A company introduced a solution for reporting crypto tax. A company named as CryptoTrader.Tax launched software that help to report tax. The software will help to import all the crypto data and create a report to submit to the relevant authority. Earlier there was no such facility.

According to the CEO of CryptoTrader.Tax, David Kemmerer said: “We’re seeing that thousands of tax professionals are now looking for software tools to help them automate crypto tax reporting for their clients. We are excited to launch our crypto tax professional suite to provide a much needed solution for these professionals.”

Answering the question related to Form 1040 Schedule 1, David Kemmerer said: “The new question on 1040 means that all tax preparers must now ask their clients whether they have any cryptocurrency related activities during the year. That also means all tax preparers must be ready to handle cryptocurrency taxation for their clients. We’re seeing that thousands of tax professionals are now looking for software tools to help them automate crypto tax reporting for their clients. We are excited to launch our crypto tax professional suite to provide a much needed solution for these professionals.”