The IRS began taxing crypto in 2014. Even though we can all argue that cryptocurrency is quite literally a currency, the Internal Revenue Service perceives it as a form of property.
This means that you’ll need to pay taxes on crypto that you’ve got as a capital gain, on crypto that you’ve bought/sold via investment ventures, on crypto you’ve received as a form of payment for services/goods, on crypto you’ve mined, and even on crypto that you spend.
Fortunately, there are dozens of crypto tax software that can be used to make your life a lot easier. Instead of wasting hours searching the web for ways to calculate your crypto tax, I recommend using any of the programs listed below.
Best Crypto Tax Software
So, let’s jump right into it. Here is my list of the best crypto tax software in 2022.
1. Koinly
Overview
I’m opening the list with Koinly because it’s a freemium cryptocurrency tax software with an impeccable rating on Trustpilot. If you’re an experienced crypto trader, I recommend upgrading to one of the three premium packages.
Furthermore, numerous high-profile corporations and government agencies have approved it, including Canada Revenue Agency, Inland Revenue, Receita Federal, and most importantly, for the US, the IRS.
Its clean user interface allows people that are not as tech-savvy to have a clear overview of their assets and fill out their tax reports claiming any capital gains in record time. One of the most convenient features of Koinly is Portfolio Tracking, which blends crypto asset and tax tracking into one feature.
On the main screen, ROI, fiat investments, crypto income, profits, loss, as well as capital gains are neatly displayed.
Data import is one of the core features of this cryptocurrency tax software, allowing users to synchronize data from various platforms to Koinly. Furthermore, automatic synchronization of transactions across 50 blockchains and support for over 17,000 cryptocurrencies are also available.
Key Features
- Supports 50 wallets, 350 crypto exchanges, and more than 17,000 cryptocurrencies
- Streamlined crypto tax reports
- Automatic data migration and synchronization
- Portfolio and crypto income tracking
- Clean UI
Pricing
Koinly offers four pricing plans, including Free, Newbie, Hodler, and Trader. The basic plan is free; the Newbie package costs $49 per tax year; the Hodler costs $99 per tax year while the Trader plan costs $179 per year.
What I Like/Dislike About Koinly
I love the fact that the Free plan covers all bases when it comes to crypto tax essentials. It includes portfolio tracking and basic tax reports, although it lacks the much-needed Form 8949 required to file crypto taxes. Furthermore, it offers the full suite of data import and error reconciliation features in the same capacity as premium plans.
The main drawback of Koinly is, and this may be an error on their behalf, that the Free plan supports more yearly transactions (10,000) than Newbie (100) and Hodler (1,000) premium plans.
Who Is This For?
The flexible pricing plans ensure that Koinly can fit into any budget. This software offers reliable results, is highly versatile, and most importantly, it’s easy to use so you don’t need the help of tax professionals to figure it out. The advanced features available in the Trader subscription make it perfect for crypto-based businesses, traders, and NFT projects, but I recommend starting with the Free plan before upgrading in any case.
2. CoinLedger
Overview
I remember when CryptoTrader was launched in 2017; it created big waves on the scene with a comprehensive suite of tools suited for tracking and reporting on De-Fi transactions and NFTs, not limiting itself to cryptocurrencies as some of the platforms of that time.
CryptoTrader was rebranded as CoinLedger merely a couple of months ago, which I’m only mentioning because some people may recognize its original name.
It’s one of the best crypto tax software on the market, offering detailed crypto tax reports, an automated tool dedicated specifically to NFT taxes, as well as integrations with some of the most popular e-wallets, De-Fi platforms, and crypto exchanges.
Some of the prominent features of CoinLedger include reports on short and long-term crypto gains, reports on cryptocurrencies, as well as the innovative Tax Loss Harvesting feature. This is a built-in tool that was meant to mitigate the financial ‘damage’ from taxable crypto gains.
Key Features
- IRS Form 8949 included in all price plans
- Fiat currency trade tax report
- Cryptocurrency, De-fi, and NFT trade reports
- Integrations with Ethereum, Binance, Uniswap, OpenSea, Exodus, and other reputable De-fi platforms, crypto exchanges, and e-wallets
- Tax Loss Harvesting tool
Pricing
CoinLedger offers four premium subscription plans, including Hobbyist at $49 per tax year; Day Trader at $99 per tax year; High Volume at $199 per tax year, and Unlimited at $299 per tax year. A free trial is available for all packages.
