10 Best Crypto Tax Software & Calculators – Reviewed & Ranked

10 Best Crypto Tax Software

Koinly – Best Crypto Tax Software Overall
ZenLedger – Best for Accounting Features
TokenTax – Best for Fully Automated Crypto Tax Reporting
TurboTax – Best for Ease of Use
TaxSlayer – Best for Expert Tax Assistance
H&R Block – Best for Beginners
TaxAct – Best for Customer Support
TaxBit – Best for unlimited transactions
CoinLedger – Best for frequent traders
Coinpanda – Best for Exchange Integrations

Koinly – Best Crypto Tax Software Overall

Established in 2018, Koinly simplifies the process of reporting crypto taxes, even for individuals who haven’t previously recorded their transactions. Koinly is compatible with over 400 different crypto exchanges, including prominent platforms like Binance, Coinbase, Crypto.com, and KuCoin.

The platform securely retrieves your crypto exchange history through an API connection. It operates exclusively in read-only mode and doesn’t possess the ability to make modifications to your account. Koinly supports a variety of leading crypto wallets such as MetaMask, Ledger, Trust Wallets, and Electrum. This guarantees that wallet-to-wallet transactions are accurately factored into tax calculations.

Koinly boasts access to more than a decade of cryptocurrency prices, ensuring precise cost-price calculations. Before getting started with Koinly's services confirm that your country of residence is supported by the platform.

Over 20 countries are included within their coverage area, comprising nations like the United States (US), Canada (CA), and the United Kingdom (UK), along with several European Union member states, ensuring accurate crypto tax calculation alignment according to specific reporting standards.

Koinly provides a complimentary plan that restricts users to 10,000 transactions. Nevertheless, this doesn’t encompass tax reports, necessitating individuals to complete their own filing. This functionality is of utmost importance, hence it’s advisable to select one of Koinly's paid plans.

The pricing for these plans starts as low as $49 per year for 100 transactions and goes up to $99 per year for 1,000 transactions and $179 per year for 10,000 transactions.

Pros

Recognized as the top tax software for crypto in our assessment
Accommodates a wide range of exchanges and wallets
Presence in over 20 countries ensures compliance with local tax standards
Swift tax calculations, completing the process in just 20 minutes
Supports tax harvesting strategies

Cons

The free plan doesn’t incorporate crypto tax reporting features

>> Koinly: Your Path to Stress-Free Crypto Tax Filing >>

ZenLedger – Best for Accounting Features

ZenLedger, a well-known cryptocurrency tax software, specializes in managing DeFi portfolios. Since its establishment, ZenLedger has diligently monitored and recorded over 50 billion transactions for an impressive client base of over 100,000 individuals. Its main focus lies in catering to investors who frequently utilize income tools offered by the DeFi sector, such as staking and yield farming.

The software simplifies the process of calculating taxes by effectively tracking the original cost price of tokenized rewards upon receipt.

ZenLedger can monitor capital gains and losses incurred on various DeFi platforms. It boasts seamless integration with over 400 decentralized platforms, including renowned names like 1Inch, Aave, Uniswap, and PancakeSwap.

Notably, ZenLedger covers an extensive range of over 50 blockchain standards to ensure comprehensive coverage for your entire DeFi portfolio within a given tax year.

While a free plan is available that enables users to track up to 25 transactions per year, it doesn’t include full-fledged integration with DeFi services.

For complete access to these features and thorough tax reporting capabilities covering up to 5,000 transactions annually, users must subscribe at an affordable rate of $149 per year.

Pros

Extensive compatibility with over 400 exchanges and 100 DeFi protocols.
Rapid generation of tax reports, taking only minutes to complete.
Premium support services are accessible seven days a week.
Acknowledged as the premier crypto tax software for managing DeFi income.

Cons

Full DeFi integration necessitates a minimum purchase of $149

>> ZenLedger: Your Path to Stress-Free Crypto Tax Filing >>

TokenTax – Best for Fully Automated Crypto Tax Reporting

TokenTax stands out as the top-notch cryptocurrency tax software for clients in the United States who desire a fully automated reporting process.

This remarkable software extracts and analyzes transactions and submits the necessary tax forms to the Internal Revenue Service (IRS). With TokenTax, you can effortlessly generate your report and have Form 8949 completed on your behalf.

