Looking for the best crypto tax software to simplify tax tracking? Try CryptoTrader today.
Even without owning crypto, you might find calculating taxes challenging and time-consuming. Tens of millions of Americans trade crypto, and that number is increasing. If you’re profiting from cryptocurrencies, NFTs and DeFi assets, you’ll probably owe taxes.
Most crypto brokerages don’t track your trades the way stock brokerages do. Instead, you can rely on external software to provide tax reports useful for tax season. A good way to stay compliant is to invest in the best crypto tax software.
Quick Look: Best Crypto Tax Software Solutions
- Best Overall: CoinLedger (formerly known as CryptoTrader.tax)
- Best for Flexibility: Koinly
- Best for Integrations: CoinTracker
- Best for Easy Filing: TurboTax
- Best for DeFi Assets: ZenLedger
- Best for NFTs and Web3.0: Crypto Tax Calculator
Top 6 Crypto Tax Software Tools
Most crypto tax software tools track the tax information you need to know by offering tax reports, though some integrate with filing software to simplify the process.
1. CoinLedger (formerly known as CryptoTrader)
- Best For:Crypto Activity Data AggregationVIEW PROS & CONS:securely through CryptoTrader.Tax's website
CoinLedger, formerly known as CryptoTrader.tax, is one of the best crypto tax software with over 500,000 users. It offers a free plan with unlimited transactions, though you have to pay to download reports. You can upload tax reports directly to filing software like TurboTax, TaxAct, H&R Block, TaxSlayer and more.
CoinLedger integrates with over 100 crypto platforms, including crypto exchanges like Coinbase, Binance, Kraken, Bithumb, KuCoin and others. CoinLedger supports crypto software wallets like MetaMask, Exodus, MyEtherWallet and hardware wallets like Ledger and Trezor.
Pros
- Easy three-step process for tax calculation
- Integration with 100 crypto exchange and wallet platforms
- Downloaded by 400,000 users
- Upload your tax report to platforms like TurboTax, TaxAct, H&R Block, TaxSlayer and more
- Supports NFTs
Cons
- Limited transactions included in paid plans
- Supports fewer wallets than competitors
2. Koinly
Koinly is a great option for beginner investors looking for crypto tax software. It offers a free plan that can handle up to 10,000 transactions. However, the free version doesn’t include reports, which include international tax reports, tax forms and export capability to TurboTax and TaxAct. It’s best to opt for a paid plan so that you can file taxes easily. You can correct entries manually if needed, which provides flexibility that other competitors cannot. Koinly offers three packages starting with a $49 per year option with tax reports but only for up to 100 transactions.
Pros
- Flexible entry correction
- Integrates with over 400 crypto exchanges and 100 crypto wallets
- Tax reports for 20+ countries
- View your capital gains and income summary for free
Cons
- Limited free plan with no tax reports
- Priority customer support only available for top-tier plan
3. CoinTracker
If you are looking for crypto tax software with easy account import and integrations, CoinTracker could be on your shortlist. Its free plan allows tax summaries, but you’ll have to pay to download tax reports. Users can monitor their crypto portfolio with historical data, and the integrations import and consolidate your transaction information. The cryptocurrency tax software supports over 500 crypto brokers, NFTs and 20,000 + DeFi smart contracts.
Pros
- Over 500+ integrations, including with major crypto exchanges and tax filing software
- Supports DeFi and NFTs
- Offers recommendations for tax loss harvesting
Cons
- Relatively expensive
4. TurboTax Investor Center
TurboTax has a newly launched dedicated crypto tax software that also integrates with its TurboTax filing software. It guarantees 100% accurate calculations and can easily import crypto transactions from crypto platforms like Coinbase, Binance, Blockchain.com and others. All major cryptocurrencies, including the top 10 cryptos, are supported.
TurboTax Premium starts at $119 without expert help. The Live Assisted version costs $209 and offers a tax expert to guide you through the process.