What I Like/Dislike About CoinLedger
I was thrilled to see that all the features of CoinLedger are unlocked, regardless of which package you choose.
The main difference is in the number of transactions; I think that the Hobbyist subscription costs a bit too much for 100 transactions per year, and the same can be said for the premium Unlimited option.
Who Is This For?
Depending on the package, CoinLedger can be great for anyone looking to save money during tax season. From crypto enthusiasts that are occasionally purchasing NFTs, over experienced traders that buy and sell crypto several times a day, to professionals that are running a crypto business.
3. Accointing
Overview
Accointing is easily one of the top crypto tax software programs available on the market, offering a streamlined app, surgically-accurate reports on crypto assets, an automated crypto tax calendar, and the tax-loss harvesting tool.
This program is not laden with a myriad of unnecessary features; it packs a simple set of cutting-edge tools that allow users to reliably track their assets, file their crypto taxes, and mitigate losses from capital gain taxes.
You can access all of its features from the simplified dashboard; many users have imparted that handling crypto taxes with Accointing shouldn’t take more than half an hour.
Key Features
- Covers up to 50,000 transactions with the Pro plan
- Streamlined portfolio tracking feature
- Tax-loss Harvesting
- Easy-to-use crypto tracker
- More than 300 integrations with De-fi platforms, e-wallets, and crypto exchanges
Pricing
Accointing offers three subscription plans. The Hobbyist package cost $79 per tax year; the Trader subscription costs $199 per tax year while the Pro package costs $299 per tax year.
What I Like/Dislike About Accointing
One of the things that I loved the most about Accointing is how easy it is to use. It was designed to save time, provide detailed, accurate reports, and make it easy to pay taxes.
I am not too thrilled about Accointing’s pricing options. Each plan is a bit pricier than average, making it less accessible to hobbyists and people new to the crypto market. Professionals, on another hand, can get high value from its advanced features, though.
Who Is This For?
I would mainly recommend Accointing to experienced crypto traders, seasoned NFT collectors, and crypto-based businesses who are looking to quickly figure out their capital gains tax liability. Its time-saving benefits coupled with advanced features would sit best in the hands of people that regularly trade in crypto assets.
The app can be used for free, but the tax reports are then limited to 25 transactions. The standalone crypto tracker can also be used free of charge.
4. CoinTracking
Overview
It’s important not to confuse CoinTracking with CoinTracker. I didn’t include the latter on the list because of its 1.5/5 star rating, incompatibility with Windows devices, and lack of customer support.
CoinTracking is among the best crypto tax software out there, offering a number of crypto trade backups, API access to the user’s portfolio, accurate tax reports on capital gains, as well as both manual and automated data import from supported blockchains.
What separates CoinTracking from other cryptocurrency tax software programs is a comprehensive database of trade statistics and prices.
Key Features
- Automated and manual blockchain data imports
- Up to 20 personal trade backups
- Portfolio tracking
- Crypto analysis based on trending statistics
- Full-service crypto tax reports
Pricing
CoinTracking charges a yearly subscription fee for accounts that have upgraded from Free to Pro, Expert, or Unlimited. The Pro package costs $10.99 per month ($131.88 per year); the Expert package costs $16.99 per month ($203.88 per year) while the Unlimited package costs $54.99 per month ($659.88 per year).
What I Like/Dislike About CoinTracking
You can get up to 20 trade backups and automatically import coins from supported blockchains to the dashboard with CoinTracking. Unlimited crypto tax reports are also available with all subscription plans aside from the Free plan.
The invasive ads in the Free account package were a huge dealbreaker for me. However, all other subscriptions won’t present you with these pesky nuisances.
Who Is This For?
CoinTracking is a simple crypto tax tool for beginners, an advanced app for experienced crypto traders and tax professionals, as well as an excellent solution for crypto corporations and enterprises.
5. Cointelli
Overview
Cointelli is widely regarded as one of the cheapest and simplest crypto tax software. If you demand professional results and don’t want to commit to paying a small fortune for a program you’ll use a couple of times a year, this may be what you’re looking for.
This crypto tax software supports more than 100 e-wallets and crypto exchanges, covers NFT, De-Fi, and cryptocurrency transactions, and it’s compliant with TurboTax and TaxAct crypto tax forms.
Cointelli is a dependable crypto tax software that puts a heavy emphasis on ease of use. Powered by AI and machine learning technologies, Cointelli is capable of delivering dependable crypto transaction reports.
