How To Do Your H&R Block Crypto Taxes
Do you use H&R Block to file your tax return with the IRS or the CRA? It's not always easy if you're reporting crypto on H&R Block. We've got the answers to all your questions in our H&R Block crypto taxes guide, including common questions about H&R Block crypto taxes, how to file H&R Block USA crypto taxes, and how to file H&R Block Canada crypto taxes.
Does H&R Block do crypto taxes?
In short, yes. With H&R Block Online Premium, you can manually enter your crypto disposals, but for most investors, this takes hours, which is why most people opt to use a combination of H&R Block and a crypto tax calculator.
How do I report crypto on H&R Block?
You can add all your crypto transactions manually to H&R Block, or you can use a crypto tax calculator to calculate the information you need to report on your tax return, including your cost base, proceeds, income, expenses, and more. It's really easy to do. In fact, we'll walk you through it.
How to file crypto taxes with H&R Block USA
Watch our video, or follow the step-by-step instructions below to find out how to file crypto taxes with H&R Block USA.
On Koinly
1. Sign up or log in to Koinly and sync all the wallets, exchanges, and blockchains you use via API or by uploading a CSV file.
2. Koinly will then calculate your crypto taxes for you, including your capital gains, losses, income, expenses, and more. You should check these totals to ensure you believe they are correct. If you think there are errors, get in touch with our amazing customer support team, who will be happy to help guide you through resolving any issues.
3. Go to the tax reports page. Upload your 1099-DA forms and download the IRS Report (Form 8949 & Schedule D).
On H&R Block
4. Sign up or log in to your H&R Block account. Please note that you'll need H&R Block Online Premium to file your crypto taxes, so select this plan when prompted. This plan costs $70 (+ additional per state). Don't worry, you don't need to pay until you've filed.
5. Fill out your personal data on the info tab as it relates to you. We'll only cover steps on how to file crypto taxes with H&R Block USA in these instructions, so fill out any other questions as they relate to your personal circumstances.
How to report short & long-term crypto capital gains on H&R Block
6. Go to income
7. Select + add another income type
8. Select cryptocurrency, then next
9. Select add cryptocurrency
10. Select enter manually
You'll then need to report your transactions as they're split in your Koinly IRS Report 8949 PDFs. You don't need to report every single transaction; instead, you can use the consolidated figures from your Koinly 8949 report. For example, if you have:
An 8949 reporting long-term gains from Coinbase, where cost basis was not reported to the IRS (box K)
An 8949 reporting short-term gains from Kraken, where cost basis was not reported to the IRS (box G)
An 8949 reporting short-term gains from non-custodial transactions not reported on a 1099-DA (box I)
An 8949 reporting short-term gains from non-custodial transactions not reported on a 1099-DA (box L)
Then you'd need to report the summarized figures from each 8949 in H&R Block four times, to ensure you're checking the relevant box in your reporting. You can then attach your complete 8949, with your complete statement of transactions, to your H&R Block tax return, to support your summarized reporting. For each section:
Enter the name of the exchange/wallet you're reporting for, for example, Coinbase or non-custodial wallet
Select start, then next
Select Form 8949
Select part 1 or 2 (short or long-term gains/losses)
Enter a general description, for example, short-term Coinbase gains
Select the relevant check box on your Koinly report (G/H/I or J/K/L)
For 2 (d) Total proceeds (sales price), copy and paste the proceeds figure from column d in your Koinly form
For 2 (e) Total cost or other basis, copy and paste the figure from column e in your Koinly form
If you have an adjustment, add it to 2 (g) Amount of adjustment
Repeat this as many times as necessary to report the consolidated figures in your Koinly 8949. Please note, you may need to upload your Form 8949 and Schedule D from Koinly to H&R Block, so you submit a complete record of your transactions as per IRS guidelines.
How to report crypto income on H&R Block
Before you report income in H&R Block, make sure you've downloaded the Complete Tax Report from Koinly. You'll need the income summary section of this report to add to H&R Block:
To report crypto income, go to the income section in H&R Block and select +add another income type
Select other less common income, then next
Select add other income
Select income not reported anywhere else (If you received a 1099-MISC, you should select the 1099-MISC option instead)
Select add
Add the figure from the income summary section of your Koinly Complete Tax Report next to the box titled Digital assets received as ordinary income and not reported elsewhere
Select next
How to report crypto deductions on H&R Block
If you have deductions you'd like to report on H&R Block related to crypto investments, go to the deductions tab. Select add deduction, then see more deductions.
