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10 Best Crypto Tax Software Applications for 2023

Taxes in crypto are obligatory and bound around regulations. Everyone faces difficulties while filing taxes, from individuals to businesses to traders. In addition to that, there are frequent changes in laws and regulations to which everyone has to be updated. To eliminate this extra burden, many developers came up with crypto tax solutions that can help investors to file their taxes and are useful, at the same time, for understanding transactions.

Here are the best crypto tax softwares of 2023 you can consider for filing crypto taxes.

10 Best Crypto Tax Software

Multiple crypto tax softwares are available for crypto taxation and calculation, but some have provided the best features to their users. Here is the list of best tax softwares for crypto:

      1. Koinly
      2. Coin Tracking
      3. Coin Panda
      4. Accounting
      5. Token tax
      6. Zen Ledger
      7. Tax Bit
      8. Bitcoin Taxes
      9. Coin Ledger
      10. Turbo Tax

1. Koinly

It is a corporate crypto tax solution through which businesses can calculate all the taxes on various cryptocurrencies. This software uses AI technology to track all the transactions across the wallets. Koinly can be integrated with multiple cryptocurrency exchange accounts via CSV files or an API. It has a centralized dashboard which makes it easy to view the transactions, return of investment, mining, growth, staking, lending, and the overall capital gain in cryptocurrency.

Features

  • It tracks the user’s portfolio through all the wallets and shows on-time profits and losses with the liable tax.
  • Transaction data can be exported to other tax software too.
  • Data from all the sources get in sync with each other automatically/
  • This software can be connected with 353 crypto exchanges, 74 wallets, and 14 blockchain addresses.
  • Generates tax as well as capital gain reports for the user.
  • There is complete integration with the API for all the famous crypto exchanges
  • Koinly is supported in more than 20 countries.

Pros

  • Generates localized tax reports as per the country
  • User management where you can give access to your team members like an accountant to handle all the tax filing for you.
  • Koinly provides both free and paid versions; the free version makes the user familiar with their concepts while the paid one is effective and affordable
  • Provides tax filing support internationally

Cons

  • Does not have an independent tax-loss harvesting tool
  • In free plans, tax reports are not included
  • It may be expensive for traders with large annual trade volume

Pricing and the Plans

Koinly has 3 paid plans and 1 free plan.

Plan Pricing Annual Transaction File Plan Features
Free $0 10,000 Tracks the portfolio value,
Newbie $5.95 100 Overseas tax reports, Audit report and track portfolio value.
Hodler $12.02 1000 Overseas tax reports, Audit report, and track portfolio value.
Trader $22-$34 3000-10,000 Same as the above plans

 

2. Coin Tracking

It is a popular software for cryptocurrency to track and report taxes. Coin tracking provides real-time transaction tracking; any loss or gain is shown on its dashboard. It influenced the declaration and import tasks and analyzed them to make accurate tax reporting.

Features

  • Provides customizable crypto transaction reports as per the need
  • Coin Tracking shows analytical data of trades in the form of interactive charts on its dashboard.
  • It generates profit and loss report along with the audit report
  • Automatic import of data can be done through APIs
  • Real-time exchange rate gets updated on the software
  • It files the tax based on the crypto tax law of the country
  • Use of 2FA to make it secure and restore trade backups.

Pros

  • The first 25 transactions are free to use
  • They provide money back guarantee for 30 days
  • It can be operated on both mobile and web apps
  • Provides statistical and analytical data for coin trade
  • Data can be shared with the crypto tax advisor.

Cons

  • It is an accessible mode that supports imports for only two wallets
  • This software does not help ICOs
  • Personal trade backups are limited in each plan

Pricing and the Plans

Plan Pricing Annual Transaction File Plan Features
Free $0 200 2 manual imports and limited account access
Pro $12.99 3,500 Portfolio tracking and 5 auto imports
Expert $19.99 20,000 Portfolio tracking and 10 auto imports
Unlimited $69.99 Unlimited Portfolio tracking and 50 auto imports

 

3. Coin Panda

A crypto tax software solution that can make the tax report in 20 min. A comprehensive overview is generated in a report about all the cryptocurrency transactions and the taxable gains. It also provides a preview of a free tax report for the users to get an idea. This software is supported in more than 65 countries.