Key Features
- Supports more than 100 e-wallets, De-fi platforms, and crypto exchanges
- Covers cryptocurrency and NFT transactions
- TurboTax & TaxAct compliant
- Highly intuitive user interface
- Supports up to 100,000 transactions
Pricing
Cointelli offers a free package with limited features while the full suite of tools can be unlocked for $49 per year.
What I Like/Dislike About Cointelli
The simplicity and efficiency of Cointelli are its two highest points. Its free version is decently versatile while the premium plan is highly affordable.
On the downside, it lacks certain features that advanced crypto tax programs come supplied with, such as the tax-loss harvesting tool, automated data imports, or more extensive integrations (with non-leading blockchains).
Who Is This For?
The premium Cointelli plan can cater to the needs of professional traders, but I would recommend other programs for bigger companies and crypto projects. It’s absolutely perfect for beginners looking to calculate their capital gains tax, as even the Free package offers a wide scope of useful crypto tax reporting features.
6. TurboTax
Overview
TurboTax is the longest-standing leader in the industries of both tax and crypto tax program providers. As vouched by tens of thousands of online reviews, it’s the best crypto tax software that money can afford. They even provide a free crypto tax calculator on their website.
What separates TurboTax from other crypto tax software programs is its versatility. Namely, it’s supplied with bleeding-edge technologies suited to track, prepare, and electronically file crypto tax reports, deductions, and credits; it also covers fiat currencies, cryptocurrencies, NFTs, as well as stocks, ESPPs, options, bonds, and an array of other investments.
The premium packages also offer personal support from crypto tax specialists, smartphone-based 1099 NEC tax filing options, and a host of additional features.
Key Features
- Covers virtually all fiat and crypto transactions
- Automated import of income data
- Expands into real estate and charity tax deductions with the Deluxe package (and above)
- Smartphone, desktop, and online crypto tax file submission
- Supports multiple crypto tax forms
Pricing
TurboTax offers three subscription plans, all of which are billed yearly. The Deluxe package costs $59 per year; the Premier subscription costs $89 per year while the Self-Employed package costs $119 per year. A free edition is also available.
What I Like/Dislike About TurboTax
The superior versatility and outstanding reporting accuracy of TurboTax are some of the many reasons why it has dominated the market for nearly two decades. It’s used by both tax professionals and regular users alike.
On the downside, TurboTax is primarily a federal tax software; its crypto tax-related features aren’t as comprehensive.
Who Is This For?
Given how all-encompassing TurboTax is, I would recommend it to everyone searching for a quality crypto tax software service. The program deals with both regular and crypto taxes, making it extremely easy to pay taxes all in one go. TurboTax is also available at affordable yearly fees and is certainly a cryptocurrency tax software solution you should consider checking out.
7. ZenLedger
Overview
A post about crypto tax software reviews wouldn’t be complete without ZenLedger. ZenLedger is an easy-to-use crypto tax software designed to make the process of importing transactions and filing tax forms as simple as possible.
Its user interface is straightforward, showing import history, a list of paid and pending crypto taxes, the user’s crypto assets, as well as self-updating stats regarding selected cryptocurrencies. You can also easily generate tax reports based on all of the data ZenLedger has imported.
Although De-fi, NFT, and staking options are only available in Premium and higher subscription packages, the support for these assets is phenomenal.
Other notable features available across all plans include audit reports, tax-loss harvesting tools, integration with TurboTax, and most importantly, support for an unlimited amount of exchanges.
The amount of covered transactions spans between 25 (with the Free package) and 15,000 (with the Executive package) while the Platinum subscription supports unlimited transactions.
Key Features
- Detailed, accurate crypto and fiat reports
- De-fi, staking, and NFT support at Premium, Executive, and Platinum packages
- Tax-loss harvesting tools
- Integration with TurboMax
- Reports on ICOs and airdrops
Pricing
Including the free version, ZenLedger offers its services across five pricing plans. The Starter pack costs $49 per year; the Premium package costs $149 per year; the Executive subscription costs $399 per year while the Platinum subscription costs $999 per year.
What I Like/Dislike About ZenLedger
ZenLedger’s crypto tax software streamlined the process of paying crypto taxes. Furthermore, I love its tracking accuracy and the intuitiveness of the dashboard.
The only thing I didn’t particularly like about ZenLedger is its expensiveness. The Starter kit is the only approachable subscription, but it offers very limited features. Other plans, although pricey, offer sophisticated, highly advanced features.
