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Fortunly's Guide

Best Crypto Tax Software Solutions Reviewed

By
Julija A.

June 21,2022


Some or all of the products/services listed on this page are from our affiliate partners from which we receive commissions. This, however, does not influence the evaluations in our reviews. Learn more by reading our Advertiser Disclosure.

Keeping track of your crypto activity for tax purposes can be almost as painful as having your most promising altcoin take a sudden dive. After all, from mining to trading, you have to report every crypto transaction you make to the IRS. That’s a lot of data you need to keep on hand.

Luckily, there’s some help to be found: the best crypto tax software can automate this task for you and provide you with ready-to-file paperwork. We’ve done the research for you, so let’s see which software could be the right one to help you with your crypto taxes.

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Best for: automating tax reports

Koinly

Koinly Logo
OVERVIEW

Koinly is undoubtedly the most feature-rich cryptocurrency tax software on our list. Not only can this tool provide you with accurate reports, but it has multiple features to help you ensure you are not paying a cent over what’s strictly necessary. The first useful feature you should know about is its automated data importing. Since it integrates with many exchanges and wallets, it is unlikely that any transaction record will fall through the cracks. Once the data is imported, it allows you to track every fee and reconcile the information on your report and exchanges in a couple of clicks. It also provides you with advanced transaction filtering. You can use it to quickly see which transactions resulted in the highest gains and set notifications regarding your balance. Not only does it provide more than enough features for you to DIY your taxes in the most effective manner, but this tool is also reasonably inexpensive. Its free plan supports up to 10,000 transactions. However, it won’t allow you to export your cryptocurrency tax reports for free. For that, you would need to sign up for one of Koinly’s paid plans, all priced for one tax year, which start at $49 for up to 100 transactions, $99 for up to 1,000 transactions, $179 for up to 3,000 transactions, and $279 for over 10,000 of them.

  • Automated data importing
  • Tools for top-notch error reconciliation
  • Connects you with tax specialists from five countries
Learn More
On Official Website
Starting price:
$0
Number of transactions:
Up to 10,000 with the free plan
Integrations:
Yes
Free Trial:
Yes
Best for: calculating your crypto taxes

CoinLedger

CoinLedger Logo
OVERVIEW

CoinLedger (formerly CryptoTrader.Tax) is an excellent crypto tax calculator that can help you crunch all the numbers for your crypto dues and turn them into reports you can file with the IRS. It will have you covered for all the documents you might need. You can also effortlessly create the IRS 8949 form, short and long-term sales reports, crypto income reports, international gain/loss reports, and much more. This handy tax software even offers tax-loss harvesting - a welcome feature, indeed. CoinLedger is straightforward to use and offers very accurate data. It integrates with TurboTax and TaxDirect, as well as 100 crypto exchanges and the most popular wallets. It supports Ethereum blockchain and NFT transactions. The price is very affordable, and you can test this calculator for free. If you want to preview or download your reports, you’ll have to sign up for one of its pricing tiers - the basic one, called Hobbyist, costs $49 per tax year. The next tier is Day Trader, at $99/tax year for 1,500 trades, and the High Volume tier costs $199/tax year for 5,000 trades. If you trade more than that, then the Unlimited plan, starting at $299/tax year, might be the right one for you.

  • Affordable
  • Straightforward crypto tax calculator
  • Excellent integrations
Learn More
On Official Website
Starting price:
$49 per tax year
Number of transactions:
Starts from 100 transactions
Integrations:
Yes
Free Trial:
Yes
Best for: complex tax calculations

CryptoTaxCalculator

CryptoTaxCalculator Logo
OVERVIEW

If you need help calculating your taxes on crypto as accurately as possible, you might find CryptoTaxCalculator to be a godsend. Not only does this software integrate seamlessly with many popular exchanges, but it also uses the data to offer very detailed calculations. This tool even considers parameters such as airdrops, staking, mining, DeFi staking rewards, and ICO participation. Its algorithm will calculate these and generate tax reports for you. These will clearly outline your realized capital gains and income. From there, you can effortlessly import the data into your tax software or forward it to your accountant. You also want to go with CryptoTaxCalculator if you are outside the US. It supports countries such as Greece, Japan, Portugal, the UK, and many others. Many new countries will likely be added to the list in the years to come. Furthermore, its pricing is relatively inexpensive. The Rookie plan starts at $49 and covers up to 100 transactions over one tax year. The Hobbyist plan costs $99 per tax year (up to 1,000 transactions), the Investor plan costs $189 per tax year (up to 10,000 transactions), and the most expensive plan is Trader, for $299 per tax year, and covering up to 100,000 transactions.

