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Case Studies:
Lukka provided technology, data, and professional services to assist in the preparation and timely delivery of Form 1099-B tax Reports to LedgerX’s derivatives trading clients
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“Our traders expect a straightforward, smooth tax reporting experience. As a federally regulated exchange and clearinghouse, we are strongly committed to compliance and data accuracy. Lukka’s tech-forward approach and expert tax team caught our attention early on in our search for a reporting partner.”
Zach Dexter
CEO | LedgerX
LedgerX, one of the leading crypto derivatives exchange and clearinghouse regulated by the US Commodity Futures Trading Commission (CFTC) was faced with the challenge of delivering Form 1099-B tax reports to both their derivatives trading clients and the IRS. Millions of individual transactions had to be reconciled, valued and processed for gain/loss figures, then attributed to the individual traders in order to deliver accurate Form 1099-B’s for each client.
Working with Lukka’s Customer Success Team who are the world’s foremost experts in blockchain and crypto assets and leveraging Lukka Enterprise Software, the LedgerX team delivered all necessary data for Lukka to reconcile, process and report on millions of transactions, while attributing them down to anonymized individual traders. Working with IHS Markit as the delivery agent, the teams were then able to timely distribute copies of the appropriate forms to both LedgerX’s derivatives trading clients and the IRS in preparation for tax season.
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