 

Features

  • Provides crypto tax reports of capital gain, margin trading, and staking
  • Generates better portfolio tracking for trade insights to maximize the profit
  • It supports and works with 800+ exchanges and wallets.
  • Automation of profit and loss calculation.
  • Easily create reports which comply with local tax laws and authoritative bodies.
  • Capital gain reports are provided in PDF format with an easy breakdown of all the transactions.
  • All the transactions can be imported to this software for collective tax calculation.

Pros

  • A wide range of imports can be done from exchanges and wallets
  • Tax reporting is country-specific and law specific
  • It supports donations and lost coins too.
  • Reporting of tax is quick and accurate with transaction details.
  • Also, specify the end-of-year holding reports.

Cons

  • Transactions need to be added manually
  • Import from various wallets shows errors sometimes
  • During multiple transaction sorting, sometimes the crypto amount differs

Pricing and the Plans

Plan Pricing Annual Transaction File Plan Features
Free $0 25 Unlimited exchanges, Tax report preview
Hodler $49 100 All tax reports, email support, no limit exchanges
Trader $99 1000 All tax reports, live chat support, unlimited exchanges
Pro $189 3000+ All tax report, priority support, live chat support, all exchanges with no limits

 

4. Accointing

This software provides tools to analyze the market and track the portfolio. It is a crypto tracking as well as tax reporting software. Accointing gives tax reports and offers tax loss harvesting so users can file their taxes easily.

 

Features

  • Provides tools to analyze your portfolio to improve your future moves.
  • One can explore the crypto market before performing any functions by themselves.
  • Gains and losses are easy to calculate through their crypto tax tools.
  • The tax reports they generate are easily downloadable for future tax filing purposes.
  • Its tax loss harvesting feature is unique and helpful to its users.
  • It generates price alerts whenever there are market changes.
  • With accounting, users can share their portfolio allocation with their friends through social media.

Pros

  • One main advantage is getting crypto tax expert support through this platform.
  • Supports a large number of exchanges and wallets by integrating with them.
  • The setup is relatively easy, and the software is supported on mobile and desktop.
  • It can track the entire crypto profile from all the assets together.
  • Users can compare their marketing profile with the other users of this platform.

Cons

  • The priority support function is only in the pro plan
  • It generates all the tax forms with a report but only files them manually.
  • To create the tax reports, the transactions should be less than 50,000.

Pricing and the Plans

Plan Pricing Annual Transaction File Plan Features
Free $0 25 Portfolio tracking and tax reports previews.
Hobbyist $78.21 500 Can manually adjust the pricing details of an asset
Trader $197.01 5,000 Integrates with other tax filing platforms for varied options, support in all the tax handling transactions.
Pro $296.01 50,000 Priority support function, which Provides transaction history in form of csv files.

 

5. Token Tax

Token tax is considerable in the market as it combines technology with human experts. A crypto tax accounting firm also provides crypto tax software solutions for calculation. This is integrated with exchanges, protocols, and wallets.

Features

  • It provides audit assistance to its users.
  • Syncs with the data of wallet and accounts that will eliminate manual data entry.
  • One can view their tax reports in real-time and make edits if required.
  • The software automatically generates all the tax forms to complete the filling process.
  • Users who have high transaction volume get advanced reconciliation services
  • It supports almost all the exchange services in crypto.
  • Automatically integrate with all the transaction channels to get your data in place.

Pros

  • There is margin and futures trading support provided in this software
  • It quickly finds and fixes missing data and errors.
  • Has a different dashboard for tax loss harvesting.
  • Income reports of mining and staking are generated on a timely basis.
  • For tax filing, it creates international forms with a full-filling add-on.

Cons

  • There are no free trials on this platform
  • The basic plan which they provide has limited features to use

Pricing and the Plans

Plan Pricing Annual Transaction File Plan Features
Basic $65 500 Support Coinbase, and it’s Pro API only
Premium $199 5,000 It supports all the centralized exchanges with optional features of margin data processing.
VIP $3499 30,000 CEX Advance crypto reconciliation with custom transaction counts

 

6. Zen Ledger

It is crypto tax software that supports integration with more than 400 exchanges. The services are simple to understand and provide simplified crypto tax services to investors and tax professionals. This software includes 30+DeFi protocols.

