Once the bull market ends and you sell at the top, you’ll have to meet the final boss: taxes. To help you in future endeavors, I’ve compiled a list of the top 10 best crypto tax software in 2022.
Nothing is certain in this world but death and taxes. No matter how much money you make investing in cryptocurrencies, you still have to deal a final blow to your portfolio by paying taxes. Taxes vary from country to country and range from 0% to 55%.
The laws regarding cryptocurrency taxes are different in each jurisdiction. Some charge taxes on the total amount of money you’ve earned, while some charge taxes on each trade you make. Certain countries even consider wallet transfers and airdrops taxable events, forcing you to track and record every transaction you make.
Sadly for you, there are no crypto-friendly accounting managers. But luckily enough, there is plenty of crypto tax software online that’ll even generate reports for you and help you log everything.
The Best Crypto Tax Software in 2022
After doing my own research (always DYOR!) I’ve compiled a list of the 10 best crypto tax software in 2022. The section offers reviews of each platform. Later, I’ll also show you what to look for in a tax software platform and how to choose one.
Keep in mind that I’ve ranked the platforms below randomly. I highly advise you to explore each platform before making a final decision. Which platform fits you best boils down to your personal needs and wants.
Koinly is a crypto-focused tax software that allows you to generate local tax reports for over 20 countries. You can generate a report in mere minutes. All you have to do is connect your blockchain wallet and link your exchanges via API keys, and Koinly will create an accurate tax report compliant with your country’s laws.
Koinly tells you how much profit or loss you’ve made this tax year and how much you owe to the government. It also tracks your portfolio, ROI, and growth. Their user-friendly interface shows you an insightful overview of your performance.
After connecting everything correctly, you can download your tax documents in various formats – some of which are instantly filled. For example, Koinly can generate a filled-in IRS tax format that you can instantly file.
The best thing about Koinly is how easy it is to track everything. Even if you’re using multiple wallets, like a non-custodial wallet for DeFi, an exchange account for futures trading, or a blockchain wallet for holding spot, Koinly will sync all the transaction history data and provide an accurate report for you.
Generates locally-compliant tax reports for more than 20 jurisdictions
Connects and syncs all kinds of wallets within minutes
Great for both investors and accountants
Has more than 700 positive reviews on Trustpilot
Provides taxing support exclusively on higher-priced plans
Integration with +300 exchanges and wallets for more than 700 currencies
Accointing features integrations with more than 400 crypto platforms. You can import CSV or XLSX files and connect to blockchains, wallets, and exchanges via API or by pasting a public address.
The platform generates generally-accepted tax reports which are compliant with most legal jurisdictions. It also classifies transactions to clarify whether you have mined, staked, or traded assets. The tax reporting tool also showcases how long you have held certain assets so that you can optimize your tax gains on assets held for longer than a year.
Accointing produces reports in LIFO, FIFO, and HIFO formats. You can sign up for free and test their basic tax software.
Easy to use and generate reports
Supports more than 400 wallets and exchanges
Free version has a limit of 25 transactions
Tax support available only on more expensive plans
Features a portfolio tracker that helps you explore the market and monitor assets
Generates tax reports in various formats
Analyzes your portfolio’s performance
Offers several tax reporting guides specialized for crypto investors
CoinTracking is a reputable cryptocurrency tracking and tax reporting software with more than a million active users. The platform analyses your portfolio’s performance and provides real-time reports that showcase realized and unrealized gains. It supports price-tracking for more than 21,000 crypto assets.
The platform lets you create customizable crypto reports that you can use for personal analysis. You can generate profit and loss reports, track cryptocurrencies via charts, and more.
You can easily import your trading history from exchange accounts via an automatic API import. You can also link your blockchain address or import CSV documents. Cointracking lets you generate tax reports legally compliant with more than 100 countries. You can use 13 tax methods and classify transactions based on your activity.
The company behind Cointracking also features a team of tax advisors who can help review your reports. The solution is available to traders, as well as crypto companies.
