TaxBitReviews of taxbit.com

TaxBit Tickets (oldest to newest): 67055, 71100, 73165, 83054, 89742 First of all, I want to say that I believe TaxBit will be an amazing Crypto Tax company, but I have been dealing with MISSING TAX BASIS (MTB) issues almost since the beginning of Syncing with my accounts. Maybe I have a fairly complex portfolio configured with TaxBit (3 Exchanges, 2 Wallets, 3 CSV files). I have worked with the Support Team (mostly Russ & Jerry) who have been amazing, and have tried hard to uncover my MTB problems. We have spent many hours on this issue. Due to the MCB issue, I missed the April 2022 filing date, and got a tax extension until Oct 2022, which is coming up. The Support team has tried to fix these issues, even wiping my account and re-adding all transactions. I still have 23 MTB transactions, and have no idea how to fix them. The last update says there is a software bug and I'll be notified when it is fixed; it is nothing that can be fixed by EDITing the transaction. I have tried to escalate this issue many times, to no avail, and have offered to even PAY MONEY to have someone at TaxBit figure out the discrepancies. Again, I believe in this application, but need to get these issues resolved. Surely I'm not the only one having this problem. If I can get my issue escalated and resolved, I will update this Review to 5 Stars. PLEASE HELP!!! Update: Thanks Taxbit for the reply. I will be patient for this MTB bug to be fixed. When it is,I'll update my review to 5 as I think the software will be great.

It's been great seeing Taxbit grow, but as they've grown they've lost the quality of support for users. I ended up trying out some other crypto tax solutions this year and was happy to find other smaller players with much better support.

I was not able to add Coinbase Pro, I followed the directions and put in key, phrase and secret. It came back invalid. I tried several times to no avail

Update 2: I've amended to 3 stars. If I didn't need NFT transaction support then it would be 4 stars. Bottom line: If you don't have any NFT transactions then I highly recommend TaxBit but the service is not useable if you do have any substantial amount of NFT transactions A little about me: US based active crypto trader (over 5000 transactions this year) and roughly 500-700 NFT transactions in 2020-2021. I've found it hard to find a tax site that allows me to tell "the entire story" correctly and was initially very optimistic about TaxBit. I've used 7 different tax sites as of 12/14/2021 and I'm still trying to find one that works in order to amend my 2020 tax return. The good about TaxBit: -Customer Support is active and fairly quick to respond and friendly -The APIs work well, their transaction update (sync) functionality is great, and they have the most API integrations of any site I've used. -They are probably the only site I've used that actually gets BlockFi transactions correct (which makes sense because they have a partnership with BlockFi) The bad: -No NFT integration I think at one point they did allow for manual NFT imports and they did tell me they were possible when I first signed up but after constructing an NFT CSV with all of my transactions they informed me that they no longer were supporting NFT CSVs. After an email with customer service management I was able to get a refund.

I appreciate Taxbit customer service greatly I appreciate the help through tax season I had heard through Twitter chatter that taxbit was actively working with the IRS, reporting against its customers which seems to be the opposite of its own mission. Why did we hear about this from Twitter rather than taxbit? I have a full brokerage account and tax atty, I am familiar with paying taxes and reporting. Thats not the problem. If taxbit has changed its mission to the customer and, instead, become yet another long arm of the IRS, rather than an appropriate and lawful service to the consumer, the customer needs to be made aware so the customer can make informed decisions. Thank you

My circumstances with tax has changed as I have a local accountant here now to take care of my situation, which has been a relief. I also understand our system is different to the US way, meaning in the 2020 information, 2021 transactions were included. Regardless of this, I would have changed to my new local accountant anyway. So with that, I do thank you for your efforts but will not be continuing with your service. Thanks Again. Take Care, Harvey Green.

Taxbit is doing better and they have picked up stars - but they really dropped the ball in finally fixing the transaction capture process in June of 2021 after 4-5 weeks of screwing around with that. They blamed it on the revised IRS 2020 Tax filing date in May of 2021. But I and others reported this problem Back on the May-The-Fourth-Be-With-You date. They took another 3 weeks before anyone in development even looked at the issue -- and then it was "magically" fixed by around the 10th of June. I feel honored to be considered a member of the Taxbit QA/Development team. Every day checking to see if my pending transactions could be applied or not, Pinging Support, asking for status. A company built on transaction capture and calculation and the problem persisted for 5 weeks. I fortunately processed all of my 2020 Tax Transactions by Jan of 2021. But can you imagine if you were trying to calculate your taxes for 2020 in May of 2021 and you tried to capture your transactions for the 2020 tax year in early May 2021? Or wait, some of you probably experienced that. Never Mind.

I still felt like I had to do a lot of work to get the information the way TaxBit works.