TaxBitReviews of taxbit.com

Just wanted to throw my recommendation out there for TaxBit when it comes to consolidating crypto activity into TurboTax. The process couldn't have been easier. I was able to quickly and easily link the multiple exchanges used (following the usual login authorization processes, of course), sync transactions easily and export data in various formats, including TXF which was easily accepted by Turbo Tax. It was all done in minutes.

TaxBit's website is awesome but their tax services are unreliable. I'm still waiting on my 2021 trading information to be completed accurately by TaxBit. I have spent countless hours on the chat service attempting to get it addressed. I was told months ago that they had submitted a ticket to resolve the problem I have been patient but after months of waiting I am told to wait longer. The IRS doesn't care about my technical difficulties with TB system. I mentioned to a friend that who I suggested use their service that I was having issues he told me that he overpaid his taxes by 100% using their service. This is not an exaggeration. He had to apply for a refund from the IRS, which he still hasn't received months later. He said that his 2021 taxes have changed 3x since he submitted them but he can't send an amendment until he get the original over payment back. The portfolio tracking history TaxBit has on the opening login in page shows my all time account balance at 3x than it ever was!!!! The chat service agents are friendly but they have no technical knowledge to resolve duplicate transactions or missing information or import problems. You can't just delete your data and attempt to download it again to see if it populates accurately this time. The agents have to create another ticket for which they also can not tell you when the data will be deleted so you can start over. The agents always say that their team is working on it but they can not give a deadline or even a ballpark for resolving any problems. They can't say if it'll be days, weeks, or months. It seems like TaxBit hangs the customer service agents out there to be beaten up with no updates. There's a super easy solution to letting customers see where they are in the line up create a ticket desk so we can track it. This way there is no infinite waiting creating more stress and distrust. This is help desk 101. Also why in the world would they not have banner up upon log in stating that there is a problem or an email notification that something is wrong with how they are pulling transaction data from from exchanges. Who cares if you cover 500+ exchanges if the data isn't accurate? TB charges in advance for their services so I've already paid for 2021 taxes but they haven't completed them were almost in month 9 of 2022. I don't prepay my account why are they charging for services not even rendered??? Crypto is the Wild West right now and it hard to tell who is reliable and who is on the way out. TaxBit may get it together at some point but their prices are as high or higher than their competitors but IMO the service falls short.

Software doesn't work. I've wasted countless hour with their online support. Online support can't figure out why its not working either. For over a month now they keep saying that their engineers are looking into it. They refuse to provide a timeline or update. They don't seem to care that their software doesn't work and I have a tax deadline to file. AVOID AT ALL COSTS. You'll just end up wasting your time and money. UPDATE: Taxbit replied to my review asking for my support number so they could "escalate it. What a Joke. I've already talked to 5+ support reps there, escalated to managers, etc. I even let them know I would be writing a bad review if they did not actually fix the problems or provide a timeline but they never responded.

I am so disappointed with the Taxbit service. I have been trying to upload my transactions and remove flags since April-22. The customer support team is friendly but they seriously lack expertice. Their ability to solve issues is nonexistent and they basically just take notes and send it to the excalation team to solve which can take weeks. They lack the basic knowledge of the exchanges and how they operate. I was told by 2 team members and their supervisor Bella to "go back and look through the transactions history for Kucoin bot trades and punch it in. Missing cost basis flags appear in the system when you're missing acquisition data for a particular asset". I was basically told to go in and try to find out the cost for thousands of bot transactions worth pennies and punch them in when all I wanted was to find out how to fix these at once. Finally a day later I got an answer from Jerry that “ KuCoin does NOT include bot trades in their API or CSV.” I had tried to explain this to them at nauseum but no-one listened. Jerry finally told me how to add manual transactions covering all bot trades. Well I worked on this for a few days and everything was going smoothly until the system crashed and ignored all my buy orders. I have tried to contact the "excalation team" with no help. Customer support staff emailed me "I reached out to our Escalation Team in regards to you not being able to add those Buy transactions and there was a bug causing that error. You should be able to add those transactions now without an error. You can go to "Add Sources" > Add Single Transaction." Again, the buy orders were added already but the system started ignoring them suddenly. The missing cost flags reappeared despite me adding in the correct values days prior. I don't thing anyone listens. I was told this "bug" only is occurring in my account. That sounds very odd to me. The system was working for a few days but then started ignoring my buy orders and my account value is way off!!! Apparently the supervisor Bella cannot be reached via email anymore, which is unheard of. At this point I am just left to wait and hope for the best but again I have been waiting since April, and when they submit a ticket often it is weeks. Meanwhile the clock is ticking and I need to get my taxes in. If it is only my account why is it taking so long? Why am I paying extra for the highest level of support when I get none? I wish someone at Taxbit would solve this issue and reach out to me so I can move on and get my taxes done!

Still waiting on a response from the "escalation team". Six weeks, maybe seven at this point. A major crypto exchange sync is failing (transactions). Really glad it's not tax season in the US.

I've tried out a few "crypto tax services", and (IMHO) Taxbit comes out on top for a couple of reasons: 1. They seem to have the best integration / selection of exchange / wallet API support. 2. Their customer service is great; if you need help importing a CSV into your account, they can help you out with that. They're actively improving the product with NFT support and they're starting to build out more of a "portfolio" feature, which is cool. I'd give 'em a try!

Working with Taxbit has been a great experience. The team is professional, kind, and very responsive. They regularly provide updates on my requests. The entire team has been a joy to work with.

Best for linking with the big exchanges, connects with hardware wallets, works with the IRS to provide assurance. I used them for TY2021, and had no issues at all. Quick and easy import into TurboTax. Best of all --- it's free!