Trying to report your 3Commas trades to the IRS?
If you have dozens, hundreds, or even thousands of trades for the year, it can be extremely tedious to report your cryptocurrency capital gains and income for the year.
In this guide, we’ll break down everything you need to know about the tax implications of your 3Commas trades as well as a simple, fast way to get your tax calculations done.
3Commas is a cryptocurrency trading platform designed to help traders build automated bots. The company was founded by Yuriy Sorokin, Egor Razumovskii and Mikhail Goryunov in 2017.
Currently, 3Commas integrates with more than 20 exchanges and serves more than 100,000 users. The platform offers features like set it and forget it automation and algorithms designed to mimic the trades of expert traders.
In the United States and most other countries, your cryptocurrency is subject to ordinary income and capital gains tax.
For more information, check out our guide to how cryptocurrency is taxed in the United States.
Because 3Commas is not considered a broker, the company does not report to the IRS. However, many of the exchanges that 3Commas integrates with send 1099 forms to users and the IRS.
At this time, 3Commas does not send tax reports to users. However, the company partners with CoinLedger to help users report their gains, losses, and income across their exchanges and wallets.
With CoinLedger, you can report your cryptocurrency taxes in 3 simple steps.
And that’s it! Once you’re done, you can file your tax return yourself, export it to a tax platform like TurboTax, or send it off to your accountant!
There’s no need to track your cryptocurrency trades on a spreadsheet. CoinLedger can help you calculate your tax bill in minutes.
More than 300,000 investors across the globe use CoinLedger to take the stress out of tax season.