Moreover, if you have engaged in other capital disposals throughout the year, such as stock or ETF investments, you can include them. Alternatively, if your investments solely involve cryptocurrencies, you can directly submit Form 8949 to the IRS.

It’s worth noting that while TokenTax caters primarily to US clients, its software is compatible with country and currency. However, non-US clients will receive only their crypto tax report without a completed form.

In addition to its broad reach of service users globally, I appreciate TokenTax's support for over 100 external platforms. You can conveniently import all crypto transactions using an API from renowned crypto exchanges like BitMart, Binance, Bitfinex, and Kraken.

Notably, leading crypto wallets are also supported along with decentralized exchanges. Furthermore, support is even provided for NFT marketplaces such as OpenSea.

When it comes to fees, TokexTax may appear pricier than its competitors. To illustrate, their most budget-friendly plan carries a price tag of $65 annually, but it only covers the Coinbase API.

If you wish to include other exchanges and wallets, you must shell out $199. Additionally, there's a plan tailored for professional traders, which costs $1,599.

Pros

Compatibility extended to exchanges, wallets, and NFT marketplaces
Global accessibility, supporting all countries and currencies
Seamless automation for US clients with Form 8949 completion
Non-supported platforms can still be incorporated via CSV file uploads

Cons

Lack of a free crypto tax software option
Limitation in the $65 plan, offering support exclusively for Coinbase APIs

>> TokexTax: Your Path to Stress-Free Crypto Tax Filing >>

TurboTax – Best for Ease of Use

TurboTax Crypto, offered by one of the most popular tax preparation companies, isn’t only effective for individuals looking to report their cryptocurrency transactions, but it also serves as a reliable option for those with complex overall taxes.

With TurboTax Crypto, you'll find an intuitive navigation system, helpful tooltips and frequently asked questions (FAQs), along with excellent customer support.

One standout feature is the ability to connect your third-party crypto accounts. This enables you to easily import your crypto sales directly into the program and ensure accurate tax filing.

Similar to other TurboTax options, this software allows you to seek assistance from a tax expert if needed. However, be aware that there may be an additional fee associated with this service.

It's worth noting that out of all the crypto tax products we reviewed, TurboTax Crypto stands alone in offering the capability to file your complete tax return directly through their platform.

Pros

Direct importation of crypto sales into the software for user convenience
Exclusive offering as the sole crypto tax product providing comprehensive tax return filing

Cons

Limited availability as it’s not a stand-alone product, accessible only to TurboTax filers

>> TurboTax: Your Path to Stress-Free Crypto Tax Filing >>

TaxSlayer – Best for Expert Tax Assistance

TaxSlayer simplifies the process of filing a tax return for individuals who prefer minimal assistance.

As long as you know the types of income that require reporting and the deductions and credits that can be claimed, there’s no need to go through numerous unnecessary interview screens. Instead, you can easily navigate directly to the sections that are relevant to your needs.

If further assistance is required, TaxSlayer offers software questions to guide you through the sections specific to your tax situation. There’s an option to upgrade to a higher-priced package which provides help from a tax professional.

Pros

Active-duty military personnel can file federal tax returns for free
Availability of one-on-one tax guidance for users
Free filing for student loan interest and education credits
Affordability offers one of the most cost-effective solutions for complex tax situations

Cons

Lack of synchronization with banks and brokerage accounts
The Simply Free tier doesn’t support dependent tax credits
Navigation can be more challenging compared to pricier services
Tax experts don’t prepare or review your return

>> TaxSlayer: Your Path to Stress-Free Crypto Tax Filing >>

H&R Block – Best for Beginners

H&R Block's Crypto Tax Software offers impressive features that aim to simplify the process of filing cryptocurrency taxes. It provides integration options for more than 300 popular exchanges and wallets, allowing users to import and reconcile transaction histories easily. This helps minimize errors that can occur from manual data entry.

The platform also ensures comprehensive customer support through various channels, including live chat, phone assistance, in-person appointments, and a knowledge base. Users can rely on these resources for any questions or issues they may encounter.

With the use of advanced algorithms, H&R Block's software guarantees accurate tax reporting by taking into account the latest guidelines from the IRS and relevant tax laws.

