Best crypto tax software — Generally, crypto tax software should allow you to prepare your taxes for your cryptocurrency assets. It offers features that lets you calculate the loss and profit from your cryptocurrency trading. With this software you can also calculate your capital losses and gains, and take decisions on expenses.
Usually, this crypto tax software also includes a complete crypto analysis tool and portfolio tracker to help you get a general view of all your cryptocurrency holdings in many different wallets and exchanges in one centralised interface. Another important thing to point out is that crypto tax software helps you file and calculate your crypto taxes easily.
It is no story that cryptocurrency and non-fungible token (NFT) traders do not have full consensus on how cryptocurrency, NFTs, crypto interest and other DeFi assets should be taxed. So, if you are a trader your best defence is to use a tax preparation software to help you sort out your taxing issues. These crypto tax software will help you organise and complaints with IRS regulations.
Every day-by-day, the number of people investing in cryptocurrency has become overwhelming. You may want to ask why the rush, but the thing is that, cryptocurrency and NFC can make you a millionaire in a very short span of time.
Of course, in every trade that you do with cryptocurrency, you will definitely pay taxes. And this can be a troubling process to do especially for beginners. So if you’re a big investor in cryptocurrency you probably would go over 100 transactions in a year. And keeping a record of those transactions and calculating your losses and profits accurately may not be possible for everybody.
To make things become faster you can use a crypto tax software which will automatically sync across cryptocurrencies exchange wallets. This software will help you calculate your losses and give you a final report which can be used to file your taxes.
And just like death, taxes are certain. No matter how little or big you invest in cryptocurrency you still have to pay tax. Depending on your country, your tax can range from 0% to 55%. You should also look at laws regarding cryptocurrency taxed in your jurisdiction. Taxes can be charged on the total money you have made from trading or, taxes will be taken from each trade you make.
In some countries, you even have to pay taxes for airdrop events and wallet transfers. This can force traders to track and record every transaction you make. In this light, it might be costly to get an accounting manager to calculate your crypto taxes. But thanks to the many crypto tax software we have online that can easily calculate taxes and generate reports.
So in this article, I have gone out of my way to make a list of the best crypto tax software that will help you get your taxes right.
Top 10 Best Crypto Tax Software
- Cointracking
- BitcoinTaxes
- Bear.Tax
- CryptoTrader.Tax
- CoinTracker
- Koinly
- Accointing
- TokenTax
- ZenLedger
- TaxBit
1. Cointracking
Current tracking is known to be one of the best crypto tax software for diverse investors and traders. So far, Cointracking has become very popular and has garnered over 930,000 active followers. This software definitely comes in handy as it provides you with details of market trends for more than 12,000 coins. Plus, it offers automation features to help you import your crypto transactions.
What CoinTracking does is that it analyses and calculates your crypto tax, which in turn, helps you to trade and generate real-time crypto reports on both profit and loss, and the value of your crypto coins. It also gives updated information about the realized and unrealized gains, reports for taxes, and many more.
Cointracking provides tools to study the trends in coins for trading and supports importing data from over 110 exchanges. It also lets you export the tax reports to CPSs or tax offices. It has a strong base for tax reporting for crypto traders and even for crypto companies.
This crypto tax software lets you create customizable crypto reports that you can use for your analysis. You can also track cryptocurrencies via charts, and more. Cointracking makes it easy to import your trading history from exchange accounts through an automatic API import. In addition, you can import CSV documents and/or also link your blockchain address.
This software also lets you generate tax reports legally compliant with more than 100 countries and use 13 tax methods. And also classify transactions based on your activity. Cointracking features a team of tax advisors who can help review your reports. This solution is offered to traders and also to crypto companies.
If you are a beginner, this software also gives tutorials through FAQs and videos to help you go about its features. So far, Cointracking is one of the best crypto tax software which is packed with some high-quality features for tax reporting and market analysis.
Features
- 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
- 2-factor authentication
- Instantly share your data with your accountant
- Crypto tax laws for 100+ countries
Pros
- Support for +20,000 crypto assets
- Allows you to monitor and trade on exchange accounts via API
- Has a support team that can review your reports
- Available as a desktop or mobile app
Cons
- The free version is limited to two wallets
- Might not be as beginner-friendly compared to other solutions
Pricing
- Free version
- Pro: $10.99 per month
- Expert: $16.99 per month
- Unlimited: $54.99 per month
- Corporate: Contact Cointracking for prices.
