If you regularly trade crypto, it’s important to keep tabs on your tax liabilities. There are many software providers that can streamline your calculations, ensuring that you pay the correct amount on time.
This guide reviews the 8 best crypto tax software platforms for 2023. We reveal everything you need to know, including supported countries, compatible exchanges, fees, customer service, and other important factors.
Best Cryptocurrency Tax Software Reviewed
Read on for our in-depth crypto tax software reviews.
1. Koinly – Best Crypto Tax Software for Beginners Supporting Hundreds of Exchanges and Wallets
We rank Koinly as the best option for beginners. Founded in 2018, Koinly makes the crypto tax reporting process a breeze – even if you’ve never logged any of your previous transactions. Koinly is compatible with more than 400 crypto exchanges, including Binance, Coinbase, Crypto.com, and KuCoin.
It extracts your crypto exchange history through an API connection, which is completely safe. Put simply, it accesses your data in read-only mode, meaning it can’t make any changes to your account. In addition, Koinly supports the best crypto wallets, such as MetaMask, Ledger, Trust Wallet, and Electrum. This ensures that your wallet-to-wallet transactions are also considered when calculating your taxes.
What’s more, Koinly has access to more than 10 years worth of cryptocurrency prices. This ensures that your cost-price calculations are accurate. Before getting started with Koinly, you’ll need to ensure your country of residence is available. More than 20 countries are supported, including the US, Canada, the UK, and multiple EU member states. This ensures that tax calculations are in line with the correct reporting standards.
For instance, whether FIFO or LIFO should be used. After you’ve connected your exchanges and wallets, Koinly will begin the analysis process, which usually takes just 20 minutes. You’ll then receive a report, highlighting what taxes you owe. Koinly offers ready-to-file reports, which can then be sent to your respective tax authority.
Now let’s explore pricing. Koinly offers a free plan that limits you to 10,000 transactions. However, this doesn’t include tax reports, meaning you’ll need to do your own filing. This feature is crucial, so it’s best to opt for one of its paid plans. This ranges from just $49, $99, and $179 per year. This is based on 100, 1,000, and 10,000 transactions respectively.
|Integrations||400+ exchanges and 100+ wallets|
|Countries||20+ countries, including the US, the UK, Canada, Finland, Norway, Australia, and France|
|Pricing||A free plan is available but doesn’t come with tax reporting. Paid plans are charged annually, based on the total crypto transactions: $49 (100), $99 (1,000), $179 (10,000)|
- In our view, the best tax software for crypto
- Supports hundreds of exchanges and wallets
- Available in over 20 countries – ensuring local tax standards are met
- Tax calculations take just 20 minutes
- Supports tax harvesting
- The free plan doesn’t include crypto tax reporting
2. CoinLedger – Popular Cryptocurrency Tax Software for Beginners
CoinLedger is a popular crypto tax software that has served over 400,000 clients. Just three simple steps are required to generate tax reports. First, you’ll need to connect your exchange and wallet data. Within a few minutes, CoinLedger will analyze your transactions and show you a draft report. Finally, if everything looks correct, the final report will be generated, outlining your tax obligations for the respective year.
CoinLedger supports more than 100 platform integrations. This includes the best crypto exchanges, such as Kraken, Binance, Gemini, and KuCoin. That said, a major drawback is that CoinLedger is only compatible with nine crypto wallets. This includes MetaMask, Trust Wallet, Ledger, Exodus, Abra, Jaxx, Trezor, MyEtherWallet, and ZenGO.
If your wallet isn’t supported, you’ll need to upload the data manually. CoinLedger is also compatible with leading decentralized exchanges. This includes Uniswap, Maker, and SushiSwap. A key feature of CoinLedger is that it supports crypto tax harvesting. This can help you make strategic crypto disposals at optimal times. In doing so, you can lower or even eliminate your tax liabilities for the year.