Additionally, they offer flexibility in pricing plans, Basic, Deluxe, and Premium, which are tailored to match each user's transaction volume. To provide a risk-free experience for users' peace of mind, H&R Block offers a money-back guarantee with their pricing plans.

Pros

Outstanding user experience featuring clear navigation
Context-sensitive help enhances user assistance
Thorough and understandable explanations of tax topics
Mobile apps are well-designed and highly functional
Optional fee-based expert help provides additional support

Cons

Occasional slowness in loading the platform
Some instances of excessive clicking are required for specific actions

>> H&R Block: Your Path to Stress-Free Crypto Tax Filing >>

TaxAct – Best for Customer Support

TaxAct is the ideal choice for individuals who prefer not to invest in expensive software such as H&R Block or TurboTax but are willing to pay a bit more for a user-friendly and efficient platform to file their taxes independently.

Those who are confident in navigating tax software on their own will benefit greatly from using TaxAct. All of TaxAct's plans now include free access to experts who can provide assistance and answer questions throughout the filing process. This valuable feature was introduced last year. Moreover, users also have the option to upgrade their plan and have a professional handle their tax filing for them.

Pros

Seamless navigation between sections without redundant interview questions
Free support from CPAs, enrolled agents (EAs), and tax attorneys is available for all users
Importing an electronic copy of your W-2 into the software is possible

Cons

Elevated fees for state returns when compared to competitors
Frequent offers to upgrade or upsell services
Limited mobile app filing accessibility, restricted to specific user profiles

>> TaxAct: Your Path to Stress-Free Crypto Tax Filing >>

TaxBit – Best for Unlimited Transactions

Established in 2018, TaxBit significantly emphasizes the United States, although individuals subject to comparable tax systems can also utilize its services.

In a recent shift, TaxBit modified its business structure to provide a reduced range of features while being completely free. This adjustment allows users to conduct an unlimited number of transactions without any cost.

TaxBit's crypto tax software facilitates seamless integration with specific cryptocurrency exchanges and offers self-service integrations for blockchains and wallets. Note that TaxBit doesn’t provide customer support.

Pros

Outstanding value for users
Suitable for individuals and institutions
Free services are provided for individuals and institutions
Comprehensive tax calculations for thorough financial reporting
Seamless integration with the majority of major exchanges

Cons

Limited to generating Form 8949 (additional IRS tax documents like Schedule D require manual completion)
Absence of a mobile app for on-the-go accessibility

>> TaxBit: Your Path to Stress-Free Crypto Tax Filing >>

CoinLedger – Best for Frequent Traders

CoinLedger, a widely used cryptocurrency tax software, has successfully assisted over 400,000 clients. Generating tax reports with this software involves three simple steps. The first step requires connecting your exchange and wallet data.

After a brief analysis of your transactions by CoinLedger, you’ll be presented with a draft report. If everything appears to be accurate, the final report will then be generated to outline your tax obligations for the specific year.

CoinLedger offers support for more than 100 platform integrations which include popular crypto exchanges like Kraken, Binance, Gemini, and KuCoin, among others.

However, it’s worth noting that CoinLedger is limited in terms of compatibility as it can only work with nine crypto wallets, including MetaMask Trust Wallet, Ledger Exodus, Abra Jaxx, Trezor, MyEth

While a free plan is available from CoinLedger, it doesn’t include tax reporting features. Paid programs are offered on a one-time payment basis determined by the total number of crypto transactions users make throughout their software usage.

Pros

Inclusive support for NFT transactions
The streamlined 3-step process for calculating crypto taxes annually
The trust of over 400,000 customers is a testament to the reliability
Seamless integration with various crypto exchanges, wallets, and DeFi platforms

Cons

The $199 option is limited, covering only up to 3,000 transactions

>> CoinLedger: Your Path to Stress-Free Crypto Tax Filing >>

Coinpanda – Best for Exchange Integrations

Coinpanda presents itself as a favorable choice for traders who are involved in leveraged crypto products. This sophisticated tax software is designed to handle margin accounts, leveraged tokens, and various crypto derivatives such as options and futures. Calculating taxes on these types of investment products can be overwhelming due to the numerous variables at play.

