Top 5 Crypto Tax Software Options

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Top 5 Crypto Tax Software Options

 

If you have invested in cryptocurrency, it may be time to calculate and pay your crypto taxes. This task can become even more complex without the use of crypto tax software. In this article, we have compiled a list of the best crypto tax software for 2024.

Best Crypto Tax Software

 

1. CoinLedger


CoinLedger supports various exchanges, wallets, and DeFi platforms. Although there is no free plan, users can access some features for free. If a plan doesn't meet your expectations, there is a 14-day money-back guarantee. However, you will need to pay to use the platform after this trial period as there are no free plan options available.

Users have reported this crypto tax software as easy to use with great customer service. The platform allows for automated data importing, making it easy to import, track, and reconcile information with just a few clicks. Additionally, it integrates seamlessly with TurboTax, TaxDirect, 100 crypto exchanges, and popular crypto wallets. The software also supports Ethereum blockchain and NFT transactions.

CoinLedger offers portfolio tracking and data import for all plans, along with international tax reporting and return calculations for numerous cryptocurrencies.

Pros:


- Easy-to-use
- 14-day money-back guarantee
- Excellent customer service

Cons:


- No Free plan available
- Limited availability in multiple countries.

Pricing:


- Hobbyist: 100 transactions for $49 per tax year
- Day Trader: 1,500 transactions for $99 per tax year
- High Volume: 5,000 transactions for $199 per tax year
- Unlimited: Unlimited transactions for $299 per tax year

 

2. Coinpanda


Coinpanda is a popular tax software tool among crypto users, known for being user-friendly and offering a Free plan that includes various tax reports based on traders' activity and supports up to 25 transactions. Coinpanda offers a free trial for each of its packages - Hodler ($49 per tax year), Trader ($99 per tax year), and Pro ($189 per tax year). The software is available in at least 65 countries and supports a wide range of crypto exchanges, wallets, and blockchains, surpassing most competitors in this aspect.

Coinpanda offers a tax-loss harvesting tool and portfolio tracking feature, which enables users to minimize their tax payments and monitor their cryptocurrency portfolio effectively.

Pros:


- Free plan available
- Wide range of supported countries
- User-friendly interface

Cons:


- No mobile app
- Limited transactions on the Free plan

Pricing:


- Free: 25 transactions
- Hodler: Up to 1,000 transactions for $49 per tax year
- Trader: Up to 3,000 transactions for $99 per tax year
- Pro: Up to 20,000 transactions for $189 per tax year

 

3. Koinly


Koinly is designed to be a versatile platform that caters to a wide range of cryptocurrency users globally. The software efficiently creates detailed tax reports in approximately 20 minutes. It offers extensive support for cryptocurrency exchanges and wallets, accepting payments in BTC, ETH, DAI, and USDC. Additionally, Koinly supports over 17,000 cryptocurrencies, making it suitable for reporting gains and losses on various popular cryptocurrencies, altcoins, and stablecoins.

Pros:


- Free app available
- Supports over 17,000 cryptocurrencies
- Detailed tax reports

Cons:


- Limited free plan features
- Payment for services cannot be made using cryptocurrency

Pricing:


- Newbie: Up to 10,000 transactions for $179
- Network: Up to 3,000/10,000+ transactions for $500

 

4. TaxBit


TaxBit seamlessly integrates with over 500 exchanges, wallets, DeFi protocols, and popular NFT marketplaces like OpenSea. The crypto tax software has provided support for over five million taxpayers. TaxBit offers both Individual and Enterprise platforms. The Individual platform allows users to automate their crypto tax forms at no cost, providing instant portfolio value insights and helping users optimize tax-loss harvesting strategies.

Pros:


- Free tax reports
- Unlimited transactions even in Free plan
- DeFi and NFT tax engine included in all plans

Cons:


- Limited to the US
- No support for cryptocurrency payments

Pricing:


- Basic: $50
- Plus: $175
- Network: $500

 

5. ZenLedger


ZenLedger offers support for over 400 crypto exchanges, including 30 DeFi protocols and wallets through API or CSV. The free plan includes detailed reports for up to 25 transactions, while the Starter plan, starting at $49, allows for up to 100 transactions. ZenLedger provides users with the ability to effectively track their trades, profits, and losses.

Pros:


- Personalized assistance available
- Detailed reports for Free plan users
- Excellent customer support

Cons:


- Limited to US requirements
- Features like DeFi and NFTs are only available in higher-tier plans

Pricing:


- Up to 25 transactions: Free
- Starter: Up to 100 transactions for $49
- Premium: Up to 5,000 transactions for $149

 
In conclusion, when choosing the best crypto tax software, it's essential to consider factors such as ease of use, supported features, pricing, and customer support. Coinpanda emerges as a top choice for its user-friendly interface, a wide range of supported countries, and comprehensive features. However, each option listed above has its strengths, so it's crucial to evaluate your specific needs before making a decision.

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