Cryptocurrency tax softwares help individuals keep track of their taxable events and ensure they’re compliant. They also produce tax reports for users.
Most of these platforms connect to exchanges and wallets, storing all data from them. They then format this into tax report templates like Form 8949 (U.S. filing) and Form 1040.
Accointing
Accointing is one of the best crypto tax software solutions out there. The platform has all the features you need to manage and file your client’s digital assets efficiently and painlessly. The platform is available for cloud, desktop, and mobile platforms. The best part is that it only costs a fraction of what you’d pay for similar services from your favorite accounting firm. The app is a must-have for any serious crypto aficionado!
The best part is that you can use it to track, monitor, and analyze your digital assets at any time of day or night. It is even compatible with some of the most popular exchanges. Unlike most tax octet software, the company allows you to link multiple wallets and exchanges so your taxable and nontaxable assets are in sync. The company also allows you to automate your portfolio tracking and review. Moreover, the company is available around the clock with live chat and email support.
CoinTracker
CoinTracker is a crypto portfolio and tax manager designed for crypto accountants and investors who need a complete solution. It automatically syncs and organizes your transactions, displays progress on a uniform dashboard and simplifies filing crypto taxes.
The platform is also capable of importing data from multiple exchanges and wallets, allowing users to track their investments and make accurate tax calculations. In addition, it offers a preview tax impact feature that can be used to assess the potential tax implications of new trades.
To use CoinTracker, you need to provide the platform with access to your cryptocurrencies and the exchanges you trade on. This can be done through an API or manually via a downloadable export file.
The software provides four tax tiers, each tailored for different levels of activity and transaction types. The Professional plan, for example, is designed to cater to traders who have facilitated more than 1,000 transactions during the tax year. It also includes support for decentralized finance (DeFi) and margin trading.
Koinly
Koinly is a crypto tax software that aims to simplify the process of filing cryptocurrency taxes. The app has a range of features designed to help users track their investments and generate relevant tax reports for filing purposes.
Whether you use Koinly to connect hardware wallets like Ledger or Trezor devices, or to sync data from software-based crypto wallets and exchange accounts, you can get a complete view of all your trading activities in a single platform. It also allows you to import data via API and CSV files.
It supports over 6,000 blockchains and 350 crypto exchanges, and has native support for major cryptocurrencies such as Bitcoin and Ethereum. Moreover, it offers a smart transfer matching feature for advanced crypto activities such as margin trading, borrowing and lending.
The service also focuses on helping users to automate the collection of all the necessary tax forms, including Form 8949 and Schedule D reports. It also provides free guides to help you understand the complexities of crypto taxation, and has a team of tax professionals available to chat with.
ZenLedger
ZenLedger is a well-rounded crypto tax platform that offers a variety of features and support for multiple cryptocurrencies. Its flexible tax software helps investors track transactions across exchanges, wallets, and blockchains to simplify the process of reporting taxes on their crypto portfolio.
The software enables users to easily import historical transaction data from exchanges or wallets, and then automatically computes gains and losses for each crypto asset. It also allows for direct TurboTax integration, so clients can easily transfer their final tax calculations to TurboTax to file their taxes accordingly.
Moreover, ZenLedger supports more than 400 exchanges and 30 DeFi protocols, which is great for crypto investors looking to keep track of their crypto assets. The service is easy to use and offers 24/7 customer support, making it a reliable choice for anyone looking to manage their crypto portfolio.
In addition to its multiple tiers of subscription, ZenLedger also offers a preferred Professional Prepared Plan, which connects users to crypto tax professionals (Tax Attorneys, CPA’s and Enrolled Agents) to complete their taxes. These plans vary in cost based on the level of complexity required, with a 30-minute consultation starting at $295.
