cryptoBASISSample report

Sample report · invented figures

cryptoBASIS Return Check and CoinTracking Audit

This is what your report looks like. Every figure, name and account here is invented. Your own report also comes as a PDF locked with the password you choose.

2 things to fix

We couldn't check 1 part of what you provided, so this is not a clean bill of health. See "What we couldn't check" below.

These figures are estimates only. They come from cryptoBASIS's own rules and calculations, applied to the files you provided, and they may be incomplete or inaccurate. The results are only as good as the information provided to the system: garbage in equals garbage out. This report is not tax, legal or accounting advice, and it does not prepare or amend any return. Do not file, amend or pay anything based on these estimates. Work with your tax professional to determine if changes may be required. Only you and your tax professional can make that decision.

Your tax return

To fix

Schedule D line 7: Net short-term capital gain or (loss)

This line doesn't match the lines it's worked out from.

  • On your return: 2,100
  • Worked out from the form's own lines: 2,000

The fix, in your tax software

  1. Check this line in your tax software. Fixing one line can also fix the lines that use it, so start with the first item on this list.

Tax estimate

Taxable gain or income this fix takes off: $100.00.

Your 2024 taxable income of $42,400.00, filing single, from your return.

$100.00 of short-term gain at 12% = $12.00.

Rates: IRS, Rev. Proc. 2023-34, sections 3.01 and 3.03.

Estimated change in federal income tax: up to about $12.00 less.

This is the most fixing it could change: only if the lines after it on your return used this figure. If they already used the right one, fixing this line changes no tax.

This is an estimate only. Read the note at the top of this report.

What we couldn't check

  • Your tax return, page 11: We couldn't read this page: it doesn't match a form we know.

What we checked

  • Form 1040 (2024): 13 checks, all passed
  • Schedule D (2024): 5 checks, 4 passed
  • Figures that should agree, across your forms and with your CoinTracking Tax Report: 3 compared, all agree

Your CoinTracking files

To fix

2 transfers between your own accounts are recorded as sales

2 transfers between your own wallets are recorded as sales, so CoinTracking reports a gain on coins you still own.

The fix, in CoinTracking

  1. Change each sale row below into a Withdrawal on the account the coins left.
  2. Check the matching Deposit exists on the account they arrived in, and add it if it's missing.
  3. Enter any network fee as the Withdrawal's fee.

The rows to change

DateCoinAmountAccountType
2024-03-02 14:05:11ETH1.5Example ExchangeTrade
2024-07-19 09:40:00BTC0.02Example WalletTrade

Tax estimate

Taxable gain or income this fix takes off: $1,830.00.

Your 2024 taxable income of $42,400.00, filing single, from your return.

$1,830.00 of short-term gain at 22% = $402.60.

Rates: IRS, Rev. Proc. 2023-34, sections 3.01 and 3.03.

Estimated change in federal income tax: about $402.60 less.

After the fix the coins keep their original cost, which can change the gain on later sales.

This is an estimate only. Read the note at the top of this report.

All of this can be resolved at once by reloading your CoinTracking account.

Reload with cryptoBASIS Load

What we checked

  • Your CoinTracking trade list: 412 rows
Check your own return and CoinTracking files