Best Crypto Tax Software Pieces in 2022

Filing and calculating your crypto taxes can be an overwhelming task, especially if you trade a lot. This is where the best crypto tax software comes into play. In this article, we examine the best software tools you can use to help with cryptocurrency tax preparation. We also show how you can choose wisely among the plethora of options available.

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1. Koinly

As a leader in the industry, Koinly utilizes international crypto tracking services, automated data importing, fee tracking, information reconciliation, transaction filtering and comprehensive support in more than 20 countries. It also generates crypto tax reports in under 20 minutes and offers suggestions on how to save next year. Full Review

  • Over 6,000 cryptocurrencies
  • Available in 20+ countries
  • Up to 10,000 transactions with the free plan
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As a leader in the industry, Koinly utilizes international crypto tracking services, automated data importing, fee tracking, information reconciliation, transaction filtering and comprehensive support in more than 20 countries. It also generates crypto tax reports in under 20 minutes and offers suggestions on how to save next year. Full Review

Speed

5/5

Ease Of Use

5/5

Price

5/5

Extra Services

4/5

2. CryptoTrader.Tax

Cryptotrader.tax offers various tools to help offset any tax losses you incur. On top of that, it provides free previews of tax reports, international support, and is a partner of Turbotax. Full Review

  • Tax-loss harvesting tool
  • 100% money-back guarantee
  • Integration TurboTax
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Cryptotrader.tax offers various tools to help offset any tax losses you incur. On top of that, it provides free previews of tax reports, international support, and is a partner of Turbotax. Full Review

Speed

5/5

Ease Of Use

5/5

Price

4/5

Extra Services

4/5

3. TokenTax

TokenTax supports each crypto exchange and tax jurisdiction worldwide. It also provides tax reports, a tax-loss harvesting option, and margin trading taxes are also calculated. Full Review

  • Works everywhere.
  • Works with margin trading accounts.
  • Hands-on professional support.
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TokenTax supports each crypto exchange and tax jurisdiction worldwide. It also provides tax reports, a tax-loss harvesting option, and margin trading taxes are also calculated. Full Review

Speed

4/5

Ease Of Use

5/5

Price

4/5

Extra Services

4/5

4. ZenLedger

ZenLedger is the best for complete rookies, as it fills out forms quickly. It’s also excellent for tracking trades, tax savings, and calculating profits/losses. Additionally, it supports more than 400 exchanges. Full Review

  • Robust tax professional support.
  • TurboTax software features.
  • Premium customer support for free users.
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ZenLedger is the best for complete rookies, as it fills out forms quickly. It’s also excellent for tracking trades, tax savings, and calculating profits/losses. Additionally, it supports more than 400 exchanges. Full Review

Speed

5/5

Ease Of Use

5/5

Price

4/5

Extra Services

5/5

5. Cointracker.io

Cointracker offers fast monitoring and information updates and tracks your investments as a portfolio manager. The software gathers your transactions from over 300 exchanges and organizes them. Full Review

  • Tax generation Form 8949
  • Free software features cover all tracking needs
  • API Integrates with major crypto exchanges
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Cointracker offers fast monitoring and information updates and tracks your investments as a portfolio manager. The software gathers your transactions from over 300 exchanges and organizes them. Full Review

Speed

4/5

Ease Of Use

5/5

Price

4/5

Extra Services

5/5

6. Bear.Tax

Bear.Tax has a dedicated section for accountants who handle crypto taxes on behalf of clients, making it a fund manager’s platform, too. Private sessions are icing on the cake. Full Review

  • Cheapest paid offering
  • Tools for crypto accountants
  • Integrates with traditional tax software
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Bear.Tax has a dedicated section for accountants who handle crypto taxes on behalf of clients, making it a fund manager’s platform, too. Private sessions are icing on the cake. Full Review

Speed

4/5

Ease Of Use

4/5

Price

5/5

Extra Services

5/5

7. Cointelli

Cointelli is the top crypto tax service for anyone looking for excellent accuracy and reliability. Created by professional CPAs, it offers an intuitive dashboard, with an auto-fix feature that ensures you make no errors. It’s also highly secure and has a For Accountants feature that integrates with any tax software. Full Review

  • Supports 100+ exchanges, wallets, and blockchains
  • Created by CPAs
  • Provides 24/7 support from trained tax advisors
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Cointelli is the top crypto tax service for anyone looking for excellent accuracy and reliability. Created by professional CPAs, it offers an intuitive dashboard, with an auto-fix feature that ensures you make no errors. It’s also highly secure and has a For Accountants feature that integrates with any tax software. Full Review