In terms of eligibility, CoinLedger supports 16 countries. This includes the US, Japan, Ireland, Australia, New Zealand, and the UK. Similar to Koinly, CoinLedger offers a free plan but this doesn’t include tax reporting. Paid plans cost $49 for 100 transactions. Alternatively, for $99 and $199 respectively, you’ll get up to 1,000 and 3,000 transactions. These are one-time payments.
|Integrations||100+ exchanges and 9 wallets. Also supports popular DeFi platforms like Uniswap and SushiSwap|
|Countries||16 countries, including the US, the UK, Canada, India, Ireland, and New Zealand|
|Pricing||A free plan is available but doesn’t come with tax reporting. Paid plans are charged as a one-time payment, based on the total crypto transactions: $49 (100), $99 (1,000), $199 (3,000)|
- Simple 3-step process to calculate crypto taxes for the year
- Integrates with crypto exchanges, wallets, and DeFi platforms
- Trusted by over 400,000 customers
- Also supports NFTs
- The $199 option only covers up to 3,000 transactions
3. TokenTax – Fully Automated Crypto Tax Reporting With IRS Form 8949 Completion
TokenTax is the best crypto tax software for US clients seeking a fully automated reporting process. Not only in terms of extracting and analyzing transactions but submitting the relevant tax form to the IRS. After generating your report, TokenTax fills in Form 8949.
You can then add other capital disposals made during the year, such as stock or ETF investments. Or, if you’ve only invested in crypto, you can forward Form 8949 straight to the IRS. That said, TokenTax isn’t only suitable for US clients – its software is compatible with any country and currency. However, non-US clients will only receive their crypto tax report and not a completed form.
Nonetheless, TokenTax supports more than 100 external platforms, allowing you to import your crypto transactions via an API. This includes major crypto exchanges such as BitMart, Binance, Bitfinex, and Kraken. Leading crypto wallets are also supported, as are decentralized exchanges. There’s also support for NFT marketplaces like OpenSea.
If you’ve bought, sold, or transferred cryptocurrencies with an unsupported platform, you can manually upload the transactions through a CSV file. In terms of fees, we found that TokexTax is expensive when compared to other providers. For example, the cheapest plan costs $65 per year and this only supports a Coinbase API. For access to other exchanges and wallets, you’ll need to pay $199. There’s also a plan for professional traders, costing $1,599.
|Integrations||100+ platforms including exchanges, wallets, NFT marketplaces|
|Countries||All countries and currencies. Only US clients get completed tax forms.|
|Pricing||The basic plan costs $65 per year but only supports Coinbase APIs. Full functionality costs $199. The pro plan is aimed at high-volume traders, costing $1,599.|
- Supports all countries and currencies
- US clients can automatically complete their Form 8949
- Compatible with exchanges, wallets, and NFT marketplaces
- CSV files can be uploaded for non-supported platforms
- Doesn’t offer any free crypto tax software
- The $65 plan only supports Coinbase APIs
4. Crypto Tax Calculator – Top-Rated Crypto Tax Software for Web 3.0 Investors Backed by Coinbase Ventures
Backed by Coinbase Ventures, Crypto Tax Calculator is a great option for Web 3.0 investors. This is because Crypto Tax Calculator supports nearly 3,000 integrations across more than 100 blockchain standards. So, if you regularly buy and sell crypto on decentralized exchanges, Crypto Tax Calculator has you covered.
What’s more, Crypto Tax Calculator can also analyze DeFi income payments, such as staking, yield farming, and savings accounts. This is important, as DeFi yields are considered income by tax authorities. As such, income needs to be reported based on the price of the tokens on the day they were received. Crypto Tax Calculator also supports 265 crypto wallets, including hardware devices like Trezor and Ledger.
NFT traders will also find that Crypto Tax Calculator is a solid option. Not only does it analyze NFT marketplace transactions but it supports multiple strategies. This includes bulk-mints, sweeps, and burns. After all, NFT disposals are also liable for tax, just like conventional cryptocurrencies. Crypto Tax Calculator is available in 22 countries. This includes the US, Canada, Japan, Singapore, Australia, South Africa, the UK, and multiple EU member states.
The basic plan at Crypto Tax Calculator costs $49 per year. This covers up to 100 transactions and unlimited integrations. For $99, $249, or $499, you’ll get up to 1,000, 10,000, and 100,000 transactions respectively. The more expensive plans come with additional features, such as tax loss harvesting and smart contract integrations.
|Integrations||Nearly 3,000 integrations including centralized and DeFi exchanges, wallets, and NFT marketplaces|
|Countries||22 countries including the US, Canada, Singapore, Australia, the UK, and multiple EU member states|
|Pricing||Pricing depends on how many transactions need to be analyzed: $49 (100), $99 (1,000), $249 (10,000), $499 (100,000)|
- Best crypto tax software for Web 3.0 investors
- Supports nearly 3,000 platform integrations
- Compatible with over 100 blockchain standards
- All plans come with a 30-day money-back guarantee
- The $49 only covers up to 100 transactions
- Tax loss harvesting requires a $249 plan
5. CoinTracker – Free Crypto Tax Software Supporting up to 25 Transactions
If you’ve made less than 25 transactions this year, CoinTracker offers the free best crypto tax software. Unlike other providers, CoinTracker’s free plan does not come with integration limitations. You’ll have access to all supported exchanges and wallets and you can instantly download your tax report.
