The number of people investing in crypto is rapidly increasing. It is because crypto can briefly make you a millionaire or even a billionaire. We have seen several examples all over the world.
However, paying taxes on the trades you make with crypto exchanges may become a complex process. If you are a crypto trader, you must have completed several transactions in a year. Everyone can’t keep track of these transactions and then calculate net profit and loss.
This is when the need for well-performing and easy-to-use crypto tax software occurs. You can use crypto tax software to make this task easier for you. This software automatically syncs across crypto exchanges and wallets, calculates capital gains and losses, and provides final results. In addition, crypto tax software also makes it simple to calculate and file your crypto taxes.
The following is a handpicked series of the Best Crypto Tax Software, including their features and key statistics.
7 Best Crypto Tax Software
1. Koinly
Koinly is the best crypto tax software. It easily connects your wallets, exchanges, blockchain addresses, and services to provide a clear picture of your invested money across multiple platforms. This software makes tax calculations easy by calculating the tax liability in just a few clicks. It is compatible with 353 cryptocurrency exchanges, 74 wallets, and 14 blockchain addresses. In addition, the results you get at the end are easily transferable from other tax software. even you can use the koinly Coupon Code, and you will get great offers and discounts.
What makes it stand out:
- Sync your data from all sources automatically.
- You can export your transaction data to other tax software.
- Tracks your portfolio across wallets and accounts
- Displays real-time profit, loss, and tax liabilities.
- Affordable premium plans
- International tax filing is available
2. Accointing
Accointing is a cryptocurrency tracking and tax reporting software. It provides tools to track the market, analyse your portfolio, and harvest tax loss. Additionally, it includes tax reports to make tax filing easier for you.
Since it only supports tax reporting for 25 transactions, its free version is very useful for novice traders.
What makes it stand out:
- Best tools for portfolio analysis
- Lets you investigate the cryptocurrency market.
- It helps to determine your profits and losses.
- Generate easy-to-understand tax reports
- You can use this crypto software on desktop and mobile.
- Integrates with more than 300 different wallets and exchanges
3. TokenTax
TokenTax is a tax software which helps calculate complex taxes for your crypto exchanges to file your taxes. The software’s automation features make tax reporting extremely simple and convenient. TokenTax is a crypto filing tax software that can calculate and file your taxes. It is an excellent piece of crypto accounting software which makes tax filing easy.
What makes it stand out:
- Provides audit assistance
- Every exchange is available.
- Automatically merges with businesses to collect your data.
- Seek the aid of a crypto accountant.
- It can both calculate and file your taxes.
- Tax-loss harvesting software.
- Support more than 85 exchanges
4. ZenLedger
ZenLedger is a crypto tax software that supports integration with more than 400 exchanges, including more than 30 DeFi Protocols. ZenLedger offers its crypto tax simplifying services to investors and tax professionals.
In addition, it also offers a free plan with access to a tax expert. With this free plan, you can keep track of around 25 transactions. For people who hold their assets, it might be a wise choice.
What makes it stand out:
- Use your transaction history to determine crypto gains and losses.
- It provides access to a tax expert.
- Best tax loss harvesting tool
- Charges depend on the number of transactions.
- Available at pocket-friendly prices
5. TaxBit
TaxBit is the best crypto tax solution for individuals who want to convert their 1099s and other data into crypto tax reports. It is also beneficial for those businesses that must issue 1099s. This software provides automation technology that syncs your data and quickly generates final tax reports.
Moreover, it is an easy-to-use crypto tax tool that greatly helps users with crypto taxation. Best of all, it automatically syncs your transactions from various exchanges and generates tax reports with zero hardship.
What makes it stand out:
- Supports more than 150 exchanges & 2000+ currencies.
- Allows you to export transaction reports.
- Display tax situation, asset balances, and unrealised profits/losses.
- It offers tax loss harvesting & portfolio performance analysis.
- Reliable customer support service
6. Cointracking
Contracting is a well-known crypto tracking and tax reporting software. This crypto tax software is famous for its easy-to-use features and outstanding results. It offers a tonne of great features for tax reporting and market analysis. You can import your crypto transactions using automation features and get details on market trends for 12,033 different coins. Here you can also get a free version of the software, which supports 200 transactions for tracking.
What makes it stand out:
- It also offers tools to study coin trends for trading
- It provides profit and loss statements.
- Allows you to send tax reports to CPSs or tax offices.
- It provides tutorials in the form of FAQs and videos.
- Tax reporting for cryptocurrency traders and companies
- It supports over 5,000 different coins.
- It offers portfolio tracking and detailed charting.
- Available on both Android and iOS
7. BitcoinTaxes
BitcoinTaxes helps you determine your capital gains and losses to file your taxes. It is a widely popular crypto tax software that provides a variety of pricing plans that match your budget. It also connects you to a crypto tax professional who can advise you on how to enter Bitcoin crypto trades.
What makes it stand out:
- Make a list of your capital gains and losses.
- It also provides full-service tax preparation.
- Seek the advice of a tax professional for better tax planning
- It makes tax filing more accessible and more convenient
- It creates capital gains, income, donation, and closing reports.
- Form 8949, TaxACT, and TurboTax TXF formats are available.
Final Thoughts: Best Crypto Tax Software
Crypto exchanges are rapidly growing worldwide. The primary reason for this vast popularity is the high possibility of making large profits with minor investments. However, if you trade in crypto, you must pay taxes and accurately calculate your capital gains and losses.
This may become a difficult task to complete. However, the crypto mentioned above software makes this task simple and convenient. With their help, you can obtain tax reports in minutes and effectively increase your investing skills. So, select the best suitable crypto tax software for your needs and enhance your crypto investment experience.