Support for +20,000 crypto assets
Allows you to monitor and trade on exchange accounts via API
Has a support team that can review your reports
Available as a desktop or mobile app
The free version is limited to two wallets
Might not be as beginner-friendly compared to other solutions
Has integrated more than a hundred crypto exchanges
Rich with educational resources about crypto taxing
The platform features an extremely user-friendly dashboard that enables you to monitor your portfolio. You can track how much capital you have allocated to each asset and see your recent transactions. You can also obtain tax reports from each year.
Using ZenLedger to generate tax reports boils down to a three-step process.
First, you have to import your transactions. You can do this by connecting to exchange accounts via API, posting your public address, or adding a CSV document.
Next, you have to review your transactions to make sure you imported everything correctly. ZenLedger has a solution that flags missing transactions to make your report more accurate.
The third and final step is to download your tax report. You can generate reports in various forms. For example, you can generate Form 8949, Schedule D, and Schedule 1 reports.
Has both live technical support and a team of tax professionals
Supports even the most niche crypto platforms
Easy to generate reports and monitor portfolio via a user-friendly dashboard
Charges services according to the number of transactions processed
Tax reports are not legally compatible with all global jurisdictions
Advanced features available only in the more expensive subscriptions
Supports over 400 exchanges, 100 DeFi protocols, and 10 NFT platforms
Features integration with TurboTax
Account data is encrypted and secured by 2FA
Offers tax-loss harvesting tool
Taxbit is a complete tax and accounting software solution that connects the entire digital asset ecosystem: from investors to governments and enterprises. The platform was designed by tax attorneys and CPAs representing the industry’s biggest tax experts. Taxbit provides tailored solutions to governments, companies, and individuals.
The company claims to have processed more than 30 million tax reports in 2022 alone. More than five million users have used Taxbit to import and process transactions from various exchange accounts, NFT protocols, and blockchain wallets. Taxbit features integrations with more than 500 crypto platforms.
The tax generation experience is completely automated. All you have to do is import your transaction history, and Taxbit will handle the rest. Many users praise Taxbit’s user-friendly and easy-to-use platform.
Made for enterprises, investors, and even governments
Offers support from the industry’s greatest tax experts
Taxbit is SOC1, SOC2, and ISO 27001 certified
Optimizes taxes via tax-loss harvesting tool
Automated portfolio sync is limited
Supports over 500 crypto platforms
Intuitive dashboard that showcases portfolio performance, tax estimates, and balances
Allows you to analyze your portfolio
Accurately outputs tax data into an exportable report
6. Token Tax
TokenTax is a full-service crypto tax accounting firm that offers the perfect crypto tax calculation software. The platform helps you process complex crypto transactions by calculating taxes based on your transaction history.
The premise behind TokenTax is that it not only generates tax reports but also helps you file them. The company’s accounting team can support you in any way possible; all you have to do is contact them.
TokenTax’s platform features integrations with hundreds of crypto apps and platforms. You can import transaction data via API or by submitting a correctly-formatted CSV file.
Compliant with most global legal jurisdictions
Supports hundreds of exchanges and protocols
Features tax-loss harvesting tool
Seamlessly syncs all data
Doesn’t come with a free plan
The basic plan is feature-barren
Features professional accounting and support services
It can both generate reports and file them for you
Has international trading tax support team
Supports a range of dApps, DeFi protocols, and NFT exchanges
CoinLedger is a platform used by more than 300,000 investors for calculating cryptocurrency and NFT tax. It comes with international support and a free portfolio tracker that you can use to observe your performance.
Calculating taxes on CoinLedger is easy. All you have to do is import your crypto transactions, preview the report, and generate a legally-compliant tax report. You can easily import transaction history from your favorite exchanges or wallets.
CoinLedger also classifies transactions based on whether you have mined, staked, interacted with a liquidity pool, or received an airdrop. And when you’re done reviewing, you can export your report into a fillable document that you can send to your accountant or upload to a tax filing platform.
