If you traded crypto last year, you need to report to the IRS on capital gain taxes from now on. I have shortlisted the best crypto tax software below to help you navigate through the hassle. I suggest you start this as early as possible to avoid being hunted down by the IRS.
What Are the Best Crypto Tax Software?
They should be able to sync your data with the exchange you use. Great software can give you the profit and loss reports as well as tax reports clearly. Ideal crypto tax platforms support the biggest number of crypto exchanges so that you are free to hop on to other exchanges in the future.
Here is the list:
- TokenTax
- TaxBit
- ZenLedger
- Cointracking
- CoinTracker
1. TokenTax
Overview
TokenTax is a crypto tax calculator and full-service accounting firm. They help you to fill in all the necessary forms, including Form 8949 – Schedule D, FBAR and international forms.
Top Features
- Integrations with exchanges, protocols, and wallets
- Automated forms and real-time reports
- Expert crypto accounting and reconciliation teams
- Top-level VIP packaging available
Pricing
- Basic: $65 / tax year (up to 500 transactions)
- Premium: $199 / tax year (up to 5,000 transactions)
- Pro: $799 / tax year (up to 20,000 transactions)
- VIP: $3,499 / tax year (up to 30,000 transactions)
My Take
TokenTax has a wide range of plans from casual traders to pros. All crypto traders will find a solution that suits your needs.
2. TaxBit
Overview
TaxBit is a unified platform for tax and accounting for all sorts of cryptocurrencies. They have solutions catered for individuals and enterprises.
Top Features
- APIs integrate with any native platform, enabling instant automation and optimization
- Modern design on visualization across various platforms
- Independently SOC 2 certified
- The ERP sub-ledger solution for digital assets
- The TaxBit Network makes tax forms free to users of supported companies
Pricing
- Basic: $50 per year
- Prus: $175 per year
- Pro: $500 per year
My Take
TaxBit is a very comprehensive solution. They support both individuals and enterprises. They also have their own TaxBit Network which makes tax forms free to users of supported companies
3. ZenLedger
Overview
ZenLedger is a platform connected to 500+ crypto exchanges and wallets. You can download and file your crypto tax forms easily. You can review all your crypto transactions on one platform. It has a free version to start with.
Top Features
- A big number of integrations with exchanges via APIs
- Instant chat and phone support during business hours
- Tax loss-harvesting tool for all customers
Pricing
- Free: $0 per year
- Starter: $49 per year
- Premium: $149 per year
- Executive: $399 per year
- Platinum: $999 per year
My Take
ZenLedger has a free version to start. It is great for very casual traders and connects to a huge number of exchanges and wallets. They also offer good customer service and support. Tax loss-harvesting is also available for all customers.
4. Cointracking
Overview
Cointracking is an international player in crypto tax services. It covers tax reports for 100+ countries. They also have a chart history of 19,000+ coins.
Top Features
- Cointracking covers tax reports for 100+ countries
- Chart history of 19,000+ coins
- 2-factor authentication
- No access to your exchanges required
- Legacy support for closed exchanges
- Support both crypto traders and companies
Pricing
- Free
- Pro: $10.99 per month
- Expert: $16.99 per month
- Unlimited: $54.99 per month
- Corporate: Contact them for prices
My Take
Cointracking is an international platform for crypto tax reporting. They support 100+ countries. They also have good analysis support that can help you see the history of thousands of coins.
5. CoinTracker
Overview
CoinTracker is a big player in crypto tax reporting services. They are official tax partner of Coinbase and OpenSea.
Top Features
- Export your tax reports to TurboTax or TaxAct
- Automatically sync your transaction data from unlimited number of crypto exchanges
- You can consult a CPA with unlimited plan
Pricing
- Free
- Hobbyist: Starts at $59
- Premium: Starts at $199
- Unlimited: Priced individually
My Take
There is a 30-day money back guarantee. So you can comfortably kick-start your trial. However, CoinTracker only supports around 2500 cryptocurrencies, which is lower than its competitors.
What Is Crypto Tax Software?
Crypto tax software is a specialized program that helps users calculate their taxes on cryptocurrency investments. The software provides users with the ability to track their gains and losses, as well as create detailed reports that can be used for tax purposes. Crypto tax software typically integrates with popular cryptocurrency exchanges and wallets, making it easy for users to track their transactions.
Summary
Despite many other ways to increase your income, cryptocurrency has become more popular over the years. Traders need to be careful in reporting taxes. We have listed the best crypto tax software which has various features supporting worldwide customers, including individuals and enterprises. So, choose your software and comply with the law.
