Recap

Recap is a privacy-focused crypto tax software designed specifically for US investors. It simplifies the often complex world of cryptocurrency taxation, allowing users to save time, optimize their taxes, and ensure compliance with IRS regulations. With features such as real-time portfolio tracking, automated tax calculations, and seamless integrations with major exchanges, Recap is the go-to solution for anyone looking to manage their crypto investments and tax obligations efficiently.

Features of Recap

1. Comprehensive Crypto Portfolio Tracker

Recap provides a centralized platform for tracking your entire crypto portfolio. Users can view all their crypto accounts in one place, monitor historical transactions, and analyze the performance of their investments in real-time. This feature is essential for investors looking to understand their overall crypto worth and make informed decisions.

2. Automated Crypto Tax Calculations

With Recap, calculating your crypto taxes is a breeze. Users can import their trading history, and the software automatically calculates capital gains and income taxes. This feature ensures compliance with the latest IRS guidelines and generates necessary tax forms like IRS FORM 1040 and FORM 8949.

3. Secure Data Sharing

Recap allows users to securely share their tax data with accountants, making the filing process more efficient. This feature is particularly beneficial for those who prefer professional assistance with their tax returns.

4. Seamless Integrations

Recap supports a wide range of exchanges and wallets, including Coinbase, Kraken, and Binance. This integration allows for real-time data syncing, ensuring that users have the most accurate information at their fingertips.

5. User-Friendly Interface

The platform is designed with user experience in mind, making it easy for both beginners and experienced investors to navigate. The intuitive layout and straightforward processes help users manage their crypto taxes without confusion.

6. Educational Resources

Recap offers a variety of resources, including a blog and guides, to help users understand crypto tax regulations and strategies for minimizing their tax liabilities. This educational aspect empowers users to make informed decisions regarding their investments and taxes.

Frequently Asked Questions about Recap

How is cryptocurrency taxed?

In the US, most crypto gains are subject to Capital Gains Tax, but Income Tax may also apply. For more detailed information, refer to our US crypto tax guide.

What is capital gains tax?

Capital gains tax is a tax on the profit when you dispose of an asset, which includes selling, trading, or gifting a crypto asset.

When do I need to pay crypto tax in the US?

The deadline for filing and paying your taxes to the IRS is typically April 15, although holidays and weekends can affect the actual date.

Why do I need a crypto tax calculator?

Calculating your crypto taxes manually is possible, but a crypto tax calculator like Recap saves time and increases accuracy, making the process much more efficient.

Can I reduce how much crypto tax I owe?

With effective tax planning, you can optimize your crypto taxes. Check out our blog for strategies, but always consult a tax advisor for personalized advice.