As the cryptocurrency market continues to grow, it has become increasingly important to manage your crypto taxes properly. Tax laws around cryptocurrencies are still evolving, and it can be challenging to keep up with the latest regulations. Fortunately, there are several cryptocurrency tax software options available that can help simplify the process of managing your taxes. In this article, we will discuss the best cryptocurrency tax software and how they can help you manage your crypto taxes.
- CryptoTrader.Tax
- CryptoTrader.Tax is one of the most popular cryptocurrency tax software options on the market. It offers an easy-to-use platform that allows you to import your cryptocurrency transactions from various exchanges, wallets, and other sources. The software then calculates your capital gains and losses and generates tax reports that you can use to file your taxes.
- One of the key features of CryptoTrader.Tax is its ability to handle complicated cryptocurrency transactions, such as those involving staking, mining, and airdrops. The software can also generate tax reports for multiple tax years, making it a useful tool for anyone who has been trading cryptocurrencies for several years.
- CryptoTrader.Tax offers various pricing options depending on the number of transactions you need to report. The pricing ranges from $49 for up to 100 transactions to $399 for up to 10,000 transactions. Additionally, the software offers a 10% discount if you pay using cryptocurrency.
- CoinTracker
- CoinTracker is another popular cryptocurrency tax software that offers an intuitive platform for managing your crypto taxes. It offers automatic import from over 300 exchanges and wallets, making it easy to track your cryptocurrency transactions. The software also supports various accounting methods, including FIFO, LIFO, and HIFO.
- CoinTracker offers a range of tax reports, including IRS Form 8949, Schedule D, and FBAR. Additionally, the software offers real-time alerts for any potential tax liabilities, ensuring that you stay on top of your taxes throughout the year.
- CoinTracker offers a free plan that allows you to track up to 25 transactions. If you need to track more transactions, the pricing starts at $49 for up to 500 transactions and goes up to $999 for up to 100,000 transactions. CoinTracker also offers a 20% discount if you pay using cryptocurrency.
- TaxBit
- TaxBit is a cryptocurrency tax software that specializes in providing tax services for businesses and professional traders. The software offers automatic import from over 300 exchanges and wallets and supports various accounting methods, including FIFO, LIFO, and specific identification.
- One of the key features of TaxBit is its ability to generate tax forms for businesses and professional traders, such as K-1s and 1099s. The software also offers real-time alerts for any potential tax liabilities and provides support for audits.
- TaxBit offers various pricing options, including a free plan that allows you to track up to 100 transactions. The paid plans start at $49 for up to 1,000 transactions and go up to $5,000 for up to 250,000 transactions. TaxBit also offers customized pricing for larger transactions.
- Accointing
- Accointing is a cryptocurrency tax software that offers a range of tools for managing your crypto portfolio. The software offers automatic import from over 300 exchanges and wallets and supports various accounting methods, including FIFO, LIFO, and HIFO.
- One of the key features of Accointing is its ability to generate tax reports for multiple tax years. The software can also handle complicated cryptocurrency transactions, such as those involving staking and mining.
- Accointing offers a free plan that allows you to track up to 50 transactions. If you need to track more transactions, the pricing starts at $99 for up to 500 transactions