Best Crypto Tax Software
1) Koinly – Best for Automating tax reports
Koinly is a crypto tax software that helps you produce a crypto tax report with just a few minutes of work. It allows you to have a preview of your capital gains tax for free, and you can even track your expected capital gains on crypto over time rather than getting a surprise once tax season rolls around. Features: Exchanges Supported: 350+ exchanges including Coinbase, Binance, Kraken, KuCoin, BitMex Import & Export Format Supported: API or CSV files NFT & Defi Taxes: Yes
Automatically syncs your data from all sources. You can track your crypto assets & taxes. It helps you to find and fix issues with your transactions. This crypto tax tracking software allows You to track your portfolio across your wallets & accounts.
Preview your capital gains on crypto. Allows you to download your tax documents. It supports audit trail, short and long capital gain calculation, cash flow analysis, and cost basis accounting. You can import and export in API or CSV file formats. All Guru99 Users Get 10% Off. Simply Click this Link and Get 10% off at checkout
Key Specs:
Pricing: Four pricing plans: 1) Newbie – $49 per tax year 2) Holder – $99 per tax year 3) Trader – $179 per tax year 4) Pro – $279 per tax yearFree Trial: YesExchanges Supported: 350+ exchanges including Coinbase, Binance, Kraken, KuCoin, BitMexWallet Supported: 50+ including Electrum, Ledger, Trezor, Trust, Amon, ArgentNumber of coins supported: 6000+NFT and Defi Taxes: Yes. However, NFTs should be added manually.Country Supported: The web interface is simple to use and supports the US, UK, Canada, Australia, and many other countries. Visit Koinly » Get 10% Off
2) CoinTracking
CoinTracking analyses are crypto tax calculating that helps you to trade and helps you to generate real-time crypto reports on profit and loss, the value of your crypto coins. You will also get updated information about the realized and unrealized gains, reports for taxes, and much more. Features: Exchanges Supported: Bitbox, Binance, Bybit, FXT, Kraken, Kucoin, Uphold, Okex, Zerion, etc. Import & Export Format Supported: PDF, CSV, API, XML, & JSON. NFT & Defi Taxes: No
1250+ CPAs & Corporate Clients 12 Years of Historical Data 25 customizable crypto reports Enables you to share your data with crypto tax advisors Direct sync with the blockchain This best crypto tax app offers 2-factor authentication Instantly share your data with your accountant Crypto tax laws for 100+ countries It supports audit trail, short and long capital gain calculation, cash flow analysis, and cost basis accounting. You can import and export in PDF, CSV, API, XML, & JSON file formats.
Key Specs:
Pricing: Four pricing plans 1) Free 2) Pro- $10.99 per month 3) Expert– $16.99 per month 4) Unlimited- $54.99 per month.Free Trial: Lifetime Free Basic PlanNFT and Defi Taxes: NoExchanges Supported: Bitbox, Binance, Bybit, FXT, Kraken, Kucoin, Uphold, Okex, Zerion, etc.Wallet Supported: Trezo, ADA, BNB, DASH, TRX, XRP, MATIC, AVAX, etc.Number of coins supported: 16,465 Coins Visit CoinTracking » Lifetime Free Basic Plan
3) CoinLedger – Best for calculating your crypto taxes in the USA
CoinLedger offers an additional functionality focused on crypto income, making it a preferred solution for many crypto users who work in the bitcoin and, more significantly, the cryptocurrency industry. This crypto tax advisor guides your clients through a step-by-step process for importing their cryptocurrency transactions.
Features:
Offers 100% Money-back guarantee You can deal with crypto that you obtained through mining, staking, gifts, airdrops, and forks Practical tax calculator You can import your transaction data easily from different crypto platforms Form 8949 & Income Reports It offers resources to increase your knowledge about the crypto world This crypto tax tracker Provides complete audit support Offer tax-loss harvesting tool It supports audit trail, short and long capital gain calculation, cash flow analysis, and cost basis accounting. You can import and export in API, or CSV file formats.
Key Specs:
Pricing: Four pricing plans: 1) Hobbyist- $49 2) Day Trader: $99 3) High Volume- $199 4) Unlimited- $299Free Trial: No, but the 14-day money-back guarantee.NFT and Defi Taxes: NoExchanges Supported: Coinbase, Binance, Kraken Gemini, Celsius, Bittrex, Uphold, Bitstamp, Changelly, etc.Wallet Supported: Exodus, Abra, Jaxx, Ledger, Trezor, and Trust.Countries Supported: USA, UK, Canada, and others Visit CoinLedger » 14 Day Money Back Guarantee
4) CoinTracker – Best for Portfolio value tracking feature.
