7 Greatest Crypto Tax Calculators [2024]

This information goals to assist crypto merchants, traders, and different cryptocurrency market individuals discover the greatest crypto tax calculator based mostly on the highest options, costs, and different particulars that may assist them make an knowledgeable determination. It additionally explains completely different fashions of crypto tax calculators, in addition to what elements to contemplate when selecting crypto tax software program.

Why use a crypto tax calculator?

At the same time as extra individuals proceed to spend money on cryptocurrencies, crypto tax continues to be an space many don’t absolutely perceive. Crypto tax calculation is usually a troubling course of coping with completely different crypto exchanges, digital crypto wallets, and cryptocurrencies, calculating internet income and losses, and ultimately submitting and submitting tax returns to the Inside Income Service (IRS).

Crypto tax calculators are designed to assist customers perceive their crypto taxes higher whereas automating and optimizing their bookkeeping processes to make sure compliance with the tax rules of their respective states or nations. In essence, a crypto tax calculator simplifies the method of calculating and submitting tax returns.

How a crypto tax calculator works

Crypto tax software program calculates positive factors and losses derived from completely different crypto occasions, which the IRS considers taxable. The calculator then both provides the knowledge to the person or robotically fills up the tax paperwork with the information for functions of submitting tax returns.

When used appropriately, crypto tax calculators will help scale back labor necessities and decrease the time spent in submitting tax returns. Crypto tax software program instruments permit customers to combine their crypto exchanges and wallets to allow them to pull their transaction information and historical past from there.

The software program works robotically and even fills some fields on tax paperwork whereas the person can fill in different data manually. To get began with a crypto tax calculator, the next 4 steps are vital:

1.  Add your crypto trade accounts to the calculator utilizing Utility Programming Interface (API) or Comma Separated Values (CSV) information;
2. Join your blockchain wallets utilizing public keys;
3. Preview your capital positive factors and losses in your crypto occasions;
4. Generate studies, obtain tax paperwork, and seamlessly file your tax returns.

The IRS permits customers to pick their e-file software program applications on the web site by following an official course of. Taxpayers who don’t know the way or which software program to make use of can make the most of the IRS wizard to select one and proceed based on the directions offered.

As a taxpayer, it’s worthwhile to present the required data on the calculator, together with your title, e-mail handle, adjusted gross revenue for the final 12 months, and your (or dependents’) IRS digital submitting PIN. 

You’re additionally required to incorporate your social safety quantity, W-2 kinds from employers, and every other 1099-INT kinds which present the curiosity paid from the earlier 12 months.

Different vital particulars embody the shape 1099-G, which exhibits refunds, credit, receipts from enterprise or further revenue documentation, and offsets of state and native taxes. You may additionally have to fill out data relating to unemployment compensation and social safety advantages the place relevant.

As soon as that is finished, you possibly can preview the capital positive factors or losses, calculate your taxes robotically, and even auto-generate and obtain your tax paperwork. Some crypto tax calculators even permit customers to commerce from throughout the app after integrating their crypto exchanges utilizing the software program’s API. 

After keying in all of the vital data, the software program completes the calculations, and then you definitely comply with the instructions to submit the tax returns.

Crypto newbie’s nook:

Greatest crypto tax calculators

Taxpayers who wish to simplify their tax submitting course of can think about using any of the next crypto tax calculators based mostly on their particular person wants, most popular options, specs, and pricing plans:

1. Koinly

The Koinly crypto tax calculator can join simply with all digital wallets, crypto exchanges, blockchain addresses, and investing apps. It provides taxpayers a transparent image of their crypto actions throughout completely different platforms. This crypto tax software program can work for companies and people trying to calculate and file native and worldwide taxes.

Koinly high options

• It robotically synchronizes information from all sources;
•  Koinly connects seamlessly with crypto exchanges, digital wallets, and blockchain addresses;
•  It permits customers to export their transaction information to different taxation instruments, together with TurboTax, TaxAct, and extra;
• The software program tracks the person’s portfolio throughout a number of wallets and accounts whereas exhibiting real-time particulars of revenue, loss, and tax liabilities.

Key specs

• Helps lengthy and short-term calculation;
• Good for automating tax studies;
• Provides a free plan and three paid plans: Beginner ($38.06 per tax 12 months for 100 transactions), Hodler ($86.87 per tax 12 months for 1,000 transactions), and Dealer ($164.96 per tax 12 months for 3,000+ transactions). These costs can change and due to this fact, customers ought to confirm the most recent costs earlier than signing up;
• Obtainable on free trial;
• Provides audit path;
• Helps import and export of knowledge by API or CVS information;
• Helps money move evaluation and price foundation;
•  Helps NFT (added manually) and DeFi taxes;
•  Obtainable within the US, UK, Canada, Australia, and plenty of different nations;
• Helps greater than 6,000 cash on greater than 350 crypto exchanges;
•  It really works with a number of crypto wallets.

Total, whereas Koinly is offered on paid plans, it additionally provides a free plan package deal, and the software program integrates many crypto exchanges and digital wallets. Customers ought to be aware that it has no autonomous tax-loss harvesting device. Moreover, tax studies are usually not included within the free plan.