Speed

5/5

Ease of Use

5/5

Price

5/5

Extra Services

4/5

8. TaxBit

TaxBit is the dominant provider of 1099 forms, while its widely popular backers include PayPal, Coinbase Ventures, and Winklevoss Capital. Their zero error and safety-oriented policies make this company a great choice. Full Review

  • Supported by big crypto companies
  • Services for consumers and enterprises
  • Designed by CPAs and tax attorneys
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TaxBit is the dominant provider of 1099 forms, while its widely popular backers include PayPal, Coinbase Ventures, and Winklevoss Capital. Their zero error and safety-oriented policies make this company a great choice. Full Review

Speed

5/5

Ease Of Use

5/5

Price

5/5

Extra Services

5/5

Methodology

To ensure that we provide only the best tax software tools for you to use, we checked the following factors in our review methodology:

  • Integrations: we checked which software pieces have the best integrations with existing technologies. The best ones use API/CSV configurations to communicate with cryptocurrency platforms and programs.
  • Bandwidth: the best cryptocurrency tax software tools should have great data transfer capacities. This is critical for heavy crypto traders that conduct trades frequently.
  • Essential Functions: this refers to the software’s ability to compile and organize data, retrieve information, format such data, and track your losses and gains with ease and convenience.
  • Reputation: we also checked each crypto tax software’s history, track records, and comparative standing versus other brands and providers.
  • Pricing: arguably one of the top considerations for every user, the pricing should be reasonable for the features that the software provides. We checked which ones offer the most affordable pricing for the greatest number of features.
  • Customer Support: problems are not unheard of when it comes to cryptocurrency platforms — more so with tax software pieces. We checked which companies provide the best customer services.

Best Crypto Tax Software Pieces Compared

Koinly
Koinly
Koinly

Best for Professional Traders With Years of Experience Trading

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  • Free version available
  • Available in 20+ countries
  • Over 6,000 cryptocurrencies
  • Supports advanced use cases, such as staking
  • Expensive for frequent traders
  • Doesn’t accept bitcoin payments

Koinly is a cryptocurrency tax software that utilizes international crypto tracking services to go along with tax filing features.

It provides comprehensive support in more than 20 countries, across the Americas, Europe, and Asia. What’s more, Koinly also supports more than 6,000 cryptocurrencies and integrates, via API and CSV, with 350 exchanges, including Coinbase, Binance, and Kraken.

You can access a host of tax reports from Koinly, including multiple cost-basis methods, small transfer matching, and cryptocurrency gains and margin trading summaries. As a world-renowned day trading tax software, Koinly also supports staking, lending, and decentralized finance platform integrations.

The platform, itself, is more suitable for users with more experience and engagement with the crypto market. It has a comprehensive interface with links to various exchanges. Overall, it’s geared towards traders who have accumulated experience in trading, investing, mining, staking, and lending.

Koinly can be used for free, and while the features are limited, you can still use them to effectively calculate the capital gains tax you need to pay yearly. But if you want to enjoy this cryptocurrency tax software’s more advanced features, you can try paid plans that range between $49.00 and $179.00, which allow for more transactions and full customer support.
The platform also offers live chat and email options. And on their website, you can check out the list of tax professionals available for every tax jurisdiction they cover.

CryptoTrader.Tax
CryptoTrader.Tax
CryptoTrader.Tax

Best for Crypto Traders Familiar With Traditional Tax Management Tools

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  • Tax-loss harvesting tool
  • Integration TurboTax
  • 100% money-back guarantee
  • Limited support for other use cases
  • Limited support, except under Unlimited plan

If you want to save money on your bitcoin trading taxes, CryptoTrader.Tax is the best option available. Not only is it tightly integrated with traditional tax reporting software tools around it, but it also offers various tools to help offset any tax losses you incur.

CryptoTrader.Tax has great synergy with TurboTax. Simply compile your crypto tax data into the API and import the CSV documents directly into your TurboTax documents. You can also lower your overall taxes through the platform’s tax-loss harvesting feature. Additionally, CryptoTrader.Tax offers a money-back guarantee.

This crypto tax software allows you to calculate your capital gains and cryptocurrency losses related to fair market value and cost basis data. While these are difficult to do manually, CryptoTrader.Tax makes these processes straightforward.
This platform also boasts simplicity when it comes to the app interface, which ensures you won’t be overpaying your taxes. You can also easily view connections to such major exchanges as Coinbase, Binance, and Gemini.