There are a couple of deductions you may be able to make relating to your crypto investments, including:
Investment loan interest (Form 4952). You can find this under retirement and investments. You can then go to the expenses section of your Koinly Complete Tax Report and enter the figures relating to margin trade fees, margin interest fees, and costs. You should not include your transfer fees in this section.
You may also be able to deduct the cost of your tax preparation software (like your Koinly plan and H&R Block plan). Please note that, currently, only self-employed taxpayers can deduct these costs; salaried workers cannot. This is a new IRS rule - which we're hoping changes soon!
Complete the rest of your tax return as it relates to your personal circumstances. You're done!
How to file crypto taxes with H&R Block Canada
Watch our video, or follow the step-by-step instructions below to find out how to file crypto taxes with H&R Block USA.
On Koinly
1. Sign up or log in to Koinly and sync all the wallets, exchanges, and blockchains you use via API or by uploading a CSV file.
2. Koinly will then calculate your crypto taxes for you, including your capital gains, losses, income, expenses, and more. You should check these totals to ensure you believe they are correct. If you think there are errors, get in touch with our amazing customer support team, who will be happy to help guide you through resolving any issues.
3. Go to the tax reports page and download the Schedule 3 Report. If you have crypto income to report, you may also wish to download the Income Summary Report.
On H&R Block
Sign up or log in to your H&R Block account.
5. Fill out your personal data on the info tab as it relates to you. We'll only cover steps on how to file crypto taxes with H&R Block Canada in these instructions. You'll need to fill out the rest of your tax return as it pertains to your personal circumstances.
How to report crypto capital gains on H&R Block Canada
6. Under the prepare tab, scroll down and select investments, then continue.
7. Select the other investments as they relate to your personal circumstances, then select continue.
8. Under bought/sold securities or other property, check capital gains (or losses) in 2025 (Schedule 3), then select continue.
9. Under your capital property, select virtual currency transactions from the drop-down menu.
10. Now go to your Koinly Schedule 3 Report. Take the figure from row three, line two (proceeds of dispositions), and copy and paste it into the proceeds of disposition box in H&R Block.
11. Now take the figure from row three, line three in your Schedule 3 Report (adjusted cost base), and copy and paste it into the adjusted cost base box in H&R Block.
12. If you have expenses, take the figure from row three, line four (outlays and expenses), and paste it into the expenses box on H&R Block.
13. Finally, take the figure from row three, line 5 (gain), and paste it into the box next to "what's the amount of your 2025 reserve for this capital property?"
14. Fill out the other fields as they relate to your circumstances, then select continue.
How to report crypto Income on H&R Block Canada
15. Under the prepare tab, under other types of income, check the box next to other income earned or received in 2025.
16. Select continue.
17. On the other income page, in the box next to the question "how much income did you earn or receive in 2025 that hasn't been entered anywhere else in your return?" copy and paste the total income figure from your Koinly Tax Summary or Koinly Complete Tax Report.
18. Select continue.
19. Fill out the other fields as they relate to your personal circumstances and select continue. You're done!
FAQs
Do I need to report each disposal of crypto to the IRS?
Lots of investors worry about this when filing with H&R Block, but you don't need to. Provided you have the documentation in the form of your H&R Block Form 8949 (you can use your Koinly IRS Report Form 8949 for this), you don't need to report each individual disposal on H&R Block. You can report your short-term and long-term capital gains totals instead and submit your Form 8949 alongside it to ensure you're compliant with the IRS guidelines.
Do I need to report each disposal of crypto to the CRA?
No. The CRA is only interested in your net gain or loss for the financial year, which is available on your Schedule 3 Koinly Report. If you ever face an audit by the CRA, they may require more information. Koinly can help you provide this in the form of your Complete Tax Report, which has a breakdown of all your taxable transactions.
How to report Robinhood on H&R Block?
Robinhood crypto taxes are complicated. Because it isn't an exclusively crypto exchange, many crypto tax calculators aren't equipped to report all your Robinhood investments, and, because you can transfer crypto on and off the platform, your 1099 forms may be incorrect.
