Binance Tax report - Please help

[Aseel]

May I ask if I have report less than $600 on Binance? I have sold a couple currencies but I don't think I made any profits. I'm new to this and I don't even know how to read the report. Things were very smooth with Robinhood and Coinbase but not Biannce! API tax key is not working, CSV file does not have the header as required by Turbotax, I tried Taxbit and this didnot work either. Both Binance and Turbotax support were not helpful and I'm late filing my taxes because of this $600 and Binance :( I would be so grateful for any help. 

Thank you! 

[DianeW777]

Yes, you must report any amount you receive for crypto transactions or trades (sales for tax purposes). You must determine the amount you received and then any cost you may have paid. These are treated like investment sales. Only the 'gain' is taxable to you. The guide below will help you to understand each type of transaction and how you need to account for it on your tax return.

• How do I report Bitcoin or other cryptocurrency as a capital gain?
• How is cryptocurrency like Bitcoin taxed?
• What is the difference between staking, crypto mining, and airdrops?
• Your Cryptocurrency Tax Guide

All of your transactions must be tracked so that when you must file your tax return each year you have what you need.

[Aseel]

Thanks. I was able to upload all my tax information to Turbotax. The only issue I have is with Binance tax information.

Turbotax is not accepting the CSV file because the headers look different, the API key method did not worked either. I tried entering the information manually but I don't understand Binances's headers. Tried to call your support center and the agent told me that he is not familiar with cryptocurrency. 

[ubermanti]

I just ran into a similar issue, will bookmark this space in the hopes that someone else figures it out if I can't.