If you find this tool useful, donate to tz1aZsKPTRdkm9vaQhWv9Mz8ZbwxSHmf7t9T

The goal of Back to Basis is to provide accurate information based on current US tax policy. However, the use of this website is for educational purposes only, and does not constitute legal advice nor tax advice to the user, nor does the use of this website create an attorney-client relationship between the author and user. Please consult your own tax professional before relying on the information provided.

address

In/Out Timestamp Baker/Sender Unit Received Market Price @ Timestamp Cost Basis Unit Current Market Value Gain/Loss

This tool is a tax tool for cryptocurrency staking rewards!


Currently the tool only supports Tezos transactions, with future support planned for Ethereum 2.0 and Cardano ADA

The tool is a proof of concept project that will show you how to use the IRS policy relating to cryptocurrency to your advantage in your crypto dealings, and has two main functions: First, to help you find the taxable income from your staking rewards, and second, to help you find the true basis and return (profit or loss) from any sale of those rewards.

If you do not have a Tezos address, a default Tezos address is provided above as an example. The tax concepts will apply to all types of cryptocurrency transactions.

Detailed explanation of the tax concepts and how to use this tool

Instructions:

1. Back to Basis is not fully supported on mobile devices. For best results, use a desktop or laptop computer.

2. Select the transaction year you want to view

3. Enter your Tezos address in the search above

4. By default the tool will not include smart contract interactions, select the checkbox if you want them included

5. Click GET INFORMATION

6. The tool will pull all of the transaction history from your address, pair the transactions with the Tezos price at the time of the transaction. This process may take a few minutes.

7. Once your transaction information is displayed, select items that are not staking rewards and use the EXCLUDE tool to remove those transactions from the list. This will also show you the total income this address has generated.

8. Next, select transactions that you may sell soon and use the SELL tool to see the estimated gain or loss if you sold those items at the current market price.

9. When you are finished, you can export the table to a PDF, Excel, or CSV file. Only the selected transactions will be exported. Or, if no transactions are selected, the whole table will be exported.

If you find this tool helpful, you are welcome to donate to the default address in the search bar

This tool is a tax tool for cryptocurrency staking rewards!


Currently the tool only supports Tezos transactions, but future support is planned for Cardano ADA

The tool is a proof of concept project that will show you how to use the IRS policy relating to cryptocurrency to your advantage in your crypto dealings, and has two main functions: First, to help you find the taxable income from your staking rewards, and second, to help you find the true basis and return (profit or loss) from any sale of those rewards.

Detailed explanation of the tax concepts and how to use this tool

Instructions:

Back to Basis is not fully supported on mobile devices. For best results, use a desktop or laptop computer.