FAQ

Data & Security

What data do I need to provide to sign up?

Setting an account up on TaxBit is simple. We just need your name, email and a password. To get started calculating your taxes you will need to link your account to an exchange/wallet.

Do you have access to my keys or crypto?

No. We only require read only access to your wallets and exchanges through their official API’s.

Do you sell my data?

No. We will never sell your data. See our full privacy policy here.

How do I delete my account?

You can delete your account and all your account data at any time from the settings page.

TaxBit Software

What countries do you support?

Currently we only support customers in the US. We will be expanding to other countries soon.

What currencies do you support?

We support all of the currencies listed on Coinbase, Coinbase Pro (GDAX), Binance, and Uphold

Click here for a full list of supported coins.

What exchanges do you support?

Coinbase, Coinbase Pro (GDAX), Binance, Uphold.

We are adding new exchanges every month please see our roadmap for more info.

Where do you get crypto prices from?

We pull our crypto pricing from a variety of exchange API’s.

Do I have to use TaxBit’s withholding feature?

No. Every TaxBit feature is completely optional.

Do I have to connect my wallet/exchange account?

Right now while we are still in Beta yes, however we will be providing an option to import your transactions by uploading a CSV.

Is there a TaxBit mobile app?

Not yet. We plan to release native mobile apps in the future. However currently our web app is fully responsive and works great on mobile devices.

Taxes

Is TaxBit a substitute for tax, audit, accounting, or legal advice?

TaxBit has very talented CPAs and tax attorneys on staff. However, each users tax situation is unique and personal. TaxBit’s service is not intended to substitute for tax, audit, accounting, or legal advice. For financial, tax, or legal advice please consult your own professional. TaxBit disclaims any responsibility for the accuracy or adequacy of any positions you take with regards to your tax returns.

What cost basis methods do you support?

TaxBits tax algorithms default to first-in-first-out (FIFO), which is the most common acceptable cost basis method seen by the IRS. In order to optimize your tax liability, TaxBit will also support last-in-first-out (LIFO), highest-in-first-out (HIFO), and average cost. Specific rules apply when it comes to selecting a cost basis method and when/how often you can change that method.

Supported Coins