Who Is This For?
I would recommend ZenLedger to crypto professionals, as well as prolific crypto traders who need an easy tax filing solution with unlimited transactions. This software is probably a bit too pricey for beginners, although it’s more than versatile enough to accommodate the needs of skilled and experienced crypto collectors, traders, and accountants.
8. TokenTax
Overview
TokenTax is a professional crypto tax and accounting tool, offering a host of advanced features and cutting-edge technologies. It stands out among the best crypto tax software with extensive integrations in terms of De-fi platforms, e-wallets, and exchanges, as well as fully automated tax filing solutions.
TokenTax’s creators ensured that everyone can benefit from using this program. In comparison to contemporary crypto tax apps, each subscription level of TokenTax is more advanced than average, meaning support for a higher number of transactions, more detailed income reports, and live chat support across all packages.
Both IRS form 8949 and IRS audit are a part of the core TokenTax feature suite making it easy to account for your crypto gains or losses. More advanced packages offer De-fi and NFT support, automated CSV imports, as well as reports on Ethereum gas fees, support for virtually all centralized exchanges, and more.
Furthermore, each plan can be further expanded with optional features, meaning expanded coverage for transactions, TokenTax filing, or even custom transaction counts.
Key Features
- IRS audit and Form 8949 included in all pricing plans
- Live chat support
- Integration with TurboTax; optional Turbo Tax form filing
- Supports De-fi, NFTs, and fiat currencies
- Covers up to 30,000 transactions; optional custom transaction count
Pricing
TokenTax offers four pricing plans, including Basic at $65 per tax year; Premium at $199 per tax year; Pro at $799 per tax year; and VIP at $3.499 per tax year.
What I Like/Dislike About TokenTax
One of the main reasons why I recommend TokenTax is because it offers a variety of unique features. IRS audit, for starters, then an entire dashboard dedicated to tax-loss harvesting; reports on Ethereum gas fees, as well as an array of crypto accounting features.
TokenTax is certainly not the cheapest crypto tax software, and its VIP package is easily among the most expensive crypto tax services.
Who Is This For?
Accountants serving professional crypto traders and high-profile NFT collectors would probably benefit the most by using TokenTax. Its Basic and Premium packages are affordable enough to meet the needs of smaller NFT projects.
9. BearTax
Overview
Backed by Fullstack and Bitcoin, BearTax is among the most reliable crypto tax programs on the list. It’s decently affordable and offers a broad range of automated features that make filing cryptocurrency taxes a breeze.
One of its most prominent functions is the automation of the IRS 8949 form. All pricing plans include this feature, allowing users to simply fill in the blanks and submit the report to the IRS.
Integration with TurboTax is also included, as well as support for the leading crypto and De-fi exchanges.
What separates BearTax from most crypto tax programs is support for ‘lifetime’ transactions. Instead of being chained to a specific number of covered transactions in a single tax year, the transaction count carries on to the next.
Some of the prominent features of this software include the Gain-Loss calculator, encompassing income classification and smart matching, as well as the ability to link multiple accounts together.
Key Features
- Covers up to 1 million transactions
- Support for the leading crypto and De-fi exchanges
- Automated 8949 form
- TurboTax online integration
- Gain-loss calculator
Pricing
BearTax offers three subscription plans, including the Basic at $49 per tax year; BearTax Plus at $149 per tax year, and Pro at $499 per tax year.
What I Like/Dislike About BearTax
I love the fact that all pricing plans include all BearTax features. The only difference is in transaction count, but even that is great, as transactions are carried over to the following tax year if any remain ‘unspent’.
The tax-loss harvesting, automated data import, and similar features that are essential for crypto traders are not featured in any BearTax package.
Who Is This For?
BearTax is great for anyone that pays or sells in crypto, as well as crypto accountants. The Basic plan is affordable enough for crypto enthusiasts while the Pro plan is suited for larger enterprises.
Wrap Up
I wanted to provide you with as many options as possible, and that’s why I’ve included both free and premium crypto tax programs in this list. The best crypto tax software is the one that provides reliable results and is easy to use; if you ask me, that’s the program that you feel comfortable using, and the program that fits in your budget.
Whichever crypto tax software you choose to use, make sure you understand your tax liabilities and which taxable events you need to account for. By doing this, you’ll remain in good standing with your Country’s tax collection agency while also being able to save money by using one of these best cryptocurrency tax software solutions.
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