These Crypto Tax Software Are Important To Save Your Time

Ozioma Sani 20/01/2022 Others, Top 10 Leave a comment 76 Views

The number of people investing in digital currencies is increasing to a great extent with each passing day. This is because of the fact that it can make you a millionaire or even a billionaire within a short period of time. If you are a crypto investor, then you would probably require these crypto tax software for making better calculations.

You can take the help of this software for crypto tax, which can automatically sync across crypto wallets and exchanges, calculate your capital losses and gains, and will offer you a final tax report which you can use during your tax filing.

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1 Top 10 Crypto Tax software For Your Regular Use

Top 10 Crypto Tax software For Your Regular Use

Keeping a track of all your crypto activities because of tax purposes can be very painful as having your most promising crypto can face a sudden dive. After all, from trading to mining, you will have to report all your crypto transactions for the purpose of taxation. So to keep this data in hand, there are several crypto tax software that assembles all your data and prepare a report which can be used by you for tax filing.

In this segment, we are going to discuss those top 10 software that you can use at any time for keeping a record of all your crypto activities.

Koinly

This is the ideal open source crypto tax software, which links easily with all your crypto exchanges, wallets, blockchain addresses, and also services so as to offer you a clear picture of your invested money throughout various platforms. If you are looking for crypto tax software free, then you can go for this.

Features

Links with 74 wallets, 353 crypto exchanges, and 14 blockchain addresses.
Naturally syncs your information from all sources.
Allows you to export your transaction information to other tax software such as TaxAct, TurboTax, etc.
Follows your portfolio across your accounts and wallets and shows you real-time details of profit and loss and also tax liabilities.

TokenTax

TokenTax is a tax software for cryptocurrency, that has been made for calculating complex taxes for the user’s crypto exchanges so that they can file their taxes. The automation characteristics provided by the software make tax reporting very simple and easy to manage. This is undoubtedly the best crypto tax software.

Features

Gives you audit assistance.
Supports every exchange.
Tax loss harvesting.
Incorporates automatically with exchanges to assemble your data.
Get help from a digital currency accountant.
It can measure and also file for your taxes.

ZenLedger

ZenLedger is another crypto tax software that helps integration with over 400 exchanges that include over 30 DeFi Protocols. With over 15K customers, ZenLedger is offering its crypto tax simplifying services to the investors and tax professionals.

Features

Computes your crypto losses and profits with the help of your transaction history.
Allows you to integrate with TurboTax.
Offers you access to a tax pro along with all its plans.
Tax loss collecting tools and unified accounting reports

Accointing

This is a tax reporting as well as crypto tracking software that provides you with the tools to track the market, offer tax loss harvesting, analyze your portfolio, and give you reports of tax so that you can file for your taxes conveniently.

Features

Elements to analyze your portfolio for you to make better shifts in the future.
Enables you to explore crypto space.
Calculate your profits and losses.
Prepares tax reports for you, which you can download and use for filing taxes.
Tax-loss harvesting.

TaxBit

TaxBit is a software for crypto tax, created by tax attorneys and CPAs, for users who wish to change their 1099s and other information into crypto tax reports, along with enterprises who require to issue 1099s.

TaxBit provides you with automation technology that syncs your information and offers you final tax reports, while you are not required to do anything.

Features

Supports over 150 exchanges and more than 2000 currencies.
Allows you to export your transaction reports.
A strong dashboard that shows you the position of your tax, unrealized profits/losses, and asset balances.
Portfolio performance analysis and tax loss harvesting features.

Cointracking

Cointracking is a famous digital currency tracking and tax reporting software that has over 930K active users. It offers the users with details of market activities for 12,033 coins and automation characteristics for importing your crypto transactions.

Features

Offers you tools to evaluate the trends in coins for trading.
Provides you reports of gains and losses.
Helps in importing data from more than 110 exchanges
Allows you to export the tax reports to tax offices or CPSs.
Offers tutorials via FAQs and videos.
Tax reporting for the crypto traders along with crypto companies

BitcoinTaxes

BitcoinTaxes allows you to know about all your capital profits and losses so that you can file all your taxes. It also provides you assistance via an experienced crypto tax professional who can help you on how to insert crypto trades in Bitcoin.tax

Features

It estimates your capital profits and losses.
They also provide complete tax preparation services, along with prices that start at $600.
Take guidance from tax professionals, for planning on taxes.
Tax loss harvesting.

Bear.Ta

Bear.Tax is a digital currency tax software that is competent at automatically importing your transactions, making tax reports, calculating your taxes, and sending them to your CPA or the tax software you use.

Features

Allows you to import your trades from any digital currency exchange that you are using.
Automation feature available to process all your tax documents and send them to your CPA.
Estimates your crypto profits and losses
Provides you sales reports, audit trail reports, and many more.

CryptoTrader.Tax

CryptoTrader.Tax is a famous tax software which is used by over 100k customers. It supports over 10,000 digital currencies, syncs via unlimited exchanges, provides you with present profit and loss reports, and many more.

Features

Enables you to easily import your transaction data, from varied crypto platforms.
Supports many digital currencies from around the globe.
Offers your resources to raise your knowledge about the crypto space.
Complete audit support.
Tax loss harvesting tools.

CoinTracker

CoinTracker is a reliable crypto tax software with over 500,000 users. It naturally tracks your whole portfolio and saves your money via tax-loss harvesting tools.

Features

Automation element to sync your transaction information from unlimited digital currency exchanges.
Calculates capital gains.
Allows you to export your tax reports to TaxAct or TurboTax.

Closing Lines

Digital currencies have become very famous within a very short period of time. The cause for this is the huge chances of receiving huge profits from it. But, if you trade in cryptos, you will need to pay taxes and for that purpose, you are required to accurately calculate your capital profits and losses. So in this article, we have discussed the top 10 crypto tax software that you can use to arrange all your transactions and also prepare your tax report that you will need when you will be filing your tax. This article can also act as your crypto tax software review.

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Ozioma Sani

Crypto security is paramount, and so you must understand that better as there are many crypto crime news that we get to see regularly now. And there can be nobody better than Ozioma to share her knowledge on keeping your digital assets safe and secure. Ozioma’s explanation of Bitcoin news is understood easily. However, this is not where she stops. She has done her part of research in cryptocurrency bots and masternodes. She cites quality interviews from the crypto market and presents her opinion with enough justification.