CryptoTrader.Tax’s downside is that there’s no integration with TurboTax. Its paid tiers, however, offer a larger number of trades. Its Unlimited plan offers unlimited trade imports for $299.00 per year.

Customer support also varies per plan. With the Unlimited and High Volume plan, you get access to priority support services. Meanwhile, other plans are limited to live chat customer support. And its resources are also helpful to beginners who want to gain more tax knowledge.

TokenTax
TokenTax
TokenTax

Best for Crypto Traders Transacting on Multiple Exchanges

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  • Works with margin trading accounts
  • Hands-on professional support
  • Works everywhere
  • Basic plan has limited features
  • Need Premium plan to integrate with all exchanges

TokenTax is the best crypto tax software in the USA, as well as globally, because it supports each crypto exchange and tax jurisdiction, worldwide.

It has advanced software features not found among other software, such as margin trading taxes, ad-hoc accounting, and initial public offering (IPO) tax planning. A team of certified accountants also works behind the software to provide cost-saving tactics to lower your overall tax.

When you calculate crypto taxes, TokenTax also has crypto tax software integrations to make the process easier. It doesn’t matter where you are because the app integrates with all exchanges—international tax calculations are then possible.

TokenTax is also straightforward to use. The dashboard tells you virtually every step to take to upload your data. Once that’s done, you can choose the accounting method you want to use to calculate your taxes.

This crypto trader tax software’s Basic plan costs $65.00 per tax year and records up to 500 transactions on Coinbase and Binance only. But if you trade on multiple exchanges, the Premium plan costs $199.00 per tax year and offers crypto tax software integrations on every exchange, up to 5000 transactions.

You can contact TokenTax via email, live chat, or phone. It also offers a solid resource center that helps beginners understand how to use the software. If you’re a business, you can take advantage of their affiliate programs.

ZenLedger
ZenLedger
ZenLedger

Best for Beginner Crypto Traders

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  • TurboTax software features
  • Premium customer support for free users
  • Robust tax professional support
  • Localized tax support only available in the US
  • Pricey premium offer

ZenLedger is a crypto tax reporting tool that lets you calculate cryptocurrency taxes using software that fills out forms quickly, with top-notch accuracy. If you’re a rookie in the world of crypto transactions and filing crypto taxes, then ZenLedger is best for you.

ZenLedger differentiates itself from its peers through robust customer support. Crypto tax professionals, such as tax attorneys, help ensure the correctness of your filing. It also offers a TurboTax feature, which combines all your crypto tax documentation in your yearly tax reports.

To help with cryptocurrency tax preparation, ZenLedger offers an Application Programming Interface (API) that integrates with various crypto exchanges, such as Gemini, BitMex, Bitstamp, Coinbase, and Binance. It also supports such crypto wallets as BitPay, Exodus, and Abra.

The app, itself, is extremely intuitive and easy to use. You can view all your crypto trade and transactions in one spreadsheet and use advanced reporting tools, such as crypto tax-loss harvesting.

ZenLedger offers tiered plans that have the same cryptocurrency tax reporting software features. The differences lie in the number of transactions and asset value. It has a free plan, but its features are limited. The executive package costs $399.00 and offers 1,000 transactions of up to $300,000 total asset value.

Users can reach out to the ZenLedger team via live chat, email, or phone, including SMS support. They also offer resources for absolute beginners. Affiliate programs and webinars are also a mainstay of their services.

Cointracker.io
Cointracker.io
Cointracker.io

Best for Individual Crypto Trader and Portfolio Manager

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  • Free software features cover all tracking needs
  • Tax generation Form 8949
  • API Integrates with major crypto exchanges
  • Paid API
  • Doesn’t support margin or derivatives trading

The crypto tax software of Cointracker.io offers fast monitoring and information updates for your assets and taxes. This platform excels in helping you track your investments as a portfolio manager.

Cointracker generates cryptocurrency gains and crypto tax reports using IRS Form 8949, helping you lower your taxes by harvesting losses made by crypto tokens. The app lets you automatically sync your portfolio data based on real-time market developments to give an accurate picture of your investments.

As one of the best crypto tracking app choices around, the Cointracker API integrates with big names in the industry, such as Binance, Coinbase, and Gemini.

Using the app, you can get accurate performance reports to measure your true return on investment (ROI) over time. It also allows you to see all your transactions in one place, with your profits and fees. The app, itself, is quite easy to use, thanks to its intuitive user interface.

