We don't believe you should have to pay extra to calculate your crypto taxes. We are providing you with a free way to calculate your crypto taxes and generate a Form 8949 for the 2021 tax year. To offer this service to you free of charge Makara has partnered with Gemini and TaxBit, the leader in crypto tax and accounting software.
Part 1: Download your 2021 Makara transactions
- Log into your account on the Makara App.
- Tap the "profile" button in the top left corner.
- Select "Taxes" under the Account section.
- Tap the "download file" icon associated with 2021 and wait for the download to complete.
- Once the download is complete, tap the "share file" icon and select a method to send the file to yourself or your tax preparer.
Part 2: Setup your FREE TaxBit Basic Account
- Go to https://taxbit.com/ and select "Sign up"
- Select "Create Account" and enter your details as prompted.
- After you create your TaxBit account navigate to "Upgrade Plan" (the large blue button at the bottom of the left-hand menu on every page). Select "Basic" and then enter "makara" as the promo code when prompted
Part 3: Import your Makara CSV into TaxBit and download Form 8949
- Once you are signed into your TaxBit account go to "Add Transactions" and select "Import from CSV"
- Select "Upload a generic CSV" and import your Makara 2021 CSV file.
- Download your free Form 8949 by navigating to the "Taxes" section on the left-hand sidebar. Access your form under "2021 Tax Forms"
TaxBit may take up to 1 hour to fully process your Makara CSV file. You can check on the TaxBit dashboard anytime to see the status of your transactions. When downloading Form 8949 you will be asked if you want to "lock" the 2021 Tax Year. If you lock the tax year, you cannot add more tax events to your 8949.
If you have any questions or run into any issues send an email to email@example.com with the subject "2021 taxes" and we will help you with this process.