CoinTracker is an easy-to-use crypto tax software that helps you to start tracking your crypto portfolio, investment performance, and taxes by adding your first wallet or exchange. It provides support for 8000+ crypto assets and 300+ exchanges, and it also enables you to export your crypto tax reports to TurboTax or TaxAct.
Features:
Accurately tracking cryptocurrency investment performance and taxes You can calculate your capital gains You can view your market value, investment performance, and portfolio allocation in real time Enables you to tax-loss harvest your portfolio to save thousands per year You can become fully compliant with cryptocurrency tax rules It supports audit trail, short and long capital gain calculation, cash flow analysis, and cost basis accounting. You can import and export in CSV and Excel file formats.
Key Specs:
Pricing: 1) Free 2) Hobbyist – Starts at $59 3) Premium – Starts at $199 4) Unlimited- Contact supportFree Trial: Free up to 3,000 transactionsNFT and Defi Taxes: Not supported.Exchanges Supported: Binance, Bitfflnext, FTC, Okex, Bistamp, Deribit, CoinSpot, Cex, etc.Wallet Supported: BitBox, Electrum, Exodus, GateHub, LedgerLive, Trezor, etc.Country supported: Provides Full support for US, UK, Canada, and Australia and partial support for others.Number of coins supported: 10+ Visit CoinTracker » Free up to 3,000 transactions
5) TurboTax
TurboTax is one of the leading tax preparation software that allows you to file your taxes confidently and accurately. This crypto tax software offers a user-friendly interface for processing and electronically filing tax returns for individuals and businesses.
Features:
It enables you to find the most tax deductions and credits for your situation. It provides a wide range of products to help simplify your tax return, from free software to tax preparation services. Provides the tools you need to complete your tax return. It uses the latest tax laws to give you a 100% accurate return. You will get the help of an expert to file taxes on your behalf of you and send you an email when your return is accepted. It supports audit trail, short and long capital gain calculation, cash flow analysis, and cost basis accounting. You can import and export in API, or CSV file formats.
Key Specs:
Exchanges Supported: Robinhood, Coinbase, Coinbase Pro, Gemini, Binance.US, Crypto.com, Kraken, Uphold, CoinTracker, CEX.IO, HitBTC, etc.Wallet Supported: NoNumber of coins supported: Up to 4,000 cryptocurrency transactions at onceNFT and Defi Taxes: Yes, if held for investment purposesCountry Supported: United States Visit TurboTax » Lifetime Free Basic Plan
6) Coinpanda – Best for Its speed to calculate your taxes and capital gains.
Coinpanda is a leading solution for crypto tax calculations and filing such taxes with authorities. It has direct integration with more than 500+ exchanges, supporting over 12,000+ cryptocurrencies, wallets, and blockchains.
Features:
All your data is automatically imported. It easily imports the historical transactions using CSV or API keys. It provides you with a tax-loss harvesting tool, using which you can pay fewer taxes. It supports margins trading and futures. Supports NFTs, DeFi, and staking too. It is available in 65+ countries. It offers portfolio tracking and allows you to gain insights on personal dashboards, profit loss graphics, and 12,000+ coins. Offers free tax reports preview. It supports audit trail, short and long capital gain calculation, cash flow analysis, and cost basis accounting. You can import and export in API, or CSV file formats.
Key Specs:
Pricing: There are 4 pricing plans. 1- Free plan- $0, 2- Holder plan- $49, Trader plan- $99, and Pro plan- $189.Free Trial: Lifetime Free Basic Plan.Exchanges Supported: 500+ including Coinbase, Binance, Kraken, KuCoin, BitMex, HitBTC, Gemini, etc.Wallet Supported: 75, AdaLite, Electrum, Ledger, Trezor,Number of coins supported: 10,000+ coins.NFT and Defi Taxes: Yes, it supports.Country Supported: 65+ countries like the US, Canada, Australia, the UK, Germany, Norway, Greece, France, Malta, Poland, Finland, Sweden, etc. Visit Coinpanda » Lifetime Free Basic Plan
7) TokenTax – Best for integrations with popular exchanges
TokenTax is a cryptocurrency tax software made for calculating complicated taxes for your crypto exchanges so that you can file your taxes. It offers automation features to make tax reporting extremely simple and easy to handle.
Features:
Allows you to automatically fill out your crypto tax forms for easy cryptocurrency tax filing. Dashboard tells you exactly about your unrealized gains and losses. You can keep track of your capital gains and trading performance. Tax-loss harvesting dashboard. It helps you to integrate automatically with exchanges to gather your data. You can calculate as well as file for your taxes. It supports audit trail, short and long capital gain calculation, cash flow analysis, and cost basis accounting. You can import and export in CSV file.