2. BitcoinTaxes
BitcoinTaxes is one of the best crypto tax software known to provide comprehensive tax reports and filing. This software lets you know about your capital gains and losses so that you can file your taxes easily and on time. If you don’t know where to start, don’t worry, BitcoinTaxes also offers assistance through an experienced crypto tax professional who can guide you on how to enter crypto trades.
BitcoinTaxes offers a range of features and it is one of the most straightforward tools you can use to calculate your taxes. Plus, it stands as an affordable choice. Using Bitcoin Taxes, you will be able to import your trades from almost every popular exchange, calculate your capital gains, and export the reports in the format you need to file your taxes.
It also has a comprehensive and intuitive user interface and a solid FAQ page that tries to answer all your questions upfront. In all, Bitcoin Taxes covers many currencies, and offers multi-year support, plus it has beneficial packages for both tax accountants and professionals.
Features
- Calculate your capital gains and losses.
- They also offer full tax preparation services, with prices starting at $600.
- Take advice from tax professionals, for tax planning.
- Tax loss harvesting.
Pros
- Import CSV files and upload transaction histories from exchanges and wallets to ease tax filing.
- Generate reports for capital gains, incomes, donations, and closing.
- Form 8949, TaxACT, and TurboTax TXF formats.
Cons
- Limited features for non-premium accounts.
- The free version allows just 100 transactions.
Pricing
There is a free plan and paid plans are as follows:
- Premium: $39.95 per tax year
- Premium Extra: $49.95 per tax year
- Deluxe: $59.95 per tax year
- Trader (50k): $129 per tax year
- Trader (100k): $189 per tax year
- Trader (250k): $249 per tax year
- Trader (500k): $379 per tax year
- Trader (1M): $499 per tax year
- Trader (unlimited): Contact them for pricing.
3. Bear.Tax
Bear.Tax, also known as Fyn, is one of the best crypto tax software that is best for beginners. This software is capable of automatically calculating your taxes, importing your transactions, making tax reports and sending them to your CPA or the tax software you use. It also pushes the received information through top-of-the-shelf gain/loss calculators.
Bear.Tax has an intelligent matching algorithm that can help you identify transactions that are not taxable rather than simply adding them to your reports. With this software, you will be able to know the most accurate historical pricing. And that is a feature that differentiates it from the rest of the software on this list.
In addition, Bear.Tax is an outstanding software for accountants who are looking to take on more clients and their crypto taxes in an efficient manner. If you are an accountant, this software will allow you and your clients to maintain their privacy without compromising the quality of their reports.
So far, Bear.Tax does well at tax reporting for crypto assets which fetches, compiles your transaction history, and generates tax reports. This software is created for Web3 and businesses, and also great for both individual traders and investors.
Bear.Tax provides all the required tax and accounting information you need to file your taxes. Plus its platform has integrated nearly every single crypto exchange which helps to make processes easy. In addition, it helps you save on taxes by making your transactions clear enough to understand.
Bear.Tax works internationally and supports up to 25 countries and has processed over 64 million transactions so far.
Features
- Offers LIFO and FIFO tax formats
- Auto-generated tax reports
- Gains and losses monitoring
- Classifies transactions in up to 11 different categories
Pros
- Supports most legal jurisdictions
- Offers support for both businesses and investors
- Has 24/7 customer support
Cons
- Free version only processes up to 20 transactions
- Support for lesser markets. About 50 exchanges.
- Not available for tax reporting in some countries.
Pricing
- Free
- Basic: $49
- Plus: $149
- Pro: $499
4. CryptoTrader.Tax
CryptoTrader.Tax, also known as CoinLedger, is one of the best crypto tax software known for tax-loss harvesting. So far, it has become one of the most popular tax software that is trusted by more than 100k customers. This crypto tax software supports more than 10,000 cryptocurrencies, gives you current profit and loss reports, syncs through unlimited exchanges, and does much more. In general, it is a highly recommended crypto tax software that offers reasonable pricing plans and offers a good range of features.
CryptoTrader.Tax supports over 350 exchanges and lets you export your data to your tax software. This software strives to save time and maximize your refund. In addition, it is an outstanding crypto tax calculator that can help you punch in all the numbers for your crypto dues and turn them into reports that you can file with the IRS. You can count on it as it will have you covered for all the documents you might need.
