Formidium, a provider of third-party fund administration and back-office technology solutions, has launched Crypto Fund Tax, a full suite of tax services, including tax allocations, reporting, and filings for funds invested in digital assets.
Crypto Fund Tax is aimed at digital asset, hedge, or venture funds, that invest in cryptocurrency, DeFi, blockchain, mining, staking, NFTs, tokens, private equity, venture investments, and real estate in the digital assets space. Crypto Fund Tax provides comprehensive tax services across the entity’s entire lifecycle for US funds/entities and non-US funds/entities filing US returns.
Crypto Fund Tax uses Formidium’s proprietary technology, Seamless Digital, to connect with exchanges/wallets to fetch, clean, and sanitise transactional data, calculate capital gains/losses using various methods, and reconcile and process high volume of data, tax lot accounting,