 

Features

  • It calculates the profit and losses based on all the transaction history.
  • This software integrates its users with TurboTax.
  • With all of its plans, it gives the feature of a tax pro.
  • Includes tax loss harvesting tools and unified accounting reports.
  • All the transaction records are kept in a spreadsheet for easy access.
  • For privacy and security, it offers 2FA.
  • Enables trade tracking so users don’t have to overpay their crypto taxes.

Pros

  • The charges are based on the number of transactions done by the user.
  • High-end customers support decentralized applications.
  • They have tax professionals who help customers throughout their tax filing process.
  • Navigating complex transactions on crypto is done by effective means.
  • Manual corrections can be done if there is an issue understanding the generated report.

Cons

  • The prices are on the higher side, considering the entry-level professional assistance.
  • It only supports some countries.
  • Complex tax problems may get disturbed due to uncleared rules.

Pricing and the Plan

Plan Pricing Annual Transaction File Plan Features
Free $0 25 Provide audit reports but no premium support
Starter $49 100 Detailed report of transactions with all the required crypto tax tools.
Premium $149 5,000 Staking and DeFi features with all the detailed reports.
Executive $399 15,000 Same features as the premium plan with increased transactions.
Platinum $999 Unlimited This plan includes all the features of other plans and an additional 2-hour premium support of a dedicated tax agent.

 

7. Tax Bit

Tax bit works over the automation technology that syncs your data and provides the final tax reports. It is a crypto tax solution founded by CPAs and tax attorneys. They established the tax bit for customers who wanted to transform their 1099s into crypto tax reports.

 

Features

  • Supports multiple currencies and exchanges.
  • Transaction reports can be exported to the required format.
  • A multifunctional dashboard signifies the tax position, asset balance, and unrealized profits and losses.
  • Analysis features for portfolio performance and tax loss harvesting.
  • Provides independent annual audits with a robust and controlled framework.
  • It has end-to-end data capture features and reconciliation in a single platform.
  • Real-time access to all the users, whether they do internal or external wallet transactions.

Pros

  • Users can create IRS tax filing forms with the help of their AI tools.
  • API-powered platform of Taxbit conducts both tax compliance and reporting
  • The rules-based automation streamlines digital asset accounting.
  • The tax calculation engine provides the self-served analysis.
  • Provides solutions to enterprises and the public sector.

Cons

  • There is manual formatting for the CSV files.
  • The feature of auto-sync reporting is limited.
  • Cost-basis transactions get flagged up over the missing cost in any payment.

Pricing and the Plan

Plan Pricing Annual Transaction File Plan Features
Free $0 25 70+ exchanges, 400+ digital platforms, Tax forms of running years.
Basic $50 250 All the perks of free plan with the tax forms for different platforms and historic tax forms too.
Plus $175 2,500 Custom supports for the CSV uploads, Tax loss harvesting portfolio performance suite
Pro $500 25,000 All the above perks and CPA review with IRS Audit Support.

 

8. Bitcoin Taxes

This software helps verify the capital gains and losses so that the user can easily file the taxes. Manual updates on transactions are included in their software with other cryptos from different wallets and exchanges.

 

Features

  • It calculates all the capital gains and losses in a financial year.
  • Offers complete tax preparation services that can do all the work from reporting to filling.
  • Tax planning advice is provided by their professionals.
  • Serves as a representative in front of legal organizations to solve any query related to the case.
  • Income reports are based on all the calculated and mined values.
  • The closing information includes the final losses and gains that are required for filing the taxes.
  • Supports global fiat currencies to validate the required tax amount and transaction value.

Pros

  • Import CSV files and track all the transaction reports from various exchanges and their wallets.
  • It generates separate reports for all income, donations, and capital gain.
  • The tax reports are in TurboTax TXF format.
  • It is compatible with multiple cryptocurrencies from various countries.
  • Provides a report of balanced cost after the tax transactions are completed.

Cons

  • Features are limited in the non-premium accounts.
  • The free version allows minimal transactions and restricts report generation.
  • Sometimes, the data sources need to be included within most of the data.

Pricing and the Plan

Plan Pricing Annual Transaction File Plan Features
Free $0 20 In these plans all the standard features are present with email support too.
Premium $44.95 1,000 The prices exceed the transaction files with similar features.
Premium Extra $54.95 5,000
Deluxe $64.95 10,000
Trader(50K) $139 50,000
Trader(100K) $199 100,000
trader(250K) $264 250,000
Trader (500 ) 399 500,000
Trader (1 M) 529 1,000,000

 

9. Coin Ledger

Multiple suite of products allow the users to understand their crypto portfolio. Through this, it will be easy for them to download the required tax form. It simplifies the holdings a customer has and helps in managing tax payments.