CryptoTrader.Tax classifies transactions based on whether you have staked, mined, interacted with a liquidity pool, or received an airdrop. After reviewing, this software lets you export your report into a fillable document that you can send to your accountant or upload to a tax filing platform easily.
With CryptoTrader.Tax, you can easily create international gain/loss reports, the IRS 8949 form, short and long-term sales reports, crypto income reports, etc. In all, this software is straightforward to use and offers accurate data. It is also good to point out that it integrates with TurboTax and TaxDirect. Plus, it supports Ethereum blockchain and NFT transactions.
Features
- Auto-import feature
- Easily navigable dashboard
- Global support
- Produces reports in LIFO, HIFO, and FIFO formats
- 14-day money-back guarantee
Pros
- Features plenty of integrations
- Affordable pricing
- Easy to use and navigate
- More than 500 positive reviews on Trustpilot
- Dedicated NFT tax reporting section
Cons
- High-frequency traders will have to opt for higher-priced tires due to transaction caps
- No direct filing of tax returns.
- Limited customer support for lower-priced tiers.
Pricing
They offer a 14-day money-back guarantee.
- Hobbyist: $49
- Day Trader: $99
- High Volume: $199
- Unlimited: $299
5. CoinTracker
CoinTracker is one of the best crypto tax software for comprehensive tax reports and mobile users. This software is one of the highly trusted crypto tax software that has over 500,000 users. It also tracks your portfolio automatically and saves your money through tax-loss harvesting tools.
Its portfolio-tracking software for numerous cryptocurrencies makes CoinTracker outstanding. Plus it also has all the features you need to turn that portfolio tracking into a tax report. With this software, you can connect with your accounts across all exchanges and wallets you own, export your transaction history or capital gains for your tax software or accountant, and also see your tax summary per each wallet.
Something worth pointing out is its mobile app which is highly rated on both App Store and the Google Play store. The app lets you track your portfolio’s performance and monitor the market in real time. So far, it provides support for 8000+ crypto assets and 300+ exchanges, and it also enables you to export your crypto tax reports. TurboTax or TaxAct. You can also use this platform to generate tax forms compliant across most regulatory jurisdictions.
CoinTracker is partnered with Coinbase, OpenSea, Turbotax, and H&R Block, which can make your usage across all platforms seamless. And your transaction history is unified across all wallets and presented on a user-friendly dashboard. You will also be able to search and filter transactions according to assets, holdings, and gains. If you are ready, you can start tracking and preparing your taxes with CoinTracker for free, but you will be limited to only 25 transactions.
Features
- Automatically syncs transaction history from all wallets
- Compatible with TurboTax
- 30-day money-back guarantee
- Unlimited plan provides you access to personalized CPA
Pros
- Available both online and on mobile (iOS & Android)
- Offers numerous tax report formats
- Supports tracking over 10,000 cryptocurrencies
- Free plan available
Cons
- Free plan supports only up to 25 transactions
- No live chat for free users
Pricing
There is a 30-day money-back guarantee.
- Free
- Hobbyist: Starts at $59
- Premium: Starts at $199
- Unlimited: Priced individually
6. Koinly
Koinly is one of the best crypto tax software highly rated for business and individual local and international filing and tax calculations. This crypto tax software easily connects with all your wallets, exchanges, blockchain addresses, and services so that you can have a clear picture of your invested money across various platforms.
Koinly has a clean and simple interface that is great for beginners. It lets you import all your data and view your crypto capital gains and income, and get a complete report to hand over to your tax preparer or to use for yourself. Also, it supports over 600 integrations with crypto exchanges/wallets and has the largest coverage of blockchains.
With Koinly, you can generate your crypto tax reports no matter where you live. You will also be able to import data from different platforms that are integrated to this system. Once you are done with importation, it further lets you track every fee and reconcile the information on your report and exchanges in a few clicks.
Koinly also provides you with advanced transaction filtering features which you can use to quickly see which transactions resulted in the highest gains and also set notifications regarding your balance. With Koinly, you can customise your taxes in the most effective manner.
Using Koinly, you will be able to tell how much profit or loss you’ve made in every tax year and how much you owe to the government. You will also be able to track your portfolio, ROI, and growth. Just a peep at the user-friendly interface, you can have an insightful overview of your performance.