Moreover, the free plan also comes with cost-basis analysis and capital gains calculations. It also includes error reconciliation, ensuring that beginners are not intimidated by complicated transactions. CoinTracker supports 454 crypto exchanges, including both centralized and decentralized platforms. It supports just 27 crypto wallets, which is a drawback.
That said, the most popular wallets are covered, such as MetaMask, Ledger, Trezor, Trust Wallet, and Exodus. Moreover, CoinTracker supports CSV uploads, so unsupported transactions can be added manually. Another pitfall is that CoinTracker supports just 32 blockchain standards.
Although this includes the most commonly used networks, such as Bitcoin, Ethereum, Binance Smart Chain, Dogecoin, and Polygon. Crypto traders who need more than 25 transactions can purchase a paid plan. $59 gets you just 100 transactions, but this is increased to 1,000 when paying $199. For $599, you can analyze an unlimited number of transactions.
|Integrations||454 exchanges and 27 wallets|
|Countries||Full support for clients in the US, Canada, Australia, and the UK. All other countries come with partial functionality|
|Pricing||Free when reporting under 25 transactions. Higher limits are priced at $59 (100), $199 (1,000), $599 (Unlimited)|
- Free crypto tax tool for users with less than 25 transactions
- The free plan comes without limitations on integrations
- 454 crypto exchanges are supported
- Also offers error reconciliation – which is ideal for tax newbies
- Increasing to 100 transactions costs $59
- Only offers full support for the UK, Canada, Australia, and the US
6. Accointing: Holding Period Tool Offers Tax Optimization to Minimize Liabilities
Accointing is another good option for active crypto traders with a diversified portfolio. This is especially the case if you regularly dollar-cost average your investments, meaning you have multiple cost prices. In a nutshell, Accointing’s holding period tool enables traders to optimize their tax liabilities.
It will assess how long each cryptocurrency has been held, alongside its price on the day it was purchased. Accointing will then suggest whether a specific cryptocurrency should be sold to minimize tax. For example, its optimization strategy might suggest disposing of an unprofitable cryptocurrency held for under a year.
That said, Accointing only supports 27 exchanges for API integration. Transactions from other platforms need to be uploaded via a CSV or XLSX file. Moreover, Accointing only offers full tax reporting for seven countries, including the UK, Switzerland, the Netherlands, Germany, Australia, Austria, and the US.
Nonetheless, we like that the first 25 transactions at Accointing are free. After that, you’ll pay between $49 and $499, depending on how many transactions you need.
|Integrations||Only 27 exchanges come with API support. All other exchanges, plus wallets, require a CSV or XLSX file upload|
|Countries||Full support for clients in the UK, Switzerland, the Netherlands, Germany, Australia, Austria, and the US|
|Pricing||Free when reporting under 25 transactions. Higher limits are priced at $49 (100), $149 (1,000), $329 (10,000), $499 (50,000)|
- Holding period tool optimizes your crypto tax affairs with real-time suggestions
- The first 25 transactions are fee-free
- Accessible online or via an Android/iOS app
- Also offers a portfolio tracking tool
- 3.5/5 rating on TrustPilot
- Only 27 exchanges are supported for API connections
7. ZenLedger: Simplify DeFi Income Taxes for Staking and Yield Farming
ZenLedger is a popular crypto tax software that specializes in DeFi portfolios. Since its inception, ZenLedger has tracked more than 50 billion transactions for over 100,000 clients. In particular, ZenLedger is ideal for investors who regularly use DeFi income tools – such as staking and yield farming.
It simplifies tax calculations by tracking the cost price of tokenized rewards when they were received. ZenLedger can also track capital gains and losses made on DeFi platforms. It offers direct integration with over 400 decentralized platforms, including 1Inch, Aave, Uniswap, and PancakeSwap.
