ZenLedger and Abra partner to enable seamless cryptocurrency tax reporting
By Pavithra R
ZenLedger.io, a cryptocurrency tax analysis and blockchain analytics firm has announced partnering with Abra, a leading financial services and technology company, that operates an all-in-one, custodial cryptocurrency wallet and exchange.
With the addition of the virtual currency question to the top of Form 1040 for 2020 filings, cryptocurrency users are likely to need the assistance of crypto tax software to report their taxes correctly. The latest IRS guidance states that if crypto users mined, received, sold, or traded cryptocurrency in 2020, they must report the gains and losses of their transactions on tax returns.
“ZenLedger will help our customers manage their crypto taxes easily, addressing a key pain point for Abra customers today. We are excited to announce this partnership with the ZenLedger team,” says Ivan Galli, VP of Operations at Abra.
The collaboration will allow Abra customers to access crypto tax assistance through the ZenLedger platform enabling them to view their crypto trading history, understand their tax liabilities, and generate tax forms using their preferred accounting method.
“We are delighted to be Abra’s preferred crypto tax partner and to have the opportunity to service their 1M+ customers not only for their 1099-MISC needs but also for their complete crypto tax and accounting requirements,” says Dan Hannum, COO at ZenLedger.
ZenLedger is the leading cryptocurrency tax platform. The firm has been helping clients save money on their taxes and stay IRS compliant since 2018. Its mission is to provide clients with the most user-friendly tax and accounting software for cryptocurrency investments, trading, and fund operations. ZenLedger software aggregates user transaction information across multiple exchanges, wallets, and tokens in to a single dashboard, making it easy to calculate tax liability.
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