  • Most detailed tax calculations
  • A lot of countries supported
  • On-chain transactions support
Learn More
On Official Website
Starting price:
$49
Number of transactions:
Up to 100 with the cheapest plan
Integrations:
Yes
Free Trial:
Yes
Best for: integrations with popular exchanges

TokenTax

TokenTax Logo
OVERVIEW

TokenTax is another excellent piece of crypto tax software you can entrust with handling your taxes. This tool offers to take a solid selection of crypto tax reports off your plate, including IRS Form 8949. It can also help you with crypto income tax, generate a cryptocurrency audit trail, and international gain/loss reports. Like many other solutions on this list, it can also help with tax-loss harvesting and offers margin trading support. The main reason TokenTax stands out from the competition is that it offers crypto tax services. You can rely not only on its software but also on its cryptocurrency tax filing team. This team is also available to help you with any tax-related task; all you have to do is send them a message. Unfortunately, the company doesn’t offer a free trial. You can start with the Basic plan, which costs $65/tax year for up to 500 transactions, or go with one of the higher tiers: Premium ($199/tax year; up to 5,000 transactions), Pro ($799/tax year; up to 20,000 transactions), or VIP ($3,499/tax year; up to 30,000 transactions).

  • Excellent customer support
  • Numerous integration options
  • International trading tax support
Learn More
On Official Website
Starting price:
$65 per tax year
Number of transactions:
Up to 30,000 transactions (VIP Plan)
Integrations:
Yes
Free Trial:
No
Best for: novice cryptoholders

Accointing.com

Accointing.com Logo
OVERVIEW

Accointing.com is a Switzerland-based top crypto tax software solution that aims to simplify the management of your crypto taxes with seamless integrations that enable you to straightforwardly import all your transactions. It’s well-known for its user-friendly interface and intuitive crypto data organization beginners will surely appreciate. Another thing novice users can benefit from is the well-organized cryptocurrency tax blog, with informative step-by-step platform guides. The smooth upload process further simplifies your crypto tax filing. Aside from its easy-to-use dashboard and the fact it supports over 300 wallets and exchanges, Accointing.com offers top-notch crypto tax tracking tools and a cryptocurrency tax calculator compliant with IRS requirements. In addition to the US version of the calculator, the UK, Australian, Swiss, German, and Austrian versions are also available and can calculate users’ taxes in accordance with those countries’ regulations. All Accointing.com plans give you access to a crypto tracking dashboard, a crypto tax-loss harvesting tool, and a crypto tracker app. There’s a free plan, but it only covers 25 transactions per year. The paid plans range from $79 for up to 500 total transactions in your tax report (Hobbyist) to $199 for up to 5,000 transactions (Trader) and $299 for up to 50,000 transactions (Pro).

  • Intuitive dashboard
  • More than 300 crypto wallets and exchanges
  • Tax-loss harvesting tool
Learn More
On Official Website
Starting price:
$0
Number of transactions:
Up to 50,000 with the Pro plan
Integrations:
Yes
Free trial:
Yes
Best for: accurate historical pricing tracking

Bear.Tax

Bear.Tax Logo
OVERVIEW

Bear.Tax is another solid choice among these platforms, bound to help you figure out your taxes. It has all the needed features for you to calculate your crypto taxes. It offers data importing from all available exchanges. From there, it pushes the received information through top-of-the-shelf gain/loss calculators. Its intelligent matching algorithm can help you identify transactions that are not taxable instead of simply adding them to your reports. It also offers the most accurate historical pricing. This is a feature that differentiates it from the competition. Professional traders will most certainly appreciate it when the time comes to tackle cryptocurrency taxes. However, this tool excels as software for accountants looking to take on more clients and their crypto taxes in the most efficient manner. Unlike some other solutions, this one allows your clients to maintain their privacy without compromising the quality of their reports. The basic plan for this tool costs $49 per year for up to 200 transactions. The next tier costs $149 per year for up to 25,000 transactions, and the top-tier plan will cost you $499 per year for 1,000,000 transactions.