After finishing your taxing processes, this crypto task software lets you download your tax documents in various formats – some of which are instantly filled.
Features
- Integration with +300 exchanges and wallets for more than 700 currencies
- Creates instantly filled legally-compliant tax reports
- Syncs transaction history via API or CSV files
- Calculates and visualizes all losses and gains
Pros
- Generates locally-compliant tax reports for more than 20 jurisdictions
- Connects and syncs all kinds of wallets within minutes
- Great for both investors and accountants
- Has more than 700 positive reviews on Trustpilot
Cons
- Provides taxing support exclusively on higher-priced plans
Pricing
- Newbie: $49
- Hodler: $99
- Trader: $179
- Pro: $279
7. Accointing
Accointing is one of the best crypto tax software for hobbyists and advanced crypto traders. This software offers good tracking and it is also great at tax reporting. In it, you will also find tools to track the market, analyze your portfolio, offer tax loss harvesting and give you tax reports so that you can easily file for taxes.
Accointing is focused at simplifying the management of your crypto taxes whilst offering seamless integrations that will enable you to easily import all your transactions. This software is known for its user-friendly interface and intuitive crypto data organization that is great for beginners. Its well-organized cryptocurrency tax blog, with informative step-by-step platform guides also helps beginners become experienced users in no time.
Accointing offers a smooth upload process which simplifies your crypto tax filing. It also has a simple dashboard and a wide support for over 300 wallets and exchanges. In addition, Accointing offers top-notch crypto tax tracking tools and a cryptocurrency tax calculator compliant with IRS requirements.
Accointing can calculate users’ taxes in accordance with its supported countries’ regulations. Also, it gives you access to a tracking dashboard, a crypto tax-loss harvesting tool, and a crypto tracker app. It also works for exchange accounts, private wallets, NFT wallets, DeFi accounts, and more.
This software features integrations with over 400 crypto platforms. It can import CSV or XLSX files and connect to blockchains, wallets, and exchanges via API or by pasting a public address. Another thing to point out is that Accointing produces reports in LIFO, FIFO, and HIFO formats. It lets you sign up for free and test the basic tax software.
Features
- Features a portfolio tracker that helps you explore the market and monitor assets
- Generates tax reports in various formats
- Analyzes your portfolio’s performance
- Offers several tax reporting guides specialized for crypto investors
Pros
- Easy to set up. Desktop and mobile support.
- Integrates with 300+ different exchanges and wallets. 7500+ currencies supported. Portfolio tracking.
- Crypto tax expert support.
Cons
- Priority support on Pro plans only.
- Free version has a limit of 25 transactions
Pricing
- Free version
- Hobbyist: $79
- Trader: $199
- Pro: $299
8. TokenTax
TokenTax is great for advanced users and businesses. It is made for calculating complicated taxes for your crypto exchanges so that you can file your taxes easily. This software offers automation features which makes tax reporting very simple and easy to handle.
TokenTax offers to take a solid selection of crypto tax reports off your plate, including IRS Form 8949. It also helps out with crypto income tax, generate a cryptocurrency audit trail, and international gain/loss reports. And just like other crypto tax software on this list, it can also help with tax-loss harvesting and offers margin trading support.
TokenTax is a full-service crypto tax accounting firm that offers the perfect crypto tax calculation software. The platform helps you process complex crypto transactions by calculating taxes based on your transaction history.
TokenTax have also put together a cryptocurrency tax filing team which will be available to help you with any tax-related task; all you have to do is send them a message. In all, TokenTax does not only generate tax reports but also helps you file them.
This crypto tax software features integrations with hundreds of crypto apps and platforms and also lets you import transaction data via API or by submitting a correctly-formatted CSV file.
Features
- Features professional accounting and support services
- It can both generate reports and file them for you
- Has international trading tax support team
- Supports a range of dApps, DeFi protocols, and NFT exchanges
Pros
- Compliant with most global legal jurisdictions
- Supports hundreds of exchanges and protocols
- Features tax-loss harvesting tool
- Seamlessly syncs all data
Cons
- Doesn’t come with a free plan
- The basic plan is feature-barren
Pricing
- Basic: $65
- Premium: $199
- Pro: $799
- VIP: $3,499
9. ZenLedger
Just like TokenTax, ZenLedger is also known to be the best for business and advanced users. This crypto tax software has integration with over 400 exchanges, which includes more than 30 DeFi Protocols. Their customer base spans over 15K. So far, ZenLedger has been one of the biggest providers for crypto tax services to investors and tax professionals.
