Here, we present the best crypto tax software prices for automated reports and calculations.
A cryptocurrency tax software is a perfect crypto trading tool for you to minimize your time doing non-trading stuff. This will maximize you trading time and also increase your potential profits.
Included websites provide you with an online account where you can import all your transactions and it will fix the rest. We have a 4 step guide where we describe this in the article, help to automate crypto tax calculations and filings with a software.
Since different governments have their own tax policies, we recommend to check up if your fiat currency and country laws are supported before you sign up and pay for a subscription.
Best Crypto Tax Software Prices
In the table below, you can compare the best crypto tax software prices. As you can see, most of the crypto trading software we present has a free version.
However, free versions has often limited features and only supports a certain number of trades per year.
Make sure to select your crypto trading software carefully since it can be quite time consuming to change crypto tax software.
Cointracking - Number 1 Crypto Tax Software
Trade statistics, Reporting Tools and Balance Calculations
Cointracking specializes in tracking and reporting crypto tax services for crypto businesses and traders alike.
It offers a wide range of products for its clients, including trade statistics, prices, reporting tools, balance calculations, and tax reports.
You can choose to automatically upload trading history via an API from all common crypto trading platforms. The main gist of the website is the ability to have a complete report and even budget prepared for you.
The picture below offers a snapshot of the platform, as well as how reporting works at Cointracking. Once you import our transactions into the platform, you immediately have an attractive data presentation, as seen in the picture. Statistics like the ones below provide accurate description not only of your taxes but of your business as well. Apart from standard reports, you also have charts, statistics, and graphs, as seen below.
As for the crypto trading tax calculator, all positions are shown transparently, as well as the calculations made. The platform supports many different countries, including the US, Europe, and Asia.
You have the option to use crypto trading tax services for free while paid plans (Ultimate and Pro) have many additional features. Free accounts don’t have tax reporting as part of their account. Cointracking has both wallet import and exchange import from almost all exchanges including Binance, Bitfinex, BitMEX and more. CFD trading platforms like eToro and Markets are not supported.
Read more about how to report crypto tax files with Cointracking.
Bitcointaxes - Pure Crypto Tax Software
Crypto Tax Services for US, Canada, Australia, Germany and United Kingdom
BitcoinTaxes is quite different from Cointracking, since it offers crypto tax services only. It provides help for traders originating from the US, Canada, Australia, Germany, and the United Kingdom.
You have the option to import your transaction history and balance from the top Bitcoin trading sites and major exchanges, such as Coinbase, Gemini, Circle, Bitstamp, BTC-e, Bitfinex, Kraken, or CSV. The same service is available for the online wallet as well, which saves time from creating a new table by yourself.
The company offers tax models based on FIFO, LIFO, and average costing, which is flexible enough for most systems.
The platform also has a competitive advantage over its reveals in terms of its partnerships with accountants. You have the opportunity to work with your personal tax advisor through a program called “Tax Accountants”.
The snapshot below represents a page for tax attorneys, where you can contact professional that operates in a U.S. state in which you live. Since different regions might have their own policies, it is important to collaborate with the right professional. Also, the page offers information regarding their history, experience and a link to their website.
The website does not require any sort of personal information from you nor are you obliged to provide scanned documents. It is thus important to note that, although it provides services, the platform itself does not prepare tax reports for you.
Cryptotrader.tax Crypto Tax Software
Cryptotrader.tax is a crypto trading tax USA platform that offers FIFO (first-in-first-out) recording.
However, residents from other countries can open up an account as well. What makes this website quite interesting is the fact that you can calculate your cryptocurrency taxes for free. As long as you only import and calculate within the website, it is free of charge.
However, should you wish to download reports and fill out your IRS Form 8949, then the yearly $39.99 subscription applies.
Unlike other companies, Cryptotrader accepts fiat payments, through Visa, MasterCard, or American Express credit card. Since the platform is new, supported exchanges include Coinbase Pro (parent website Coinbase included), Bittrex, Gemini, Binance, and Poloniex.
There is also a feature of contacting individual tax advisors and accountants that could help you make crypto tax prep easy. All professionals base their operations within the U.S., meaning that financial advisors base their knowledge on the American financial system.
Koinly Crypto Tax Software
1. Koinly offers superior error handling and transaction detection. It can automatically match transfers between your exchange accounts and wallets as well as tag Staking rewards, Forks, Loan Interest and other txns automatically.
2. Koinly is the only tax calculator that warns you if your transactions are missing. Other tax tools only detect negative-balances i.e. if you withdraw more than the balance of your account you are hopefully going to see a warning there but Koinly goes a step further and detects ALL missing transactions. These can be missing airdrops, forks, or simply data that the exchange has lost (this happened with Bitstamp). Note: Binance, Bittrex and many other exchanges do not return all your data via their API, in such cases it is vital to upload or add the data manually – Koinly warns you when this is the case.
3. Koinly supports more blockchains than any other tax tool out there. You can sync anything from a BTC xpub key to your EOS, COSMOS and even XRP addresses. Support for ypub and zpub is also in the works.
4. Koinly supports 100+ exchanges via API or CSV. If you don’t want to deal with CSV files just sync your data using our API integrations.
5. Koinly is not just a tax tool! With Koinly you can keep track of your crypto portfolio and watch how it has grown (or fallen) over time. It also shows you your current holdings on all your exchange accounts/wallets and their total values. As if that’s not enough, you can even track your transactions across multiple blockchains so you never have to jump between different blockexplorers again!
6. Koinly helps you reduce your taxes. See your tax-loss harvesting opportunities and tips on how to reduce your taxes. Koinly also writes peer-reviewed guides on how best to do your taxes.
7. Koinly supports over 20 countries. So, whether you are in USA, Germany or Ireland – Koinly can do your crypto taxes. USA-citizens can even download a ready made Form 8949.
Read full Koinly tax report app review 2021.
Best Crypto Tax Software Prices and Automated Reports - Summary
In this article, we provided our readers with a few different ways to simplify your crypto trading tax. We definitely think it is worth the cost to get cryptocurrency tax software to help you calculate obligations.
Some platforms have a free option to try first. The important thing is investing in some software – it saves time by doing complex calculations in your stead, which can be quite time-consuming and dull.
Depending on how many trades you have per year, you can choose between the different price packages.
Keep in mind that cryptocurrency tax laws change these days quite rapidly, so investigate them regularly. We have created the article, how to pay tax on crypto trading, earning, income and gains to give you a better general understanding of what events are taxable and what events are not.
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