What sets Coinpanda apart is its comprehensive approach to tax calculations. In addition to considering the opening and closing prices of your leveraged trades, this software also considers financing fees and commissions.

With support for over 500 exchanges, including popular platforms like Binance, ByBit, KuCoin, and BitMEX, Coinpanda ensures you can easily integrate all your trading activity in one place.

Moreover, it extends its compatibility beyond traditional exchanges by supporting decentralized finance (DeFi) platforms like Algorand and Uniswap and over 115 wallets. Coinpanda's versatility shines through as it supports virtually all cryptocurrencies, thanks to its compatibility with 242 blockchain standards.

Additionally, this platform is even more appealing because it provides comprehensive tax reporting for more than 65 countries, including major regions such as the US, the UK, and most of Europe.

Pricing plans vary depending on the number of transactions you require assistance with, ranging from $0 for up to 25 transactions up to $189 for handling up to 3,000 transactions respectively

Pros

Recognized as the top crypto tax software for monitoring leveraged positions
Global compatibility with support for over 65 countries
Impressive 4.6/5 rating on TrustPilot, attesting to user satisfaction
Swift generation of crypto tax reports, completing the process in under 20 minutes

Cons

Limitation in the $189 plan, accommodating only up to 3,000 transactions
Portfolios with over 20,000 transactions require a custom quote, potentially complicating pricing for larger portfolios

>> Coinpanda: Your Path to Stress-Free Crypto Tax Filing >>

Our Ranking Methodology for the Best Crypto Tax Software

Price: We scrutinized pricing plans across different crypto tax software options, seeking the most budget-friendly choices and those offering the best value for your investment. We explored options for diverse investor types, from casual traders to seasoned veterans.
Supported Exchanges: We delved into the integrations offered by each platform, evaluating the number of exchanges, wallets, blockchains, and coin-tracking services they connect with. Seamless data import was vital, whether through API keys or CSV files, ensuring a streamlined experience.
Ease of Use: From initial signup to data import and final tax report generation, we evaluated the user-friendliness of each software. We sought programs that minimize complexity and make navigating the crypto tax maze as smooth as possible.
Tax Forms and Reports: All platforms generate IRS Form 8949 for capital gains and losses, but your specific needs might necessitate additional forms like Schedule C or Schedule 1. We analyzed the software's ability to accommodate your diverse reporting requirements.
Accountant Access: Once your report is ready, we assess how easily you can share it with your accountant and export data to popular tax filing software. Frictionless data transfer and collaboration with your financial professional were paramount.
Customer Service: We explored customer support options to ensure you're not stranded if questions arise. We considered user reviews, the availability of different contact methods (phone, email, chat), and the comprehensiveness of online help resources.

By carefully evaluating these factors, you can confidently choose the crypto tax software that best suits your needs and simplifies your journey through the complexities of crypto taxation.

>> Join Koinly for Crypto Tax Management >>

Best Crypto Tax Software – Buyer’s Guide

What Is Crypto Tax Software?

Crypto tax software is a valuable tool for managing your crypto transactions and calculating capital gains or losses. Whether you sell, exchange, give away, or trade your crypto assets, this software records it all.

The best crypto software seamlessly integrates with the exchange platform you use to handle your cryptocurrency. When you execute an exchange or trade, it automatically captures and logs the relevant transaction details.

Many crypto tax software options allow for manual data import as well. By exporting transactional data from your chosen crypto exchange as a CSV file, you can easily import it into the tax software of your choice.

Most crypto software programs are designed to facilitate IRS forms and US tax reporting. They keep track of transactions in a manner that aligns with US crypto tax regulations and can even generate completed tax forms at the end of the year. This ensures accurate payment of taxes owed based on applicable rules.

Why Use Crypto Tax Software?

Using crypto tax software can significantly simplify the process of managing and filing tax forms for your cryptocurrency investments. There are numerous benefits to utilizing this type of software, including:

Saves Time: Most software automates crypto record-keeping by integrating with your crypto exchange.
Helps with Complicated Tax Rules: Tax rules for cryptoassets are complicated. Crypto tax software can help ensure you’re paying the right tax each year and don’t have any nasty surprises.
Generates Tax Forms: Most crypto tax software will help you complete your year-end tax forms so you don’t have to use a specialist accountant.
Protects Your Profits: Top crypto tax software uses strategies to save you money on your tax bill. For example, you can pool similar crypto assets to offset some of your gains and losses.
Lower Risk of Being Fined: Because US tax rules are complicated, there’s a significant risk of reporting incorrect crypto assets information on your tax return if you don’t use specialist software.