Key Specs:
Free Trial: Lifetime Free Basic PlanPricing: Three main pricing plans 1) Basic $65/tax year 2) Premium- $199/tax year 3) Pro- $799/tax year.NFT and Defi Taxes: YesExchanges Supported: Binance, Bitmex, Bitpay, Cex.io, Coinbase, Deribit, Gemini, Kraken, Uphold, etc.Wallet Supported: Binance, Bitmex, Bitpay, Cex.io, Coinbase, Deribit, Gemini, Kraken, Uphold, etc.Number of coins supported: 100+ Visit TokenTax » Lifetime Free Basic Plan
8) Accointing
Accointing is crypto tax software that automatically helps you classify and calculate your crypto taxes in the USA. It offers tools to analyze your portfolio to make better moves in the future. According to HMRC guidelines, you can generate capital gains on crypto and income tax reports on your crypto transactions.
Features:
It helps you to explore your crypto market. Calculates your gains and losses. You can create tax reports downloaded and used them for filing taxes. You can easily print crypto tax reports at any time. Provides a completed breakdown of all your transactions in a consolidated report. You can generate a file with all your transactions so you can quickly review them in Excel or Google Sheets. Provide portfolio analysis tools. It supports audit trail, short and long capital gain calculation, cash flow analysis, and cost basis accounting. You can import and export in CSV file.
Key Specs:
Pricing: Three pricing plans: 1) Hobbyist- $79- per month. 2) Trade-$199- per month. 3) Pro-$299- per month. Free Trial: File up to 25 transactions freeNFT and Defi Taxes: NoExchanges Supported: Binance, Bitpanda, FTX, Kucoin, Kraken, OKEX, Phoenix, Uphold, etc.Wallet Supported: Atomic Wallet, Binance Chain, Bitcoin, Blade, Cardano, Coinbase, Dash, Dogecoin, Keepkey, LocatBitcoin, Polkadot, Ripple, etc.Number of coins supported: 4500+ coinsCountry supported: USA, United Kingdom, Austria, Switzerland, and Germany. Visit Accointing » File up to 25 transactions free
9) ZenLedger – Best for Tax professionals
ZenLedger is a crypto tax software that supports integration with more than 400 exchanges, including 30 Defi Protocols. With more than 15K customers, this crypto tax calculating application simplifies crypto tax to investors and tax professionals.
Features:
Uses your cryptocurrency transaction history to generate a Schedule easily. It helps you to calculate your crypto profits and losses with the help of your transaction history. You can easily integrate with TurboTax. You can have access to a tax pro with all its plans. Tax-loss harvesting tools. It supports audit trail, short and long capital gain calculation, cash flow analysis, and cost basis accounting. You can import and export in CSV, and API file.
Key Specs:
Free Trial: YesPricing: Four pricing plans 1) Free 2) Starter-$49 per year 3) Premium- $149 per year 4) Executive- $399 per year.NFT and Defi Taxes: YesExchanges Supported: Binance, BlockGi, Cex.io, Coinbase Pro, Deribit, Coinswitch, Bitmex, FTC, Uphold, etc.Wallet Supported: Bitpay, Coinomi, Exodus, Ledger, Trust Wallet, MyCrypto, Trezor, etc.Number of coins supported: 400+ exchanges, 40+ blockchains, and 20+ DeFi protocols.Supported countries: Across the world. Visit ZenLedger » Get Started for Free
10) Taxbit – Best for Integration support of Coinbase and PayPal.
TaxBit is an online crypto tax application that helps you connect with the consumer and enterprise cryptocurrency tax experiences. One of the cheapest crypto tax software uses automation technology to sync your data and gives you final tax reports without any human intervention.
Features:
It provides supports more than 150 exchanges and 2000+ currencies. Offers dashboard that shows you your tax position, asset balances, and unrealized profits/losses. Offers features like tax-loss harvesting and portfolio performance analysis. Designed by CPAs and tax attorneys. It supports audit trail, short and long capital gain calculation, cash flow analysis, and cost basis accounting. You can import and export in All .XLS and CSV file.
Key Specs:
Pricing: Three pricing plans 1) Basic: $50 per year 2) Plus: $175 per year 3) Pro: $500 per yearFree Trial: NoNFT and Defi Taxes: Yes- but need to add acquisition data.Exchanges Supported: BTC, ETH, BCH, DOGE, LTC, BSC, and DASH.Wallet Supported: BTC, ETH, BCH, DOGE, LTC, BSC, and DASH.Number of coins supported: All exchangesCountries Supported: USA. Link: https://taxbit.com/
11) CryptoTax Calculator – Best for complex tax calculations
Crypto Tax Calculator performs tax calculations with a high degree of accuracy. It enables you to generate tax reports for all financial years. It is one of the most accurate crypto tax software solutions for investors and accountants. The site offers a full breakdown of each calculation to understand precisely how your taxes have been calculated.