  • A platform built by traders and accounting professionals
  • 24/7 customer support
  • Excellent software for tax professionals
Learn More
On Official Website
Starting price:
$0
Number of transactions:
Up to 20 with the free plan
Integrations:
Yes
Free Trial:
Yes
Best for: tax professionals

ZenLedger

ZenLedger Logo
OVERVIEW

ZenLedger is another excellent solution for handling both your or your clients' taxes on cryptocurrency. This solution can help you cover all types of reports you might encounter. It covers all the tax forms you might need to file or have on hand. It can help you handle the math required to report capital gains and losses. It also offers Grand Unified Accounting - a proprietary ZenLedger feature. It allows you to see all your transactions from multiple wallets and exchanges within a single easy-to-understand spreadsheet. ZenLedger is one of those providers that can help you with your non-crypto taxes as well. It has prepared plans for handling both types of taxes for you. This solution also offers a professional tax suite. It is an excellent choice for professionals looking to provide crypto tax services to their clients. If you are unsure whether ZenLedger is the right solution for you, you can take advantage of its free plan, covering up to 25 transactions. The next tier is called Starter, and it costs $49 per tax year for up to 100 transactions. You can also sign up for Premium, Executive, and Platinum plans, which cost $149, $399, and $999 per tax year, respectively. It is also currently offering a 20% discount for new users and an additional 20% discount if you purchase more than one year’s worth of subscriptions. When combined, these discounts are making it one of the most affordable crypto accounting software on this list.

  • Excellent discounts
  • Great selection of integrations
  • All IRS-required forms available
Learn More
On Official Website
Starting price:
$0
Number of transactions:
Starting from up to 25
Integrations:
Yes
Free Trial:
Yes
Best for: upfront tax planning

TaxBit

TaxBit Logo
OVERVIEW

If you aren’t feeling up to paying a lot for crypto tax software, and are willing to plan ahead, TaxBit might be the right choice for you. Within its free plan, you can add unlimited transactions and prepare your tax reports for free - provided that you have been using the services of one of more than 500 companies within the TaxBit Network Partners program. TaxBit’s free plan will cover most traders’ basic needs, but if yours surpass that, you’ll have to sign up for one of its paid plans, all of which support unlimited transactions and wallet addresses. The first paid plan, Basic, starts at $50 per year and allows both historical tax forms and out-of-network transactions. The next tier, Plus+, costs $175 per year; finally, Pro costs $500 per year.

  • Easy-to-use dashboard
  • NFT suite
  • Unlimited transactions with free plan
Learn More
On Official Website
Starting price:
$0
Number of transactions:
Unlimited
Integrations:
Yes
Free trial:
Yes
Best for: low transaction volume

Bitcoin Taxes

Bitcoin Taxes Logo
OVERVIEW

This crypto tax software is probably one of the most straightforward tools you can use to calculate your taxes, and it’s definitely the most affordable. For a fraction of the prices found with other providers on this list, Bitcoin Taxes can import your trades from almost every popular exchange, calculate your capital gains, and export the reports in the format you need to file your taxes. Its website is also very comprehensive, answering all your questions upfront. It offers multi-year support, covers many currencies, and has useful packages for tax accountants and professionals. When we say affordable pricing, we mean you can cover up to 20 transactions for free. Apart from the number of transactions, there are no other limitations to the free plan, unlike with many other providers. The first paid tier is Premium, which covers up a thousand transactions for $39.95 per tax year, followed by Premium Extra, which can help you with 5,000 transactions for $49.95 a year. Lastly, Deluxe covers up to 10,000 transactions for $59.95. After that come the Trader plans, which are tiered based on the number of transactions and charge $129, $189, $249, and $379 per tax year, for up to 50,000, 100,000, 250,000, and 500,000 transactions, respectively.

  • Very affordable
  • Full-service tax preparation
  • Audit Defense service available
Learn More
On Official Website
Starting price:
$0
Number of transactions:
Up to 500,000 (with the maximum Trader plan)
Integrations:
Yes
Free trial:
Yes
Best for: preparing taxes via mobile

CoinTracker

CoinTracker Logo
OVERVIEW

CoinTracker is famous portfolio-tracking software for numerous cryptocurrencies, but it also has all the features you need to turn that portfolio tracking into a tax report. You can connect with your accounts from almost all exchanges and wallets to it, export your transaction history or capital gains for your tax software or accountant, and even see your tax summary per each wallet. Probably the best part of this software is its mobile app, excellently rated on both Google Play and the App Store. You can start tracking and prepping your taxes with CoinTracker for free, but only for 25 transactions. The first paid plan, Hobbyist, starts at $59 per tax year, and covers 100 transactions, while the next paid plan, Premium, will cost you $199 per tax year for up to 1,000 transactions. There is also the Ultimate plan, which includes unlimited transactions and additional features, for a custom quote.