Cointracker is also one of the leading free crypto tax software options available. Its free plan offers 200 transactions, capital gains tax form generation, and error reconciliation. And it offers an Unlimited Plan, priced individually, with a one-time payment per tax year.

Cointracker’s support center is also robust. You can reach out via their website or join their community forum to meet fellow investors and learn about their experiences using the software.

Bear.Tax
Bear.Tax
Bear.Tax

Best for Both Beginners and Professional Traders Who Want Budget-Friendly Software

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  • Integrates with traditional tax software
  • Tools for crypto accountants
  • Cheapest paid offering
  • No portfolio tracker
  • No support for margin trading and decentralized finance

Bear.Tax is a cryptocurrency tax tool in the USA that also dominates internationally. This platform is perfect for both casual traders and professional investors.

With seamless integration, this platform supports more than 50 exchanges with such traditional tax reporting software as TurboTax. As a result, using Bear.Tax feels like using your usual tax reporting tool, only it’s for crypto. The platform also has a dedicated section for accountants who handle crypto taxes on behalf of clients, making it a fund manager’s platform, too.

As a highly functional cryptocurrency and bitcoin tax software, Bear.Tax is good at creating crypto tax reports, such as those for the IRS Form 8949, short- and long-term sales reports, and TaxAct Direct Import, all of which can be generated with API and CSV format integrations.

The app’s user interface is clean and easy to use. Its smart-matching algorithm matches your deposits and withdrawals across exchanges—a feature that prevents you from unknowingly hitting a negative balance, due to mismatches.
Bear.Tax is arguably most popular for its inexpensive paid offerings. This crypto coin tax tracker has a Basic plan that costs only $10.00 per tax year. While it supports only 20 transactions, it makes up for it by supporting unlimited exchanges.

Customers can connect with Bear.Tax in various ways, including via social media and live chat. The consensus among traders is that the platform is highly useful and fast, giving them a positive experience.

Cointelli
Cointelli
Cointelli

Best for Accountants Who Need to Handle Multiple Clients’ Taxes in One Dashboard

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  • Easy to use
  • Highly secure
  • Has an auto-fix feature
  • Also works with enterprises
  • Offers signup discounts occasionally
  • Currently only available only for US taxpayers
  • Relatively new company
  • You won't be able to download the filled out forms with the free plan

Cointelli is a reliable software that will greatly facilitate planning your crypto tax savings. Due to its unique technology, it’s best suited for accountants who need to handle multiple clients’ taxes in one dashboard.

Cointelli is a crypto tax software created by CPAs that’s perfect if you want to experience both excellent engineering and top-notch advice from tax experts. It integrates with over 100 wallets, exchanges, and blockchains, too.
Cointelli currently serves US taxpayers, though it’s supposed to expand across North America, Australia, Europe, and Asia. On top of that, it supports a broad range of exchanges, such as Coinbase, Binance, and Exodus, as well as all popular programs required for tax processing like TaxAct and TurboTax.

What makes this software stand out is Cointelli’s auto-fix feature, which ensures accurate and error-free reports. If you’re an accountant, its For Accountants feature lets you manage multiple clients from one dashboard, having their crypto tax reports sent directly to your email. It’s also automated and pairs with any tax software, including Wolters Kluwer and Intuit.

Cointelli is super easy to use; you only have to follow four simple steps.
First, import your data by connecting your wallet and exchanges—you can also manually upload a CSV of your trade history—and let Cointelli process it. After that, preview your report before downloading it to be able to start sharing a copy of your report with your CPA or other tax platforms.

You can do all of this using a sleek and user-friendly dashboard that automates processes where possible, but also lets you manually fix errors or edit reports. Using Cointelli doesn’t expose you to privacy risks, and the platform is fully GDPR and CCPA compliant, all of which you can find under its Privacy Promise section.

As one of the best new crypto tax services around, you can sign up to Cointelli for free—you will only have to pay upon report download. Its For Everyone paid plan that costs $49 per tax year includes up to 100,000 transactions and gives you access to all of its features. If you have over 100,000 transactions in yearly trading volume, you can request a custom price quote.

Cointelli provides 24/7 live support from trained tax advisors that you can reach via chat or email. This is perfect if you’re a newbie who needs guidance around cryptocurrency and taxes.