How Does Crypto Tax Software Work?

Due to the distinctive characteristics of cryptocurrency, it can be challenging to monitor and manage your capital gains, losses, and income across various exchanges and wallets. Creating a manual spreadsheet to record cryptocurrency transactions can be time-consuming and labor-intensive.

Luckily, crypto tax software offers a solution that saves you valuable time and effort. Simply connect your wallets and exchanges, import your transactions, and generate a comprehensive tax report that includes all of your financial activities. This software streamlines the process by providing an aggregated overview of all transactions in one place.

>> Koinly: Your Ultimate Crypto Tax Solution >>

How to Find the Best Crypto Tax Software to Suit Your Needs

Each of the mentioned cryptocurrency tax software options has its own advantages and disadvantages. Now, let's delve into our approach to ranking the leading providers based on our research methods.

Continue reading to find the most suitable crypto tax software for your specific needs and budget.

Supported Countries

Before considering features, pricing, and other measurements, confirm that your tax domicile is accommodated. This step holds significant importance since crypto tax regulations differ across countries.

Each country imposes its own set of obligations for tax reporting, including the method for calculating cryptocurrency cost prices. Your country of residence might offer distinct advantages in terms of taxation, such as capital gains allowances.

In the 2023/24 tax year, UK residents are exempt from capital gains taxes on amounts below £6,000, but this threshold will decrease to £3,000 in 2024/25.
In Australia, a 50% reduction in capital gains tax applies to crypto assets held for more than 12 months.
According to the IRS, US traders can benefit from long-term capital gains rates, ranging from 0%, 15%, to 20%, by holding onto their crypto for over 12 months. Short-term capital gains, involving holdings of under 12 months, are subject to ordinary tax rates.

Here are only a handful of instances showcasing crypto tax statistics. The main idea is that you won’t receive a customized service if the software provider doesn’t support your country of residence.

Instead, you’ll only be given a summary of your annual profit and loss. Consequently, this could result in paying more taxes than necessary.

Platform Integration

Assessing the compatibility of crypto tax software with various platforms is the next crucial step. When we say "integrate," we refer to how the software connects with your exchanges and wallets through an Application Programming Interface (API). This integration automates the entire process, sparing you from manually inputting transactions.

The crypto tax software will import all your past trades and wallet transfers. It’ll accurately pinpoint when each transaction occurred, enabling it to assign an appropriate cost basis. However, reporting can become a cumbersome task if one of your exchange or wallet providers isn’t supported.

In such cases, you would likely have to export your transactions using a comma-separated values (CSV) file. Afterward, this CSV file can be uploaded into the crypto tax software. Not all software providers offer support for manual CSV uploads; therefore, it's essential to confirm this before proceeding further.

Tax Form Automation

To ensure a seamless experience, opt for a service that integrates with tax forms. Put simply, this means the provider will complete your tax form on your behalf, enabling you to easily submit it to your local tax authority.

For instance, if you reside in the United States, the relevant form would be IRS Form 8949. This particular form is utilized for disclosing asset disposals during the tax year.

It necessitates details such as the asset's name, dates of purchase and sale, costs and disposal prices, and total gains or losses incurred. If you have conducted numerous cryptocurrency trades, manually inputting this information can consume significant time.

>> Use Koinly for Crypto Tax Compliance >>

Support for DeFi Income

There are two types of crypto taxes. The first type is capital gains, which refers to the profit obtained from buying and selling cryptocurrencies. All crypto tax software is capable of calculating capital gains. The second type of tax applies to DeFi income tools, like staking and yield farming.

If you have used any of these tools in the past, it’s essential that your crypto tax software can handle them. This is because tax authorities typically consider DeFi rewards as income. Therefore, regardless of whether you actually dispose of the rewards, you will still be required to pay taxes on them.