  • Excellent mobile app
  • Great exchange selection
  • Tax summary per wallet feature
Learn More
On Official Website
Starting price:
$0
Number of transactions:
Unlimited (with Ultimate plan)
Integrations:
Yes
Free trial:
Yes

What to Look for in a Crypto Tax Software

When you dive into the crypto world, it’s mandatory to have a good solution for figuring your crypto taxes on hand. As mentioned before - every action you take in the crypto world is still taxable in the eyes of the IRS, and you should have your documents in order.

Your activity is tracked to help you submit accurate reports and avoid overpaying your taxes or paying any penalties.  

Available Integrations

A good crypto tax software should be able to integrate with all of the popular exchanges and wallets to allow for automatic data input. If you are a professional trader, manually keeping track of all your transactions can be troublesome.

You need to keep track not only of prices but also dates, the amount of coins or tokens you traded, and the length of time you kept those in your wallet.

It is also important that the software you choose can be used in your country, as the taxes differ depending on where you live. The app you choose should follow taxation standards in your country.

Even if you are not a professional trader and have a smaller amount of transactions per year, these tools can save you hours in adding all of your trades manually. 

Accuracy of Ready-To-Use Paperwork

Once these data aggregators have all the data they need, they can calculate the crypto taxes you should pay. To do this seamlessly, you should look for the best crypto tax calculator available in terms of accuracy.

Most tax software should also be able to present you with pre-filled and ready-to-download paperwork you can file. It should help you with more than just the infamous IRS Form 8949.

You ought to be able to rely on it for international taxes, your audit track, and even for reporting your taxes on cryptocurrency gains and losses.

Available Features

The best cryptocurrency tax software will also have excellent dashboards for tracking your transaction history. From there, it should have you covered in terms of tax-loss harvesting and other features intended to simplify your tax handling.

Some of these software solutions will recognize transactions between your wallets and save you from paying the taxes on them. Others will automatically remove duplicate transactions from your forms.  

Having all these features available saves time for tax professionals, too. Some of these solutions offer software for tax professionals to help them manage taxes on crypto gains for their clients.

Some solutions offer you to hire a team of tax professionals, which could be beneficial for professional traders who don’t have the time to double-check software reports.

Other solutions include non-crypto tax handling - a perfect solution for those looking to handle all their taxes in one place. However, it might be safer to go with a dedicated, traditional tax software solution if you need that.

Reputation and Security

Other essential aspects of each software handling taxes (especially in the crypto world) are its reputation and security. You want to make sure you are working with the best tax software for crypto,  one that is reliable and secure.

You don't want it to mess up your reports and have to pay penalties once the IRS compares your report to those submitted by crypto exchanges or, even worse, get accused of tax evasion.

Before committing to a particular software, you should be aware of other users’ experiences.

Checking crypto tax software reviews first-hand is an excellent idea that could help you determine whether or not it is the right software to go with.

Pricing and Free Trials

The best way to test crypto tax software is by getting hands-on experience with a free trial. Many providers on this list offer try-before-you-buy schemes or have basic plans that cost very little.

First-hand experience with a piece of software is the key to finding the right tool to help you handle your taxes on cryptocurrency. 

Lastly, there is also the question of the value you get for the price you pay. It would be best to know how many transactions you make per tax year, as these pricing tiers are mainly based on that number.

You should also check whether a piece of software will scale well if you make more transactions in the upcoming year.

With some solutions, different tiers unlock different features as well. However, not all features are worth the extra price. Remember that getting accurate tax reports on time is what matters here,  and don’t fall for expensive bonus features unless you really need them.

