Your Crypto Tax Software Generated a Report for You. But Is It Ready to File?
Importing your wallets and exchanges is only the beginning.
Missing transactions, incorrect cost basis, unmatched transfers, and classification errors can remain hidden, even when your crypto tax software shows no warnings.
Verify Before You File™ is a practical educational system designed to help crypto investors and tax professionals identify potential problems and determine what should happen before a crypto tax report is used for tax filing.
Created by Sharon Yip, CPA, a crypto investor since 2017 and crypto tax expert since 2018 with more than 25 years of public accounting and corporate tax experience.
Not Sure Whether Your Report Is Ready?
Start with CTI’s free 10-point summary checklist.
In just a few minutes, identify common warning signs involving account completeness, historical reconciliation, coin balances, cost basis, Forms 1099-DA, and advanced transactions.
Why a Completed Crypto Tax Report May Not be Reliable?
Crypto tax software can generate a polished looking report even when transactions are missing, transfers are misclassified, or cost basis is unsupported. It calculates results from the information it receives, but it cannot confirm that the information is complete or accurately reflects what happened.
Before relying on the report, can you explain material differences from Form 1099-DA, support your largest gains and losses, and confirm that deposits and withdrawals were treated correctly? If not, your report may look complete, but not ready to file.
Real Client Case Study
It Looked Ready to File, Until We Reviewed It
A real client’s crypto tax report appeared complete, but our review uncovered unmatched transfers treated as sales, unsupported cost basis, missing staking history, incorrectly excluded transactions, and significant differences from Form 1099-DA. See how errors hidden inside a polished report could have increased IRS audit risk or created taxes on phantom gains.
A Practical Way to Review Your Crypto Tax Report
Verify Before You File™ helps crypto investors and tax professionals recognize potential warning signs, evaluate whether those issues could affect a crypto tax report, and decide what should happen before the report is used for filing.
Have crypto tax related questions and want expert advice?
Built on Real Crypto Tax Experience
Sharon Yip, CPA, MBA, MST, has more than 25 years of tax experience, including tax leadership roles such as Senior Tax Manager at Deloitte and Corporate Tax Director at a Fortune 500 company.
She became a crypto investor in 2017 and has specialized in cryptocurrency taxation since 2018. She founded Cryptocurrency Tax Institute and Crypto Tax Advisors in 2018 and later co-founded Chainwise CPA, a boutique public accounting firm specializing in crypto tax and accounting services.
Through years of working with crypto investors, founders, businesses, and tax professionals, Sharon has developed practical methods for identifying reporting problems that software alone may not detect.
All educational resources published by Cryptocurrency Tax Institute are created or reviewed by Sharon.
Practical Insights Before You File
Crypto tax software and AI are becoming more capable. But better tools do not eliminate the need for complete data, sound judgment, and careful review.
Explore CTI Insights for practical education about crypto tax software, AI, account reconciliation, and the warning signs that may affect the reliability of a crypto tax report.
AI Can Explain Crypto Taxes. But Can It Verify Your Crypto Tax Report?
AI can help explain cryptocurrency taxation and investigate individual issues. Learn where its capabilities end and why human judgment still matters.
Why Crypto Tax Software Reports Can Be Wrong Even When You Imported Everything
Importing every wallet and exchange does not necessarily produce an accurate report. Learn why problems can remain even when your data appears complete.
Can You Trust Your Crypto Tax Report Before You File?
Generating a report is only the beginning. Learn what can go wrong and why the final numbers should be reviewed before filing.
Don’t Let an Unverified Report Become Part of Your Tax Return
Errors such as unmatched transfers, missing cost basis, and incorrect transaction classifications can increase IRS audit risk or create taxable gains that never actually occurred. Verify Before You File™ gives you a practical way to identify potential warning signs and determine what may need attention before you file.