ZenLedger can help you cover all types of reports and tax forms you might need to file. It also helps out with the calculation required to report capital gains and losses. One unique feature to point out is its Grand Unified Accounting which lets you see all your transactions from multiple wallets and exchanges within a single easy-to-understand spreadsheet.
ZenLedger can also help out with your non-crypto taxes too, like DeFi and NFTs. This software has prepared plans for handling both types of taxes for you. In general, it is an excellent choice for professionals who are looking to provide crypto tax services to their clients.
ZenLedger helps you track trades, as well as see profits and losses. It has a user-friendly dashboard that enables you to monitor your portfolio and track how much capital you have allocated to each asset and see your recent transactions. With this software, you can also get tax reports from each year.
Features
- Supports over 400 exchanges, 100 DeFi protocols, and 10 NFT platforms
- Features integration with TurboTax
- Account data is encrypted and secured by 2FA
- Offers tax-loss harvesting tool
Pros
- Has both live technical support and a team of tax professionals
- Supports even the most niche crypto platforms
- Easy to generate reports and monitor portfolio via a user-friendly dashboard
- Charges services according to the number of transactions processed
Cons
- Tax reports are not legally compatible with all global jurisdictions
- Advanced features available only in the more expensive subscriptions
Pricing
- Free version
- Starter: $49
- Premium: $149
- Executive: $399
10. TaxBit
TaxBit has an unlimited free tier that is great for beginners. This crypto tax software is great for people who want to transform their 1099s and other data into crypto tax reports, as well as enterprises who need to issue 1099s. It also offers automation technology that will sync your data and give you final tax reports, without you doing anything.
TaxBit lets you add unlimited transactions and prepare your tax reports for free with the free plan – so far you have been using the services of one of more than 500 companies within the TaxBit Network Partners program.
This software connects the entire digital asset ecosystem; which spans from investors to governments, enterprises, and individuals.
So far, TaxBit claims to have processed more than 30 million tax reports in 2022. And more than 5 million users have used this software to import and process transactions from various exchange accounts, NFT protocols, and blockchain wallets.
TaxBit is integrated with more than 500 crypto platforms and it has a tax generation experience which is completely automated. All you have to do is import your transaction history, and TaxBit will take care of the rest. Another thing to point out about TaxBit is its user-friendliness and easy-to-use platform.
Features
- Supports over 500 crypto platforms
- Intuitive dashboard that showcases portfolio performance, tax estimates, and balances
- Allows you to analyze your portfolio
- Accurately outputs tax data into an exportable report
Pros
- Made for enterprises, investors, and even governments
- Offers support from the industry’s greatest tax experts
- TaxBit is SOC1, SOC2, and ISO 27001 certified
- Optimizes taxes via tax-loss harvesting tool
Cons
- Automated portfolio sync is limited
- Manual formatting for CSV files.
- Limited auto-sync reporting.
Pricing
- Basic: $50
- Prus: $175
- Pro: $500
Conclusion
In all, the process is one of the simplest so far. You don’t need to worry about the process as it is already programmed. This makes it easy for crypto traders to use it to file taxes without any technical knowledge. Again, this makes it great for people with no accounting knowledge.
In a nutshell crypto tax software helps you track your crypto portfolio accurately. And it is something you have to take seriously if you want to file and track your taxes correctly.
Frequently Asked Questions
What is the overall best crypto tax software?
There are many crypto fax software that are highly rated, but the overall best rank tracking software would be Koinly.
What is the easiest crypto tax software for beginners?
Some of the easiest crypto tax software for beginners include TaxBit, Accointing, and Bear.Tax.
What is the best free crypto tax software?
The best free crypto tax software are Cointracking, CoinTracker, and Bear.Tax.
References
- Softwaretestinghelp.com – 10 BEST Crypto Tax Software in 2022 [TOP SELECTIVE ONLY]
- Fortunly.com – Best Crypto Tax Software Solutions Reviewed
- Academy.shrimpy.io – Top 10 Best Crypto Tax Software (2022)