What’s more, ZenLedger covers more than 50 blockchain standards. This ensures that your entire DeFi portfolio is covered for the respective tax year. ZenLedger offers a free plan that tracks up to 25 transactions, but this doesn’t include DeFi integration. For this, you’ll need to pay $149 per year. This includes up to 5,000 transactions and full tax reporting.
|Integrations||400+ decentralized exchanges and 100+ DeFi protocols, covering 50+ blockchain standards|
|Countries||Over 150 countries and currencies|
|Pricing||The free plan offers up to 25 transactions but doesn’t include DeFi integration. Full functionality costs $149 per year, covering up to 5,000 transactions|
- Best crypto tax software for DeFi income
- Supports more than 400 exchanges and 100 DeFi protocols
- Tax reports take minutes to generate
- Premium support is available 7 days per week
- Minimum purchase of $149 is required to get full DeFi integration
8. Coinpanda – Advanced Crypto Tax Software Tracking Margin Trading Positions
Coinpanda is a good option for traders who engage with leveraged crypto products. This advanced tax software supports margin accounts, leveraged tokens, and crypto derivatives like options and futures. The tax calculations on these investment products can be daunting – considering the variables involved.
Coinpanda not only takes into account the opening and closing prices of your leveraged trades, but also financing fees and commissions. It supports more than 500 exchanges, including Binance, ByBit, Kucoin, and BitMEX. It also supports DeFi platforms like Algorand and Uniswap, not to mention over 115 wallets.
Virtually all cryptocurrencies are supported, considering Coinpanda is compatible with 242 blockchain standards. We also like that Coinpanda offers full tax reporting for over 65 countries – including the US, UK, and most of Europe. Prices vary depending on how many transactions you need. This ranges from $0 to $189, which covers up to 25 to 3,000 transactions, respectively.
|Integrations||500+ crypto exchanges, 115 wallets, and 242+ blockchain standards|
|Countries||Full support is available in over 65 countries, including the US, UK, and most of Europe|
|Pricing||One-time fees depend on the number of transactions: $0 (25), $49 (100), $99 (1,000), $189 (3,000)|
- Best crypto tax software for tracking leveraged positions
- Supports over 65 countries
- 4.6/5 rating on TrustPilot
- Crypto tax reports are generated in under 20 minutes
- The $189 plan is limited to 3,000 transactions
- Portfolios with over 20,000 transactions must request a custom quote
How to Find the Best Crypto Tax Software to Suit Your Needs
The crypto tax software reviewed above each comes with various pros and cons. We’ll now discuss our research methods when ranking the top providers.
Read on to choose the best crypto tax software for your requirements and budget.
Before looking at features, pricing, and other metrics – you’ll want to ensure your tax residence is supported. This is crucial, as crypto tax laws will vary from one country to the next.
Not only that, but each country has its own tax reporting requirements, such as how cryptocurrency cost prices should be calculated. What’s more, your country of residence could have unique tax benefits in place – such as capital gains allowances.
- For example, UK residents don’t need to pay taxes on capital gains of under £6,000, for the 2023/24 tax year. This will be reduced to £3,000 in 2024/25.
- And in Australia, crypto assets held for over 12 months benefit from a 50% reduction in capital gains tax.
- Similarly, US traders benefit by holding onto their crypto for over 12 months. According to the IRS, long-term capital gains rates are applicable, which vary from 0%, 15%, or 20%. Short-term capital gains – meaning holdings of under 12 months, are applied at ordinary tax rates.
These are just a few examples of crypto tax statistics. The key point is if your country of residence isn’t supported by the software provider, you won’t receive a personalized service. Instead, you’ll simply be provided with an overview of your profit and loss for the year. This means you could be paying more tax than you need to.
The next step is to assess which platforms the crypto tax software integrates with. And by ‘integrate’, we mean the software connects to your exchanges and wallets via an application programming interface (API). This completely automates the process, as you won’t need to manually input transactions.
Instead, the crypto tax software will import all of your previous trades and wallet transfers. Not only that, but it will know exactly when each transaction took place, meaning it can assign a suitable cost basis. If one of your exchange or wallet providers isn’t supported, the reporting process can be cumbersome.
You’ll likely need to export your transactions via a comma-separated values (CVS) file. The CVS file can then be uploaded into the crypto tax software. However not all software providers support manual CSV uploads, so you’ll need to check this before proceeding.