Quick Breakdown

Crypto Tax Software Solutions: Our Top Picks

  • Koinly - Best for automating tax reports
  • CryptoTrader.Tax - Best for calculating your crypto taxes
  • CryptoTaxCalculator - Best for complex tax calculations
  • TokenTax - Best for integrations with popular exchanges
  • Accointing.com - Best for novice cryptoholders
  • Bear.Tax - Best for accurate historical price tracking
  • ZenLedger - Best for tax professionals
  • TaxBit - Best for upfront tax planning
  • Bitcoin Taxes - Best for low transaction volume
  • CoinTracker - Best for preparing taxes via mobile

Operator Name

Pricing Tiers

Free Trial

Number of Exchanges Supported

Integration Type

Compatible Tax Software

Country Availability

Cryptotrader.tax

$49/$99/$199/$299

Yes

100

API & CSV

TurboTax & TaxAct

USA & Australia

TokenTax

$65/$199/$799/$3,499

No

89

API & CSV

TurboTax

Global

ZenLedger

$0/$49/$149/$399/$999

Yes

73

API & CSV

TurboTax

Global

Koinly

$0/$49/$99/$179/$279

Yes

370

API & CSV

TurboTax, TaxAct, H&R

Over 100 countries

Bear.Tax

$49/$149/$499

Yes

244

API & CSV

TurboTax

USA, Canada, Australia, and India

CryptoTaxCalculator

$49/$99/$189/$299

Yes

470

API & CSV

TurboTax

22 countries

Accointing.com

$79/$199/$299

Yes

286

API & CSV

TurboTax

Global

TaxBit

$0/$50/$175/$500

Yes

481

API & CSV

TurboTax, TaxAct

Global

BitcoinTaxes (bitcoin.tax)

$0 - $499

Yes

21

API & CSV

TurboTax, TaxAct, H&R

Global

CoinTracker

$0/$59/$199

Yes

411

API & CSV

TurboTax, TaxAct

UK, US, Canada, and Australia

FAQ

Are crypto-to-crypto trades taxed?

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Yes, crypto to crypto trades is taxed. Since you are typically either earning or losing on these sales, you need to keep track of them and report them to the IRS through form 8949.

Do you have to pay taxes on crypto if you don't cash out?

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If you only hold the cryptocurrency, you won’t have to pay any taxes on it. However, when selling it, you’ll have to pay taxes on cryptocurrency gains (but you can also use losses for tax write-offs).

The amount of taxes you’ll pay depends on how long you hold the crypto as well. For example, if you had coins or tokens for less than a year, the taxes you’re obliged to pay upon selling will be the same as your regular income tax rate.

What happens if you don't report cryptocurrency on taxes?

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If you deliberately avoid reporting cryptocurrency on taxes, you could get audited by the IRS. This is a daunting process that could lead to you paying a significant amount in penalties or worse.

It is, of course, advisable to report your cryptocurrency income and trading as accurately as possible and pay the tax on cryptocurrency to avoid potentially harsh consequences. 

How do I keep track of crypto taxes?

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Typically, to report your taxes, you need to keep track of the cryptocurrency name, the date you’ve obtained it, and the date you’ve sold or traded it. It would help to keep track of the cost basis, gains, sales prices, and any other relevant information.

The best crypto tax software on the market keeps track of all this data for you and presents you with accurate and downloadable tax reports you can file with the IRS.

What is taxable when trading crypto?

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To start with, let’s discuss what is not taxable when investing in cryptocurrencies. Purchasing cryptocurrency with fiat money isn’t a taxable event, and neither is holding it on the exchange, or transferring it to your personal wallet. Personal wallet-to-wallet transactions are also exempt, and so are crypto gifts you send to anyone (as long as the amount is less than $15,000), as well as crypto donations to tax-exempt organizations.

On the other hand, selling crypto for fiat is taxable. Buying crypto with another crypto is also a taxable event, and so is using cryptocurrency to buy goods and services. Also, if you are getting paid in crypto for your goods and services, also known as receiving crypto as income, you’ll also have to pay taxes on its current value at the moment of payment.

How to determine how much tax is owed per trade?

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With such a volatile market as crypto, calculating the amount on which you’d owe taxes can get tricky. The rule of thumb is that you owe taxes on either short-term or long-term capital gains/losses on the difference in value of crypto between the day bought and day spent/traded.

For example, if you purchased Bitcoin for $100, and spent it within the year at the value of $300, you’ll have to pay short-term capital gains tax on those $200. How much you’ll pay on those $200 depends on the short-term tax rate, which in 2021 was between 0% and 37%.

If you’ve spent it after a year, that’s long-term tax rate, which depends on your overall taxable income and was 0%, 15%, or 20% in 2021.