When it comes to calculating and reporting digital asset taxes, the best crypto tax software will save you time and effort. It will make the process simple and straightforward, and it also offers tips for reducing taxes in the coming financial year. Koinly is a popular choice for its speed and ease of use. It can calculate tax amounts for your digital assets in under 20 minutes and is compatible with more than 300 wallets and exchanges. You can download your tax information as a csv file or import it directly from your cryptocurrency exchanges.
The best cryptocurrency tax software will integrate with the best bitcoin platforms, and many of these systems come with APIs that process requests between different programs. They can also automatically import data from your wallet, which will simplify the process of filing tax returns. However, you may have to hire a crypto tax advisor if your situation is particularly complicated. Fortunately, the best software will integrate with the majority of cryptocurrency exchanges, making it easier for you to file taxes than ever.
ZenLedger is another popular option. Its user-friendly interface ensures that you don’t overpay taxes. Prices range from $99 to $299 per year. ZenLedger also includes support for exchanges, tax reports, and CPA access. Pricing for this software varies by the amount of transactions you make. The highest plan, with unlimited transactions, will cost $299. The lowest pricing plan is for a single user.
Cointracker supports 14 different tax methods and is available in over 100 countries. It also supports data encryption and two-factor authentication. Koinly also includes export and import functionality for your transactions, so you can keep all your information in one location. It is easy to finish your crypto taxes, even if you’re traveling to a foreign country. So which crypto tax software is best for you? We’ve summarized three of the most popular programs.
The best crypto tax software will also aggregate trade data from multiple exchanges. It will help you to maximize potential deductions. In addition to calculating gains and losses, this software will also enable you to report your cryptocurrency transactions. Its features can make your life easier and help you avoid making costly mistakes. And don’t forget to check with your tax advisor if you don’t have a license. They’re happy to help!
Taxbit is an excellent option for crypto tax reporting. Its forms are easy to complete and can be linked to other exchanges, such as BlockFi. If you’re using non-fungible tokens, TaxBit is the better choice. But the software isn’t foolproof. To make sure you have all the details right, you may want to use a CPA to review the information. Then, you can submit your crypto tax report to the IRS.
Those who invest in cryptocurrencies often need to use the premium version of Cryptotax.com. It supports unlimited imports from exchanges and generates unlimited tax reports. While CoinTracking has a free version, it requires discipline to manually upload your trade history. Additionally, it doesn’t integrate with exchanges, so you’ll have to manually enter your trade history. TokenTax is a powerful tool for businesses and advanced users.