 

Features

  • This includes tax software through which transactions can be reported in minutes.
  • Crypto holdings can be tracked with the help of their free portfolio tracker.
  • It analyzes the whole portfolio and then finds out the most tax-saving opportunity..
  • The generated tax reports can be published in multiple channels of the user’s choice.
  • All the wallets and exchanges can be imported to the software in just a few clicks.
  • Although manual changes are possible, it classifies the transaction history into appropriate tax treatment.
  • The historical pricing engine tracks the cost based on the assets moved from one wallet to another.

Pros

  • Multiple tax software is integrated with the platform
  • Automatically matches the data of tax reports to the format of tax filing software.
  • Combined with many centralized crypto exchanges for smooth data transfer.
  • Data history can be uploaded to the system as CSV files.
  • Public wallet addresses can be used to import data.

Cons

  • If all the wallets are not linked, then it may show the error of missing data sources.
  • If some exchanges have unsupported chains, then the data must be manually added in the form of CSV files.

Pricing and the Plan

Plan Pricing Annual Transaction File Plan Features
Free $0 Unlimited It includes core features like transaction and portfolio tracking
Hobbyist $49 100 Core features with included tax reports, data imports and tax software Integrations
Investor $99 1,000 Similar to the hobbyist plan with increased no. of transaction files.
Unlimited $199 3,000+ Same as above with increased limit of transaction files.

 

10. Turbo Tax

They are leading Tax preparation software that allows one to file all the taxes accurately. The interface of turbo tax is user-friendly and easy processing of electronic tax filing. Users can take their tax experts’ help and file the reports individually.

 

Features

  • It analyzes the situation and enables most tax deductions and credits.
  • Data can be imported or exported in API or CSV file formats.
  • Supports long trails of audits, short and long capital gain calculations, and cash flow analysis.
  • Their experts will file tax on your behalf, and the same is conveyed through email when the returns are generated.
  • 100% accurate results as they abide by the latest tax laws.
  • All the tools are included, which are required to complete the tax returns.
  • Turbo tax includes all the free software required for tax preparation services.

Pros

  • Calculation accuracy is guaranteed from their end.
  • Turbo tax experts make sure to provide topic-specific tax advice.
  • Trying for the free option is quite helpful to identify the process flow they follow.
  • Different expenses can be categorized in an area to finalize the tax files.
  • The software is relatively easy for the users to understand and input their data.

Cons

  • Sometimes, there are errors in the IRS letters, which can lead to penalties.
  • The user input part of the software is easy, but the analytics are required to be learned.
  • There is a slight possibility of missing the deductions.

Pricing and the Plans

Plan Pricing Plan Specification Plan Features
Turbotax $0-119 Do your Own taxes Tax forms are provided, Guide in filling the accurate form
Assisted $0-209 Experts help in taxes Connected with the tax expert live, They help in identifying and rectifying the errors in taxes.
Full Service $209-399 They do the taxes for us Work with the expert in real-time; they find all the relevant transactions and get the work done.

 

Conclusion

In this article, we have seen the best crypto tax software solution that helps in tax report generation and tax filing process. Some of the crypto tax tools in this software are open source, and others are easily available in paid versions.

After trying the accessible version of a particular software, it is easy for the users to identify which is the best crypto tax calculator for them. There are many features that a client can get from these softwares and the tools integrated with them. If you are an individual or a firm, try these softwares and make your tax filing a breeze.

To know more about how to file a crypto taxes, there are various procedures to file crypto taxes in the US and for that, these software will be helpful.

What is crypto tax software?

It is an automated software that integrates with the crypto exchanges and wallets to import transaction data and utilize it to generate tax reports.

Because they tracks, manage, and calculates the profits & loss related to the crypto transaction and automates the tax filing process.

Some of the free software also calculates your estimated crypto taxes while other needs all your information prior to calculating and generating the crypto tax reports.

Automated software that complies with the tax laws of the geography is the easiest way to calculate crypto taxes.

To report your crypto activity individuals can use Form 1040 Schedule D as per the crypto tax form. You can follow our comprehensive crypto tax guide to learn about it in detail.

Speed Team

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