TaxBitReviews of taxbit.com

After scouring the market for someone who can handle my crypto taxes this year, I went with TaxBit because they seem to have invested quite a bit in software and they seem to have some valuable partnerships and backers in this space. They have a long way to go to be able to handle the complexities of this market, particularly in the DeFi space. Admittedly, this is a difficult task for any crypto tax company but the reason for the 2 stars is because I was basically left on my own to figure out how the software actually works. You can readily get someone to chat with you and you can count on them being syrupy sweet but they are poorly trained. And there is no mechanism to escalate issues to anyone. The people at TaxBit who really know how things work are simply inaccessible. I could have even made due with better documentation but it is still inadequate. In the end, this was one of the most frustrating tax experiences of my life and I worked with TaxBit for over 3 months on this, going from one person to the next. I am hopeful they will make great strides this year but I'm not that optimistic since this space seems to be moving faster than TaxBit can keep up.

PayPal not an option to directly link, had to manually input everything. A lot of data was off or not correctly accounted for.

I haven’t received my form 8949 from TAXbit yet. I have uploaded/submitted all my coinbasePro trade transaction to TAXbit almost a week ago and still not received form 8949.

Incomplete product, but support is fantastic. There is no way to mark transfers in as mining rewards which was a complete showstopper for me, and generally found the interface to be poor and hard to navigate. CoinTracker is far superior and I've switched to that. That said, my experience with the TaxBit support team was great. Within a few minutes I was able to get my questions answered on what was and wasn't possible to do with the product. Too bad their product isn't more fully featured, especially for the price, because the support experience was outstanding.

The good: Customer support is great, you never have to wait long to talk to someone The bad: the platform has loads of bugs and issues with alt-coins and non-mainstream exchanges (even exchanges i would consider mainstream... like kucoin and bittrex... it has serious annoying issues with). They do have the fall back of manually creating and submitting CSV’s, but this often doesnt solve native taxbit alt coin issues. To give you an example of an alt coin issue: taxbit thinks SBD (steem backed dollar) is “solomon island dollar”... and there is no way to fix this on the customer side (even with a manual CSV). This is just one example of a mis-read alt by taxbit, but there are a handful of others (i found no less than 5, former top 100 alt coins, that i submitted to customer support that taxbit is confused on and that have yet to be resolved) Overall: If you are newer to crypto and don't have an extensive history with alt coins and have mostly stuck to the biggest name exchanges (coinbase, gemini, etc) then taxbit should work fine for you. If you are not new to crypto and have been around since 2019 or earlier with plenty of exposure to alts and exchanges.... you are going to run into A LOT of issues with taxbit bugs; the customer service reps will help but will inevitably send your issue off to the black hole known as the “escalation team”. On a good day the escalation team will avg about a 1 week turn around time on issues (but double check their work, i have received “fixed” issues that weren't at all and had to be sent right back...and then had to wait another week) i currently have 3-4 active tickets with the escalation team that are preventing me from doing my taxes (but i have had around 10 total issues that needed to be escalated this tax year).... all dealing with alts, exchanges, and taxbit miscalculating data. I Attempted to start my taxes in early February using taxbit; because of finding continual issues that require the escalation team to fix.... here i am 24 march and still no where close to finished

Need customer service buy phone. Would be helpful to expedite solving complicated issues, questions and having to rewrite questions repetitively that was previously asked and missed in feed. Thanks, Mika

So far it has not been working. I'm waiting for the tool to work as advertised. I used TaxBit last year and it was great. And they will work out issues and get things working eventually, so I do recommend it. But right now, having some issues getting going for 2021.

I purchased this with a link from BlockFi only to see that I cannot sync my account with it or Ledger live & I am very disappointed with that