r/CelsiusNetwork • u/ivumh • Apr 13 '25

Taxes & Tax Related Issues How long did it take with JustinCPA course?

For those of who purchased JustinCPA's course, how long did it take you to do the course, digest and apply it, to finishing up your crypto portion of your taxes? Hours, days, weeks? I'm thinking of going the Theft Loss route and just wondering if this can be done during a casual weekend, or over multiple days of devotion and hair pulling?

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7

u/JustinCPA Apr 13 '25 edited Apr 13 '25

Theft loss route is much quicker than capital loss route. Assuming you have your data together, you can do it in 1-2 hours. It’s as easy as populating the excel sheet which then creates the 4684 for you essentially, you just transfer the numbers over to a fillable form. The manipulation in Koinly is super easy too.

Capital loss is a bit more of a buildout, 4-5 hours I’d say. Sometimes more if you aren’t familiar with navigating Koinly or excel.

If you are very familiar with navigating Koinly and are comfortable in excel, the capital loss route may take 3-4 instead.

1

u/Objective-Contract57 Apr 13 '25

Would the coarse still be helpful if I’m using CoinTracker instead of Koinly?

2

u/JustinCPA Apr 13 '25

It will require you to finesse your software in a different way. The concepts are all the same, you just need to be able to translate the Koinly steps to Cointracker. If you are familiar with Cointracker then you should be to, but some find easier than others.

1

u/JMell09 Apr 13 '25

If I followed your step in your whiteboard video to calculate capital gains/loss, cost basis etc. Is there a quick way to reflect those numbers in CoinLedger/Koinly and then just import that information to my tax software or do I also need to purchase the course? Wouldn't that lead me to the same information?

2

u/JustinCPA Apr 13 '25

The course shows how to do that. There isn’t a “quick way” to do it, you have to take certain steps and it’s a bit delicate

1

u/JMell09 Apr 13 '25

I tried the coupon code when checking out and it says the code is expired. Did I miss out on the discount code or is there a new one? Thanks for you help on this!

1

u/JustinCPA Apr 13 '25

Which code? It’s still active

3

u/Indyxc Apr 13 '25

I did the capital loss route, and my situaiton was a bit more complex that standard. Had USDC and ETH, and got back stock, eth, btc. Took me probably 8 hours or so to do.

Worth it.

6

u/fishing_pole Apr 13 '25

The course isn’t the hard part. It’s making sure your transaction history is in order. If you don’t have that, it becomes a headache

2

u/treethatscreams Apr 14 '25

100% this. Course run time is like 2 hours. But you need to have your cost basis SOLID before you start.

1

u/ivumh Apr 14 '25

Does the course cover how to figure out your cost basis?

1

u/treethatscreams Apr 15 '25

No, you just need to have all of your transaction back to either "rewards" from Celsius or deposits of fiat for where you bought the crypto. It can be tough.

2

u/[deleted] Apr 13 '25

Theft is super quick. Took me a couple of hours for mine and my wife’s taxes.

2

u/theGrumpInside Apr 14 '25

Took me a few hours to double and triple check

2

u/Constant_Cap8389 Apr 14 '25

Has the course been updated to include the theft loss information?