Ledgible's new transaction table provides advanced tools for digital asset categorization and improved reporting capabilities for institutions and enterprises needing tax information reporting for digital assets.
ATLANTA, Dec. 5, 2023 /PRNewswire/ -- Ledgible, leaders in digital asset tax and 1099 reporting, has launched an advanced transaction table, underscoring the industry's increased focus on digital asset tax reporting and providing streamlined digital asset reporting tools for CPAs, accountants, and tax professionals. Additionally, the team continues to develop industry-leading partnerships to support the needs of the industry and streamline the digital asset tax reporting process.
"At Ledgible, we are committed to building best-in-class tools to support the growing needs of institutions and enterprises for digital asset reporting requirements," Ledgible CEO Kell Canty said. "Our new transaction table delivers those tools and provides a simplified source for digital asset cost basis data."
The new transaction table provides new functionalities to users, like improved context around digital asset transactions and providing clear audit paths for organizations. Additionally, a new advanced categorization engine streamlines the process of working with large quantities of transactions in bulk. Finally, enhanced memorization functionality and cost basis assignment tools built into the transaction table enable users access to industry-leading reporting functionality, all within the Ledgible platform. These new features streamline the 1099 reporting process, enabling clients to sort, calculate, and categorize digital asset cost basis with integration into their existing tools.
This new transaction table comes on the back of Ledgible's VP of Tax Information Reporting, Jessalyn Dean, being the first to provide testimony to the IRS regarding REG-122793-19. A team of Ledgible experts also submitted a 19 page comment letter to the IRS on the proposed regulations, leading the way of shaping future digital asset 1099 reporting.
As the regulatory landscape continues to shift, Ledgible stands as a trusted partner of the world's top institutions and digital asset firms for cost basis calculation and tax reporting compliance. The advanced functionality announced in this release supports these efforts and provides Ledgible's partners access to the most trusted source of digital asset tax information data on the market.
The Ledgible Digital Asset Tax and Accounting Platform is built from the ground up to streamline digital asset accounting operations. Ledgible enables companies to account for and manage digital asset data at scale. As a SOC 1 & 2 Type 2 Certified platform, Ledgible is the trusted provider of choice for large banks, fintech providers, and digital asset and tokenization native companies.
Ledgible operates in 4 key verticals – 1099 Tax Information Reporting, Digital Asset Data, Accounting, and Tax Filing. The underlying technology of Ledgible allows native customization to fit the needs of any given project within the digital asset data scope. Ledgible makes digital asset data, legible.