool Launched

A new tool for cryptocurrency tax management has been launched, called ZenLedger. It streamlines every aspect of the process, and supports over 300 exchanges.

A new cryptocurrency investment tool has been launched for investors and CPAs looking for a streamlined tax solution. Called ZenLedger, it provides a faster way to produce tax forms and financial reports, trade smarter, and prevent IRS tax audits.

More information can be found at:

ZenLedger works with all major exchanges, crypto and fiat currencies. It’s designed to be fully IRS friendly, and can produce profit/loss statements for both the user and their CPA.

Whether clients are day traders, miners, or occasional investors, ZenLedger can make tax management for crypto easier. By automating the process, crypto investors can ensure they don’t overpay in taxes again.

Users can import their transactions and prepare the core documents they need. This includes Capital Gains Reports, Income Reports, Donation Reports and Closing Reports.

Tiers are available for all types of traders, so the system can be tailored for their needs. All the tiers include audit reports, CPA access, and unlimited exchanges. The tool is designed to make tax filing faster using smart tax strategies.

ZenLedger is covered in detail by Crypto Info Wire in a detailed new report. It discusses the benefits of investing in cryptocurrency, and how alternative assets are becoming more popular due to market volatility.

However the IRS treats cryptocurrency as property, which makes it similar to a home or equity investment. The sale or exchange of virtual currencies has tax consequences that could result in tax liability.

One of the biggest issues facing crypto investors is managing their tax liability. Dealing with the necessary paperwork and data entry requirements can be time consuming and confusing. ZenLedger makes each aspect of the crypto tax management process easier.

Crypto Info Wire states: “ZenLedger is constantly updating their platform. You can rest assured that your crypto tax data are handled correctly and that you’ll receive ongoing support and important IRS tax updates.”

Full details of the new tool can be found on the URL above.

Release ID: 88956339