Pros
- End-to-end tax solution
- Guarantees accurate tax calculations
- Offers live expert assistance
Cons
- Taxes need to be filed through TurboTax itself
- Entry-level plan starts at $119
5. ZenLedger
ZenLedger is also a popular crypto tax software with a special focus on DeFi users. It is useful for investors who use DeFi income tools like staking and yield farming. ZenLedger has tracked over $50 billion in holdings for over 100,000 clients.
It can easily track capital gains and losses on DeFi platforms and supports integrations with 400+ decentralized platforms including Uniswap, PancakeSwap, Aave and others.
ZenLedger offers paid plans for DIY investors along with expert consulting from crypto accounts or end-to-end professional tax preparation.
Pros
- Best crypto tax software for DeFi users
- Supports 400+ decentralized platforms
- Provides support from crypto accountants and tax filing
Cons
- No free plans
- Lowest-tier paid plan limited to 100 transactions
6. Crypto Tax Calculator
Crypto Tax Calculator is the best crypto tax software for users who need advanced NFT tracking. It’s built according to IRS guidelines for mining, staking and airdrops. The cryptocurrency tax software touts a “Least Tax First Out” algorithm that uses the asset with the highest cost basis whenever you dispose of crypto.
Crypto Tax Calculator supports multiple trading strategies. It is available in over 22 countries.
Pros
- Comes with advanced NFT tracking tools
- Optimizes tax liability with “Least Tax First Out”
- Supports unique IRS reporting requirements for mining, staking and airdrops
Cons
- Tax liability optimization and tax loss harvesting start with $249 plan
- Some users frustrated with customer support
What to Look for When Choosing the Best Crypto Tax Software
Different crypto tax software options offer a mix of pros and cons. Here is how you can determine the best option available in the market for your specific requirements.
Supported Countries
Cryptocurrency tax software must support your current tax residence. Without country support, you may not be able to comply with necessary regulations.
Pricing
If pricing is a concern, free versions are available for many of the best crypto tax software. However, these free versions are limited in functionality. To get full tax report benefits, you can opt for a paid version. Pricing depends on the number of transactions reported by your account and the features provided.
DeFi Income Support
Many of the top crypto tax software support DeFi income tax calculations like yield farming and staking. If you have staked Ether (ETH) and received 0.1 ETH in staking rewards, this income is also taxable.
You can select a crypto tax software that will automatically track and calculate what you owe in DeFi tax payments.
Wallet/Exchange Integration
Tax software for crypto needs to integrate your wallet service provider with an Application Programming Interface (API). This integration allows it to import all of your taxable transactions and wallet transfers.
Many users have multiple wallet accounts. Crypto tax software needs to integrate with all of them to generate an accurate tax report.
Track Your Crypto Tax Information
Whether you are a day trader filing taxes, a HODLer or a beginner, crypto tax software is a must-have for digital currency users. From NFTs to spot crypto, each transaction requires accurate tracking so that your year-end tax filing is correct.
Make sure you understand the features of each cryptocurrency tax software and whether it supports your country of residence. If cost is a concern, free versions are available with limited functionality.
Frequently Asked Questions
What is the best crypto tax app?
The best crypto tax apps include CoinLedger, Koinly, TurboTax, CoinTracker and others. Each has its own pros and cons that you should research before buying.
Can TurboTax do crypto taxes?
Yes. The new TurboTax Investor Center allows users to calculate crypto taxes. However, TurboTax only allows users to file crypto taxes through TurboTax.
Is Koinly or CoinTracker better?
Koinly’s lowest-cost paid version is cheaper at $49 compared to CoinTracker’s $59. It also offers support for features like mining, staking, lending and airdrops and over six years of historical spot prices for portfolio tracking.
About Anna Yen
Anna Yen, CFA is an expert crypto writer with over two decades of professional finance and writing experience in roles within JPMorgan and UBS derivatives, asset management, crypto, and Family Money Map. She specializes in writing about alternative investment topics ranging from derivatives to cryptocurrencies. Her work has been published on sites like the crypto exchange Bybit. After six years of personal experience investing in crypto, she prefers BTC, ETH, and SOL.