Features plenty of integrations
Easy to use and navigate
More than 500 positive reviews on Trustpilot
Dedicated NFT tax reporting section
High-frequency traders will have to opt for higher-priced tiers due to transaction caps
Easily navigable dashboard
Produces reports in LIFO, HIFO, and FIFO formats
14-day money-back guarantee
Day Trader: $99
High Volume: $199
CoinTracker is a crypto tax reporting software and automated portfolio tracker. The platform helps you easily sync wallets and generate tax forms compliant with most regulatory jurisdictions. CoinTracker is partnered with Coinbase, OpenSea, Turbotax, and H&R Block.
The app, available on iOS and Android, helps you track your portfolio’s performance and monitor the market in real time. Your transaction history is unified across all wallets and presented on a user-friendly dashboard. You can search and filter transactions according to assets, holdings, and gains.
CoinTracker supports more than 300 exchanges, as well as over 10,000 crypto assets. The app also comes with a tax-loss harvest tool that optimizes your taxes and helps you pay less.
Available both online and on mobile (iOS & Android)
Offers numerous tax report formats
Supports tracking over 10,000 cryptocurrencies
Free plan available
Free plan supports only up to 25 transactions
No live chat for free users
Automatically syncs transaction history from all wallets
Compatible with TurboTax
30-day money-back guarantee
Unlimited plan provides you access to personalized CPA
Unlimited: Must contact for more information
9. BearTax (Fyn)
Fyn (formerly BearTax) is tax reporting software for crypto assets that fetches, compiles your transaction history, and generates tax reports. Fyn is created for Web3 and businesses, as well as individual traders and investors.
Fyn provides all the required tax and accounting information you need to file your taxes. The platform has integrated nearly every single crypto exchange. It also helps you save on taxes by properly clarifying your transactions.
The tax software works globally and supports 25 countries in total, some of which include the United States, Australia, Canada, Japan, and India. Fyn has processed more than 64 million transactions.
Supports most legal jurisdictions
Offers support for both businesses and investors
Has 24/7 customer support
Free version only processes up to 20 transactions
Offers LIFO and FIFO tax formats
Auto-generated tax reports
Gains and losses monitoring
Classifies transactions in up to 11 different categories
10. Crypto.com Tax
Digital asset exchange and crypto card provider Crypto.com offers a free and dedicated tax software for investors. The platform connects with most major exchanges and supports both Bitcoin and Ethereum blockchains. The platform is available to users from the USA, Germany, Australia, UK, and Canada. It supports over 20 exchanges and generates reports compatible with popular tax filing software and IRS forms.
Once you connect your wallets, Crypto.com syncs your entire transaction history and generates a legally-compliant tax report. All you have to do is import a CSV file or connect your wallets via API. The platform is easy to navigate due to its minimalistic UI design.
Completely free to use
Beginner-friendly user interface
Features over 20 exchanges
Only offers basic tax reporting features
Some users report transaction syncing issues
Does not support blockchains aside from BTC and ETH
Automated tax generation
Syncs transaction history via API keys
Handles properly formatted CSV files
Doesn’t require a crypto.com account
Cryptocurrency investors make thousands of transactions each year. Doing your own taxes is almost impossible in the crypto space due to the heavily complex legal status of cryptocurrencies. And the number of transactions and different types of interactions investors make daily doesn’t help either. You must classify each NFT trade, token swap, DeFi loan, and margin trade you make.
The best crypto tax software can help you remove the headache of reporting taxes by creating auto-generated tax reports. These reports are often compatible with global tax standards and come in formats such as LIFO, HIFO, and FIFO. Some platforms often allow you to file your taxes with the help of a 3rd-party instantly.
Crypto tax software comes in handy, considering all the complications. Plus, some platforms have special tools that help you save on taxes by creating accurate reports and classifying each transaction.
About The Author:
Marko is a crypto enthusiast who has been involved in the blockchain industry since 2018. When not charting, tweeting on CT, or researching Solana NFTs, he likes to read about psychology, InfoSec, and geopolitics.