TaxBit
TaxBit
TaxBit

Best for Enterprises That Deal With Crypto Taxes on Behalf of Clients

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  • Used by regulators
  • Supported by big crypto companies
  • Services for consumers and enterprises
  • Designed by CPAs and tax attorneys
  • Can be expensive
  • New in the industry

TaxBit is a crypto tax reporting platform that aims to be the best for both individual crypto traders and institutional investors. Thanks to its widely popular backers (PayPal, Coinbase Ventures, and Winklevoss Capital), TaxBit has become a go-to tax software for many.

The best feature of TaxBit is its services’ appropriateness for everyone—from the average bitcoin buyer to institutional regulators. Its goal is to be the default option for enterprises that need help to calculate cryptocurrency taxes. Among the reports it offers are tax optimization and loss harvesting. You can also track the performance of your portfolio.

As tax software for traders, TaxBit sports an extremely intuitive layout, where you can easily see your entire portfolio. You can also focus on specific transactions and get a more detailed visual. Moreover, it’s integrated with several exchanges, where it can scan and retrieve your transaction details from the trades you’ve completed.

TaxBit offers three packaged tiers: The Basic plan costs $50.00 per year for 250 transactions—offering only tax form generation. The Pro and Plus plans offer more transaction imports and advanced features, as well as portfolio performance tracking and review from a CPA.

If you need more assistance with your cryptocurrency tax preparation, you can reach out to their customer service via live chat or through their help center. They also provide such resources as blogs and FAQs to improve your tax knowledge.

How to Choose the Best Cryptocurrency Tax Software – Buyer’s Guide

When you’re searching for the best cryptocurrency tax software, knowing which software offers everything you need helps you make informed decisions.

What Is Crypto Tax Software?

Tax software is a third-party data aggregator that helps simplify the process of calculating your crypto tax return by compiling each cryptocurrency transaction from various sources. Then, they help calculate crypto taxes by using methods that follow IRS guidance. If you do your own taxes, you know how daunting this process can be—crypto tax tools make the job easier.

How Does Crypto Tax Software Work?

Crypto tax software tools work through various connections with cryptocurrency exchanges and crypto wallets. The integration between the software, exchanges, and crypto wallets helps make the process seamless:

  1. Add your exchange accounts to the software, via API or CSV files;
  2. Connect your blockchain wallets using public keys;
  3. The software then does the work—once it’s done, you can preview your capital gains or losses for the tax year;
  4. The crypto tax software lets you download the tax documents, such as Form 8949, Schedule 1, and Schedule D.

Other cryptocurrency tax software tools also let you download more comprehensive reports of your portfolio’s performance and overall transactions.

What Should You Consider When Choosing Crypto Tax Software?

Choosing the correct crypto tax software should be a priority, and it helps if you know these essential things when searching for and comparing software pieces.

Integrations

In order for the tax software and the best bitcoin platforms to communicate, integrations are necessary. This can be in the form of an API, which processes requests between the programs. Cryptocurrency tax reporting software tools often use CSV files to allow data transfer between programs.

Bandwidth

This refers to the data transfer capacity of the software. Look for software with adequate bandwidth to handle all your cryptocurrency transaction imports, especially if you’re a prolific crypto trader.

Abilities

If you’re looking for affordable tax software, keep the following essential functions in mind:

  • Compilation and organization of data: the program must import data in a standardized format and at scale.
  • Price retrieval for each asset: the data that’s imported should be sorted according to the fiat currency value of the crypto asset.
  • Formatting into crypto tax reports template: the cryptocurrency accounting software must format the tax report (after importing data) following the IRS-recommended forms, such as Form 8949.
  • Tracking current year’s gains and losses: you should be able to clearly see your gains and losses. Moreover, such gains and cryptocurrency losses must be tracked yearly to give you a clearer picture of your tax movements.
  • Capital gains and loss calculation: you should be able to see the calculation behind your gains and losses. This is necessary for a properly prepared tax filing with the IRS.

Features

Many software tools will try to woo you with flashy features, such as tax-loss harvesting and portfolio tracking. But the best crypto tracking app or program is one whose features are truly useful for your situation. So before you choose, always check if you actually need those features or if they’re unnecessary bells and whistles.

Reputation

Always double-check the notoriety or reputation of the software provider. Learn about its history and track record. Search for customer reviews or testimonials. This is extremely important because you’ll be held responsible for the errors on your tax returns, even if it was processed by software.