Consider having accounts with leading crypto-staking platforms.
On the initial day, you earn 0.1 ETH in staking rewards, with ETH valued at $1,500. This necessitates reporting this cost price on your tax documentation.
On the second day, an additional 0.1 ETH is obtained, and with ETH valued at $1,600, you must once more include this cost price in your tax form.

Luckily, you can utilize the best crypto tax software to streamline the entire procedure. This software can compute the original cost of all DeFi rewards and determine when they were initially obtained.

Additionally, if the provider offers comprehensive assistance tailored to your specific country, it’ll abide by the appropriate accounting methodology (such as FIFO or LIFO).

Tax Loss Harvesting

For a more practical approach, we recommend selecting cryptocurrency tax software that offers tax loss harvesting functionality. By utilizing this feature, you can legally minimize your crypto taxes by the reporting regulations applicable in your jurisdiction.

If you’re unfamiliar with the concept of tax loss harvesting, allow us to explain its workings:

The cryptocurrency tax software reviews all your transactions throughout the year and assesses your existing portfolio
Based on its analysis, the software determines that you have accrued $10,000 in capital gains
However, your current holdings include $7,000 worth of Bitcoin, initially purchased for $14,000
If you decide to sell the Bitcoin, it would result in a $7,000 loss on that transaction
The $7,000 loss is eligible for offsetting against your $10,000 capital gains, effectively reducing your outstanding tax liability to $3,000

Depending on your location, it may be possible for you to immediately repurchase the cryptos you previously sold for the purpose of tax loss harvesting. This means that while you still maintain exposure to the cryptocurrencies, you have effectively locked in the capital loss for the current year.

In traditional stock trading, investors in the United States need to be cautious of something called the 'wash sale rule'.

This rule prohibits investors from selling securities to gain tax benefits and repurchasing them within 30 days after disposal. However, CNBC says this wash sale rule doesn’t apply to cryptocurrencies.

With this in mind, select crypto tax software that can suggest legally reducing or eliminating your yearly taxes. These opportunities for tax harvesting might go unnoticed if one relied solely on manual transaction analysis.

Pricing

After conducting our research, we discovered that most crypto tax software platforms have a fee structure based on the number of transactions you wish to analyze. This payment system is reasonable since it ensures that you’re only paying for what you truly need.

Nevertheless, certain providers offer limited features on their lower-priced plans. For instance, free plans may include coverage for up to 25 transactions but lack localized tax reports. In other instances, free plans have restricted exchange integration and other essential functionalities.

>> Use Crypto Tax Software of Koinly >>

Best Crypto Tax Software – Frequently Asked Questions

How Do I Keep Track of Crypto Taxes?

Track all of your cryptocurrency transactions and generate tax reports using crypto tax software. It’s advisable to manually monitor your cryptocurrency transactions to adjust any inaccurate uploads made by the software.

What Is the Best Way to File Crypto Taxes?

Before anything else, it’s crucial to grasp the process of reporting your cryptocurrency taxes. Once you have acquired this knowledge, utilizing crypto tax software can greatly assist you in generating accurate tax reports, significantly if your transaction count exceeds 100.

Is Crypto Tax Software Free?

Many crypto tax software options offer accessible functionalities, but there are additional charges for generating tax reports. Take Koinly, for instance. It provides free tracking of up to 10,000 transactions, but any requests for tax reports come with a fee.

>> Consider Using Koinly >>

Final Thoughts – Best Crypto Tax Software

Investing in cryptocurrencies involves conducting multiple transactions across different wallets and exchanges. To simplify the process of preparing tax reports and minimize errors, we’ve highlighted some prominent options currently available.

With a wide range of crypto tax software tools on the market, it can be challenging to choose the right one. That's why we have provided an overview of these options, aiming to assist you in making a well-informed decision.

As previously mentioned, each crypto tax software has its advantages and disadvantages. Some offer comprehensive forms for reporting purposes, while others provide features like tax-loss harvesting.

There may be variations in pricing that influence your choice. Regardless of which tool you ultimately select, having reliable crypto tax software will ensure that your taxation documentation is accurate and correctly reported.

>> Best Crypto Tax Software: Koinly >>

10 Best Crypto Tax Software & Calculators – Reviewed & Ranked