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A library to summarize crypto transactions for tax reporting

Project description

CryptoTax Summary Library

A Python library that summarizes Coinbase crypto transaction data for IRS tax reporting. It categorizes gains and losses as short-term or long-term and is tailored for U.S. tax filers with more than 4,000 transactions—exceeding TurboTax’s upload limits. This tool simplifies the calculation of short-term gains, long-term gains, total proceeds, and total cost basis.

Important Note

Ensure that you use the Gain/Loss Statement as the input file for accurate processing.

Disclaimer

Please note that you may still be required to mail your Gain/Loss statement to the IRS. I am not a tax professional; therefore, please consult a qualified tax expert for guidance on your tax filing and any additional questions.

Step 1: Install the Tool

Open the “Terminal” on Mac

pip install cryptotax_summary

Step 2: Run the Tool with Your GAINLOSSCSV File from Coinbase

Command-Line Interface Run the library directly from the command line with your CSV file:

cryptotax_summary Coinbase-2024-CB-TURBOTAX-GAINLOSS.csv

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