Overview

The Crypto Tax Calculator is a Generative Pre-trained Transformer (GPT) designed to simplify the process of calculating capital gains from cryptocurrency transactions.

Tasked with a complex operation that typically involves substantial manual work, this GPT streamlines the process, aiding users in dealing with the intricacies of their cryptocurrency taxes.

The way the tool functions is straightforward. Users are required to upload their transaction reports from respective cryptocurrency exchanges. Once the data is processed, the tool handles the arithmetic to derive the capital gains resulting from these transactions.

Moreover, this GPT takes user convenience a step further by generating a file compatible with TurboTax. This feature facilitates an effortless transition of the calculated data into a tax filing format, making this tool a comprehensive solution for managing cryptocurrency taxes.

Furthermore, the Crypto Tax Calculator is built on top of ChatGPT and does require users to sign up to ChatGPT Plus. This means users might need a subscription or access to this service to make full use of this tool.

The Crypto Tax Calculator is a clear demonstration of how AI can simplify complex, time-consuming tasks, and make them more accessible and manageable to the user.

Developed by Matthew Nienow, the tool utilizes the computational capabilities of GPTs to handle a niche yet significant challenge in the world of cryptocurrency.

In a nutshell, the Crypto Tax Calculator stands out as a GPT that transitions users from attaching transaction reports for capital gains calculations to filing their tax returns.