Features:
This one of the best crypto tax calculators offers an algorithm to calculate these and generate tax reports for you. Directly upload your transaction history via CSV or API integrations. It helps you effortlessly import the data into your tax software or forward it to your accountant. It is one of the best tax software for cryptocurrency that Covers NFTs, DeFi & DEX trading IRS Form 8949 & TurboTax Support. Automatically categorize transactions. It supports audit trail, short and long capital gain calculation, cash flow analysis, and cost basis accounting. You can import and export in PDF, and CSV file.
Key Specs:
Pricing: 1) Basic: $10 per tax year 2) Intermediate: $45 per tax year 3) Expert: $85 per tax year 4) Professional: $200 per tax yearFree Trial: NoNFT and Defi Taxes: YesExchanges Supported: Binance, BitBay, Bitbns, BlockFi, Changelly, Coinbase, Electrum, Kucoin, Leger, etc.Wallet Supported: Binance, BitBay, Bitbns, BlockFi, Changelly, Coinbase, Electrum, etc.Number of coins supported: 100+Supported countries: Greece, Japan, Portugal, USA, UK, Sweden, etc. Link: https://cryptotaxcalculator.io/us/
How to Choose the Best Cryptocurrency Tax Software – Buyer’s Guide
You need to consider a few attributes when purchasing the best cryptocurrency software for tax preparation. Step 1) Your crypto tax software should allow uploading multiple types of CSV files and data, as well as connecting APIs and wallets seamlessly. Step 2) You should look for the best cryptocurrency tax software which ensures the safety of your data. Step 3) The software platform should automatically generate needed tax forms and support more advanced tax situations. Step 4) It should allow file exporting to all major tax filing platforms, like TaxAct or TurboTax. Step 5) The cryptocurrency and bitcoin tax software should come with solid customer support. Step 6) You should check the data transfer capacity of the software. Step 7) You should also look for software with adequate bandwidth to handle your cryptocurrency transactions. Step 8) Lastly, you should look for the number of cryptocurrency tax software integrations.
FAQs
In several cases, this sort of software will also include a complete crypto portfolio tracker, which allows you to get a bird’ eye view of all your crypto holdings across many different exchanges and wallets in one centralized interface.
KoinlyCoinTrackingCoinLedgerCoinTrackerTurboTaxCoinpandaToken TaxAccointing
For example, your grocery store uses FIFO system that the fresher bread or milk gets sold first. The same holds for cryptocurrency, and most traders use a FIFO inventory, selling their oldest crypto first. However, you can use either system; FIFO typically offers the most tax benefit. A FIFO system allows you to sell long-term assets before short-term ones, since long-term gains are taxed at a lower rate.
Exchanging your cryptocurrency for another cryptocurrency.Selling your crypto for fiat (USD, EURO, GBP, AUD, etc.You can use your crypto assets to pay for goods or services.When you receive cryptocurrency as earnings through mining or as payment for services offered to a third party.
Step 1) Add your exchange accounts to the software via API or CSV files. Step 2) You can connect your blockchain wallets using public keys. Step 3) After that, you can preview your capital gains on your crypto. Step 4) The crypto tax software enables you to download the tax documents, such as Form 8949, Schedule 1, and Schedule D. Some cryptocurrency tax software tools also allow you to download more comprehensive reports of your portfolio’s performance and overall transactions. It allows you to keep track of the cost basis, gains, sales prices, and other relevant information. The best crypto tax calculator also helps you keep track of all this data for you and presents you with accurate and downloadable tax reports you can file with the IRS.
You can use a Roth IRA to purchase paper crypto in bitcoin and crypto ETFs and trusts (such as Purpose Investment’s BTC ETF). This enables you to use the money you’ve already paid taxes to invest in Bitcoin to avoid capital gains).If it is a year ends and you are losing money on your crypto positions, sell your crypto, book your loss, and then buy back. This will undoubtedly reduce taxes.Abandon your citizenship and move to another country that doesn’t tax capital gains.
Step 1) First, evaluate the market value of the cryptocurrency on the day bought/sold. Step 2) Determine the correct taxable event. Step 3) Determining the tax basis. Step 4) Keep a provision for Bitcoin loss. Step 5) Reporting of income and capital gains on crypto.
