If you and your spouse own crypto and file jointly, there are a few considerations when you sign up for TaxBit and add your data.
Normally, TaxBit will always recommend that spouses, other family members, and business partners keep your digital asset transactions separate, and don’t share or mix your assets. Sharing transaction histories can potentially cause cost basis tracking issues.
In order to determine if you and your spouse should have separate TaxBit accounts or a combined account, consider the following question:
Do you and your spouse trade or send crypto back and forth to each other?
- If the answer is yes, then you and your spouse can both use the same TaxBit account. You’ll need to link all exchanges and wallets that you both use, separately or together.
- Check out this link HERE for more information on getting multiples of the same exchange accounts linked to one TaxBit account.
- If the answer is no, then each of you will need a separate TaxBit account.
Please Note: Sending crypto to a spouse isn’t considered a disposal or gift the same way it would if crypto is sent to another party. This is the biggest factor when our CPA team recommends two people use the same TaxBit account.
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