Bao
January 23, 2025, 9:08am
1
Last year, I made 17 small crypto trades, totaling less than $300 with a net loss of $90. I went to H&R Block to file my taxes, and they charged me $470 for this. The agent, who seemed older, manually entered each transaction one by one, which took over an hour. He said the fee was because I had to pay per transaction.
Is this how it works? This feels way too expensive, especially for such a small amount of activity. What should I do about this?
Sage
January 23, 2025, 9:08am
2
I don’t think serious crypto traders are using H&R Block.
Rowan
January 23, 2025, 9:08am
3
Sage said :
I don’t think serious crypto traders are using H&R Block.
And they’re definitely paying way more than $470 to a proper CPA.
Sage
January 23, 2025, 9:08am
4
Rowan said :
Sage said :
I don’t think serious crypto traders are using H&R Block.
And they’re definitely paying way more than $470 to a proper CPA.
True. But for a simple W-2 and a few crypto trades, $470 isn’t that unusual.
Jules
January 23, 2025, 9:08am
6
Rowan said :
Sage said :
I don’t think serious crypto traders are using H&R Block.
And they’re definitely paying way more than $470 to a proper CPA.
I trade a lot, and TurboTax was pretty easy for me.
Rowan
January 23, 2025, 9:09am
7
@Jules
Are you sure your return is accurate though?
Jules
January 23, 2025, 9:09am
8
Rowan said :
@Jules
Are you sure your return is accurate though?
Why wouldn’t it be? I’ve used TurboTax for years without issues.
Oli
January 23, 2025, 9:09am
9
Rowan said :
@Jules
Are you sure your return is accurate though?
Honestly, software like that probably makes fewer mistakes than people.
frank
January 23, 2025, 9:09am
10
Oli said :
Rowan said :
@Jules
Are you sure your return is accurate though?
Honestly, software like that probably makes fewer mistakes than people.
The software is great, but it’s still human-made and used by non-professionals. I wouldn’t trust it for more complex cases.
Whitney
January 23, 2025, 9:09am
11
I won’t handle crypto for my clients unless they provide a summary. Tracking each transaction is too much work.
Dakota
January 23, 2025, 9:09am
12
Whitney said :
I won’t handle crypto for my clients unless they provide a summary. Tracking each transaction is too much work.
Same here. I tell them to use services that create a proper summary or I don’t do it.
Phoenix
January 23, 2025, 9:09am
13
Whitney said :
I won’t handle crypto for my clients unless they provide a summary. Tracking each transaction is too much work.
Try Koinly. It works for aggregating data from different wallets and exchanges.
Conley
January 23, 2025, 9:09am
14
You could have just walked out and refused to pay before they filed your return.
Rowan
January 23, 2025, 9:09am
15
How did you even manage to lose money on crypto last year?
Bliss
January 23, 2025, 9:09am
16
Rowan said :
How did you even manage to lose money on crypto last year?
Probably bought some random meme coin.
Weston
January 23, 2025, 9:09am
17
That’s a lot to pay for such a simple return. You could’ve done it yourself with software like FreeTaxUSA.
Ren
January 23, 2025, 9:09am
18
$470 isn’t crazy for a return with a Schedule D, but you can definitely find someone better for that price.
Carmine
January 23, 2025, 9:09am
19
Not sure why people still use H&R Block.
Rowan
January 23, 2025, 9:09am
20
Seriously, next time, find a professional who knows what they’re doing.