Tax Form Automation
For the most seamless experience, choose a provider that offers tax form integration. In simple terms, this means that your tax form will be filled out by the provider, allowing you to forward it straight to your local tax authority.
For example, if you’re based in the US, this will be IRS Form 8949. This form is used to report asset disposals for the tax year. It requires the asset name, purchase and sale dates, cost and disposal prices, and the total gains or losses. If you’ve executed a lot of crypto trades, filling in this information manually can be very time-consuming.
Support for DeFi Income
Crypto taxes come in two forms. First, there are capital gains – which is the profit made from buying and selling a cryptocurrency. All crypto tax software supports capital gains calculations. Second, taxes are also due on DeFi income tools, such as staking and yield farming.
If you’ve previously used one of these tools, it’s crucial your crypto tax software supports them. After all, DeFi rewards are usually viewed as income by tax authorities. This means tax needs to be paid regardless of whether you dispose of the rewards.
- For example, suppose you’ve got accounts with some of the best crypto staking platforms.
- On day 1, you receive 0.1 ETH in staking rewards. On that day, ETH is worth $1,500. This means you’ll need to report this cost price on your tax report.
- On day 2, you receive another 0.1 ETH. This time, ETH is priced at $1,600. Once again, you’ll need to report this cost price when compiling your tax form.
Fortunately, the best crypto tax software can automate the process for you. It will calculate the cost price of all DeFi rewards when they were received. And if the provider offers full support for your home country, it will use the relevant accounting procedure (e.g. FIFO or LIFO).
Tax Loss Harvesting
We’d also suggest choosing crypto tax software that supports tax loss harvesting. This can help you avoid crypto taxes legally, as per the reporting rules in your country.
If you’re new to tax loss harvesting, here’s how it works:
- First, the crypto tax software will analyze all of your transactions for the year. It also evaluates your current portfolio.
- The software concludes that you currently owe $10,000 in capital gains
- However, you are currently holding $7,000 worth of Bitcoin – which you originally paid $14,000 for.
- If you sell the Bitcoin, you’d make a $7,000 loss on that trade.
- The $7,000 loss can be offset against your $10,000 capital gains. This means you now owe just $3,000.
Depending on where you live, you might be able to instantly repurchase the cryptocurrencies you sold for tax loss harvesting reasons. This means you still have exposure to the cryptocurrencies but you’ve locked in the capital loss for the year.
In the traditional stock trading scene, US investors must be wary of the ‘wash sale rule’. This prevents investors from selling securities for tax benefits and repurchasing them within 30 days of the disposal. However, according to CNBC, the wash sale rule does not apply to cryptocurrencies.
Therefore, it’s wise to choose crypto tax software that can make suggestions on how to legally reduce or eliminate your taxes for the year. These harvesting opportunities might not have been spotted had you analyzed your transactions manually.
We found that in most cases, crypto tax software platforms charge fees based on how many transactions you need to analyze. This is a fair system, as you’re only paying for what you actually require.
However, some providers offer limited functionality on lower-priced plans. For example, free plans might cover up to 25 transactions but without localized tax reports. In some cases, free plans support limited exchange integration and other key features.
You should expect to pay around $50 for 100 transactions, and $100 for up to 1,000. Prices increase incrementally in line with the number of transactions.
Free Crypto Tax Software
Many crypto tax software providers offer a free plan. We found that this usually covers up to 25 transactions. Therefore, free plans will only suit inactive traders who rarely transact. Oftentimes, free plans come with higher transaction limits but limited functionality.
- For example, Koinly offers up to 10,000 transactions on its free plan. But this doesn’t include tax reporting, meaning you’ll need to manually work out profits and losses.
- ZenLedger’s free plan covers just 25 transactions and doesn’t include DeFi integration. This means you’ll need to purchase a paid plan if you’ve previously traded or earned cryptocurrencies on a decentralized exchange.
Ultimately, you should only choose free crypto tax software if it meets all of your requirements. For instance, it should integrate with all of the exchanges and wallets you use. It should also support your country of residence, which ensures you avoid paying more tax than you need to.
Crypto tax software is a must if you regularly transact. Not only in terms of trading but wallet-to-wallet transfers and DeFi income rewards. After all, each transaction must be included to generate an accurate crypto tax report.
Just make sure your chosen provider supports your country of residence and that it integrates with your exchanges and wallets. Pricing should also be considered, which usually depends on how many transactions need to be analyzed.