Security

The best cryptocurrency tax software options are those that ensure the safety of your data, whether it’s personal or transaction-related. Ask the software provider how they keep their platform safe and whether there’s any protection or guarantee for your data. Keep in mind that user data is also a hot target for cyberhackers.

Price

While free platforms are good, paying a small premium for better integrations, greater bandwidth, and reliable support is well worth the cost. Always check to see if there’s a charge per transaction or asset value and if other factors can affect your overall expenses on the software.

Customer Support

The cryptocurrency and bitcoin tax software should come with strong customer support, well-versed in tax compliance. They should know the rules and forms of the IRS and other tax regulatory bodies, and it certainly helps if those behind the platform hail from that background.

You can also check if they have taken initiatives with the IRS and IRS guidelines related to their services and the crypto space. Moreover, test how reachable the customer support team is—note their date and time availability. And read online reviews to gain more insight into their support services.

Extras

Finally, when comparing cryptocurrency tax software reviews, keep an eye on the most unique offers and extras they provide. You might want to try some of their new features, trials, and discounts.

Alternatives to Crypto Tax Software

If you’re not confident with crypto tax software tools, alternatives exist, such as:

  • Crypto CPAs or attorneys: these are tax professionals that specialize in the complex world of digital taxation and crypto regulations. They can take your data and reconcile your records.
  • Do it yourself: we know that taxes are complicated, but it is possible for you to do the calculations yourself if you have the background or if your situation is quite straightforward.

Best Crypto Tax Software at a Glance

Crypto Tax Software Standout Features Integrations Price + Subscription Best For
Koinly Advanced use cases, such as staking, lending, and decentralized finance. API/CSV Free plan

Paid plans from $49.00

Professional traders with years of experience trading.
CryptoTrader.tax Tax loss harvesting tool and TurboTax integration. API/CSV Free plan

Paid plans from $49.00

 

Crypto traders familiar with traditional tax management tools.
TokenTax Supports each exchange and tax jurisdiction, worldwide. API/CSV Paid plans from $65.00. Crypto traders transacting on multiple exchanges.
Zen Ledger Robust customer support. API/CSV Free plan

Paid plans from $49.00

Beginner crypto traders.
Cointracker.io Portfolio value tracking feature. API/CSV Free plan

Paid plans from $59.00

Individual crypto trader and portfolio manager.
Bear.tax Simplicity and integrations with traditional tax software. API/CSV Free plan

Paid plans from $10.00

Both beginners and professional traders who want budget-friendly software.
Cointelli Created by CPAs, integrates with over 100 wallets, exchanges and blockchains, and has an auto-fix feature API/CSV Free plan

Paid plans from $49

 

Accountants who need to handle multiple clients in one dashboard
TaxBit Support from crypto industry leaders: PayPal and Coinbase Ventures. API/CSV Free trial on all plans

Paid plans from $50.00

Enterprises that deal with crypto taxes on behalf of clients.

Conclusion

When it comes to cryptocurrency tax preparation, the best software tools are those that provide accurate, organized, and easy compiling of data. They also should be integrated with the biggest exchanges in the world and support as many cryptocurrencies as possible. You should be able to clearly see your capital gains and losses. And in creating tax reports, they must follow the IRS formats and guidance.

FAQ

How to keep track of cryptocurrency trades?

To keep track of your cryptocurrency trades, cryptocurrency gains, losses, and taxes, it’s best to use a crypto tax software that provides portfolio tracking, on top of tax form generation. You can then monitor each of your transactions and how much you’re gaining or losing on each trade you make.

What is the best way to calculate crypto taxes?

The best way to calculate crypto taxes is by using automated tax reporting software. It can be unnerving to manually calculate your gains and losses, especially if you have hundreds of transactions. And it can be expensive to hire a crypto tax professional to do your taxes for you.

How to calculate crypto taxes on your own?

You can calculate your crypto taxes on your own by following the recommended formula used by tax experts in IRS guidelines. You can also use a crypto reporting software or tool to help you hasten the process. List all information accurately and ensure that all records are correctly reconciled.

What is the best tax software for cryptocurrency?

The best tax software for cryptocurrency is one that you can use for your crypto trades and transactions without confusion. It must also provide you with all the customer support you need in case you encounter a problem with your tax reporting efforts. And it must integrate with major exchanges.

How is bitcoin taxed?

Bitcoin is taxed as a property. Any change in its value, between your purchase and sale, is considered a capital gain or loss. It will be taxed accordingly. To help avoid confusion in determining your capital gains or losses in crypto, find the best crypto tax software for your situation.