The Best Crypto Tax Calculators in 2022
Preparing your crypto tax reports might seem like a daunting task since the crypto industry abounds with complicated rules and regulations. To make matters worse, the legislation regarding crypto is often a subject of change by tax authorities, and a great deal of unclarity remains.
Luckily, you don’t need to do your crypto accounting manually. Some excellent crypto tax software solutions exist that automatically take care of all your crypto income tax issues. From calculating profit and gains to generating tax reports, crypto tax calculators can save you time and money.
In this article, we’ve reviewed the best cryptocurrency tax software on the market so you can choose the option that best fits your needs.
List of the Best Crypto Tax Software Tools
Accointing
Accointing offers one of the best crypto tax software tools on the market. They've built an affordable solution that automates the entire cryptocurrency tax filing process. With Accointing, you can track your portfolio, manage transactions and file your taxes.
Accointing offers users a mobile app to track all transactions on the go. The app includes a detailed coin overview, tax alerts, portfolio overview, and data importer — the software supports over 300 exchanges and wallets and any cryptocurrency. It also supports NFTs and boasts a custom token feature.
Traders and investors can connect their wallets through either CSV files or API. You can get your crypto tax reports within a few clicks, and they are available in FIFO, LIFO, and HIFO.
Accounting's intuitive dashboard gives an immediate insight into your crypto portfolio gains so that you can track your performance in real-time. What’s more, it features a tax-loss harvesting tool, which can help you save money on your tax bill and reduce your capital gains tax.
Reliable and competent customer support and a sizable library with manuals and guides traders can use to gain pro insights on crypto add further value to this excellent value-for-money app.
CoinLedger
CoinLedger is a solid crypto tax calculator for transactions made within the United States. This user-friendly app allows automatic import of your data from many crypto exchanges, including Coinbase, Kraken, and Gemini.
You don’t need to be tech-savvy to use CoinLedger, considering the platform offers a sleek interface for beginners and provides users step-by-step guides on importing their transactions.
CoinLedger features direct blockchain support and automatically pulls in NFT and Defi transactions. It generates a comprehensive tax report for every user. You can also use the tool to import all your capital gains and other taxes into TurboTax and other national tax platforms.
If you’re unsatisfied with this app, the company offers a 100% money-back guarantee. Bottom line, CoinLedger is a practical and beginner-friendly cryptocurrency tax calculator that provides portfolio tracking for all your crypto obtained through mining, staking, airdrops, forks, and gifts.
CoinTracker
CoinTracker allows users several options, such as reviewing the market value of different crypto, calculating gains and losses, and generating tax reports. The app supports 300+ exchanges and 10,000+ cryptocurrencies and is available in the US, India, UK, Canada, and Australia. It automatically downloads your crypto tax reports and enables you to export them to other tax platforms such as TurboTax and TaxAct.
CoinTracker offers a mobile app that you can use to track your assets with ease. This is an excellent option for all traders who prefer to keep an eye on their portfolio and crypto prices continuously.
Like Accointing, CoinTracker helps users save money year-round because it optimizes cost basis and features a tax-loss harvesting tool.
A downside of using CoinTracker is the lack of NFT support. Its complex website design may not be helpful for beginner investors.
ZenLedger
ZenLedger is an advanced crypto tax software that enables an automatic import of all your transactions that simplifies the tax preparation process. The algorithm uses your cryptocurrency transaction history to generate a Schedule D, which is used to calculate capital gains and losses in a tax year. It also uses your crypto trades data to generate an IRS Form 8949.
It features a straightforward interface that processes transactions without asking for files and keys, so you can easily prepare and file cryptocurrency taxes. ZenLegder offers a tax optimization tool that analyzes your trade history and provides you with a list of tax-saving opportunities. You save thousands of dollars that way. The app integrates with TurboTax and similar tax platforms.
ZenLedger uses grand unified accounting, which allows users to see their whole transaction history across all wallets and exchanges in one spreadsheet.
The platform offers excellent customer support and provides free advice to tax professionals. Advanced crypto traders will find the extensive library with articles on different crypto topics in their online help center particularly useful.
TokenTax
TokenTax is a crypto tax calculation software and a full-service crypto tax accounting firm. It features a relatively easy-to-use interface that automatically fills out users’ tax forms and syncs all their crypto wallets and accounts. Having all your data in one place, you can easily keep an eye on your crypto taxes and transactions and detect potential errors and missing data in time.
Reviewers found the tool helpful for keeping track of your crypto gains and trading performance. TokenTax has API and wallet integrations and supports margin trading and futures trading. It offers DeFi and NFT support.
Tax professionals who use TokenTax can track and preview tax liability in real-time. The app provides Ethereum gas fee reports, custom enterprise reports, and mining and stacking reports. Subscribers can make use of FIFO, LIFO, minimization and average cost tax liability calculations, and a tax loss harvesting dashboard. The app generates numerous international tax forms like FBAR, Form 8494, and Schedule D.
Bottom line, TokenTax is a good solution for investors with complex accounting needs because it offers advanced services, including high-volume transactions, cross-chain transactions, and missing cost basis.
TaxBit
TaxBit is another fairly easy-to-use crypto tax software that helps you start tracking your crypto portfolio and investment performance. It's one of the cheapest crypto tax software available on the market. TaxBit's tool was designed by CPAs and tax attorneys. Relying on automation technology to sync transaction history, the app provides you immediately with final tax report versions.
The app features a clean and user-friendly interface that gives you an insight into your tax position, capital gains, and asset balance. It also offers an excellent tax-loss harvesting feature with information about tax-saving opportunities. Based on user reviews, subscribers can expect excellent customer support.
Koinly
Koinly’s crypto tax software is popular among advanced investors and beginners alike because of its easy-to-use interface and practical and simple onboarding. Users can download all their tax documents, preview capital gains, and track crypto assets and taxes reasonably simply.
Like other tools on this list, Koinly automatically syncs all your data from across sources and helps you detect errors and issues with your crypto transactions.
This crypto tax software offers DeFi support and operates in many countries, including the US, UK, and Canada. It also supports NFT taxes, but this data must be added manually. It integrates with over 6000 coins and 50 wallets, including Electrum, Trezor, Amon, and Argent. There are also over 350 exchanges available, including Binance, Kraken, BitMex, Coinbase, and KuCoin.
Koinly is an excellent option because it’s available in many countries and significantly simplifies the process of crypto tax calculations for users. However, this tool is on the pricey side. Traders with a large number of transitions may find it costly.
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