Taxes made easy: Get free tax reports with Blockpit + a BEST Airdrop

Doing your taxes can be a complicated process. It’s time-consuming and can leave you feeling frustrated and confused. Keeping track of what is considered a taxable event under which circumstances is difficult enough without the uncertainties of often-changing legal frameworks. If you trade and invest in cryptocurrencies like Bitcoin, Ethereum, Dogecoin or even one of the Bitpanda Crypto Indices, there can be an added layer of complexity.

We’ve teamed up with Blockpit to help ease some of the stress that often comes along with tax season. Read on below to learn more about taxable events, the best way to track your crypto transactions, how you can easily generate, compliant tax reports with Blockpit - and how you can get free BEST! 

What you need to know about crypto and taxes

When it comes to investing in crypto and taxes, an important thing to keep in mind is that the regulatory framework for cryptocurrencies varies from country to country. Generally speaking, most countries consider buying and selling crypto, for example by selling your crypto for a fiat currency like EUR or USD, a taxable event, just like any other transaction involving a commodity. To know exactly what applies in your country and in your individual situation, we strongly recommend that you contact your personal tax advisor and read the excellent tax guides on the Blockpit website.

Keeping track of your crypto transactions

Regardless of where you live, keeping track of all the crypto you have bought and sold is considered a best practice to make sure you have an accurate record of all your transactions. Things become difficult when you are a trader with tens, hundreds or even thousands of transactions. One option for tracking your crypto is to create a spreadsheet and manually input each sale or purchase. You can also download a .csv file of your trade history on your personal Bitpanda profile and then enter those numbers into the spreadsheet. 

However, manually tracking all of your transactions can take up a lot of your time and leave room for error. This is why we partnered with Blockpit, a provider of an easy software solution that tracks and automatically calculates your tax liability and optimises your tax reporting, so that you can rest assured that your filing is correct.

Blockpit is the easiest way to track your crypto and generate tax reports

With Blockpit, you can monitor your transactions and generate tax reports in just a few clicks. All you need to do is sign up to Blockpit via Bitpanda and then sync your trading account with your Blockpit account via the API import function. Blockpit imports your transaction data and automatically classifies it in accordance with the law, giving you a real-time overview of your tax liabilities. When you’re ready, you can generate a tax report that can be filed along with the rest of your tax documents.

How to export a tax report on Blockpit

To get started with Blockpit via the Bitpanda App, go to the “History” section in your account settings and:

• in our mobile app: click the “Export” icon in the top right corner and then click “Sign up with Blockpit”;
• on the web: click the “Tax report by Blockpit” icon.

To get your investment tax report, sync your Bitpanda trading account with your Blockpit account via the API import function. When you’re ready to file your taxes, simply export your Blockpit tax report - and voilà!

Get tax reports for unlimited transactions and free BEST: Set up a Blockpit account through Bitpanda

Just in time for tax season, Blockpit and Bitpanda are offering you something special: If you sign up to Blockpit via Bitpanda, you can start creating free tax reports for unlimited Bitpanda transactions, even if you already registered during our previous Blockpit promotions. While Blockpit previously offered tax reports up to just 25 transactions, you can now generate tax reports that cover all your activity on Bitpanda. 

And that’s not all! Participate in the BEST Airdrop between 2nd and 23rd of May, 2022 to get between €5 and €200 in BEST. If you are new with Blockpit, your registration counts. If you already have a Blockpit account, all you need to do is to generate a tax report. 

BEST Airdrop on Bitpanda:

• For new Blockpit users: You must have registered on Blockpit via Bitpanda between 2nd and 23rd of May, 2022 and connected through their Bitpanda API; 
• For existing Blockpit users: You must have generated a tax report on Blockpit between 2nd and 23rd of May, 2022; 
• For all users: You must have traded on Bitpanda at least once in the last 6 months;
• You must reside in either Austria, Germany, Switzerland, Spain or France;
• You must have agreed to the terms and conditions of the airdrop.

You can create your Blockpit account when you follow this link to get your free tax report and to participate in the BEST Airdrop.

Please note: As tax issues involving cryptocurrencies can be complex and every country has its own legislation, we still advise you to contact your personal tax adviser for further information about your individual situation. You can find the terms and conditions of the BEST Airdrop powered by Blockpit here.

Disclaimer

This article does not constitute investment advice, nor is it an offer or invitation to purchase any digital assets.

This article is for general purposes of information only and no representation or warranty, either expressed or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of this article or opinions contained herein.

Investing carries risks. Make sure to conduct your own research before making any investment.