2. Accointing

Accointing provides each crypto monitoring and tax reporting providers. This crypto tax calculator can work for hobbyists and superior crypto merchants.

It’s geared up with instruments that permit customers to trace the crypto market, analyze their portfolio, calculate tax loss, and generate their tax studies for a straightforward submitting course of.

Accointing high options

• Accointing permits customers to investigate their crypto portfolio to assist them make higher progress sooner or later;
• It permits customers to trace real-time crypto market actions;
• Customers can calculate their positive factors and losses;
• It generates tax studies, which customers can obtain and use for submitting taxes;
• Accointing helps tax-loss harvesting.

Key specs

• Accointing provides a free starter plan and three paid plans: Hobbyist ($79 per tax 12 months), Dealer ($199 per tax 12 months), and Professional ($299 per tax 12 months). Every of the pricing plans comes with a 30-day money-back assure;  
• It helps a free trial for as much as 25 transactions;
• Customers can import and export information by CSV information;
• It helps brief and long-term tax calculation;
• It helps money move evaluation and price foundation;
• Integrates with most of the hottest tax submitting software program;
• Helps a number of cryptocurrencies, digital wallets, and crypto exchanges;
• Helps handbook monitoring of NFT transactions;
• The software program is optimized for cell use to assist customers observe their crypto actions on the go;
• It’s obtainable within the US, UK, Austria, Switzerland, Germany, and Australia.

Total, Accointing has options that put it among the many greatest crypto tax calculators to contemplate. It’s simple to arrange and get began both on a desktop or cell gadget. It tracks over 20,000 cryptos and integrates greater than 450 crypto exchanges. Notably, Accointing free model helps as much as 25 transactions solely.

3. TokenTax

TokenTax is each a full-service crypto tax accounting agency and cryptocurrency tax calculation software program that’s greatest fitted to superior customers and companies. It’s designed with built-in automation options that assist calculate sophisticated taxes for crypto exchanges so taxpayers can simply file their taxes.

TokenTax software program generates automated kinds and real-time tax studies to save lots of customers’ time and assist them keep ready whereas making extra strategic tax choices.

TokenTax high options

• It provides audit help and helps all main crypto exchanges;
• It helps tax-loss harvesting;
• Computerized integration with different crypto exchanges and tax calculation instruments to collect correct information;
• Availability of certified crypto accountants.

Key specs

• TokenTax provides three pricing plans: Primary ($65 per tax 12 months), Premium ($199 per tax 12 months), Professional ($799 per tax 12 months), and VIP ($3,499 per tax 12 months);
• It has no free trial package deal;
• DeFi and NFT help;
• Margin and futures buying and selling help;
• Information import and export by way of CVS and API information;
•  Helps brief and long-term calculation;
• It helps greater than 100 cryptocurrencies
• FIFO, LIFO, Minimization, and common price tax legal responsibility calculations;
• Tax-loss harvesting dashboard;
• Mining and staking revenue studies;
• Ethereum gasoline payment studies;
• Customized enterprise studies;
• Actual-time preview of the tax invoice.

Total, TokenTax is an all-in-one crypto tax machine that may calculate and file taxes. Its tax-loss harvesting characteristic permits customers to chop their purchasers’ tax liabilities whereas simplifying sophisticated crypto tax circumstances.

4. ZenLedger

The ZenLedger crypto taxation software program helps integration with over 400 crypto exchanges, greater than 100 DeFi protocols, and over 10 NFT platforms. The platform is frequently including extra integration to assist customers observe their crypto trades and see their income and losses, in addition to their tax obligations.

ZenLedger high options

• Customers can calculate their income and losses utilizing their transaction historical past;
• It provides integration with crypto exchanges and different tax calculation instruments, together with TurboTax;
• Tax-loss harvesting instruments and built-in accounting studies;
• Tax professionals can be found.

Key specs

• ZenLedger provides a free plan that helps as much as 25 transactions and 4 pricing plans: Starter ($49 per tax 12 months), Premium ($149 per tax 12 months), Govt ($399 per tax 12 months), and Platinum ($999 per tax 12 months). All plans supply a beneficiant 1-year refund coverage;
• A unified spreadsheet the place customers can see all their crypto transaction particulars in a single, easy-to-read spreadsheet;
• Entry to a tax skilled;
• Decentralized purposes supported.

Total, ZenLedger has a devoted buyer help crew to assist prospects seven days every week, together with evenings, by chat, e-mail, or cellphone. It additionally provides sturdy security measures like two-factor authentication (2FA).

5. TaxBit

TaxBit is one other crypto tax calculator designed to assist customers simplify their tax submitting processes. It was based by CPAs and tax attorneys to assist customers observe their crypto actions and rework their information into crypto tax studies. 

This crypto tax resolution comes with automation expertise that synchronizes information and provides customers closing tax studies.

TaxBit high options

• Immutable audit path and issuance of kind 1,099 for crypto exchanges;
• Privateness and security-focused with SOC1, SOC2, and ISO27001 certifications;
• Portfolio optimization permits customers to save lots of on their capital positive factors tax with a tax-loss harvesting part;
• Works for people, governments, and companies;
• A straightforward-to-use dashboard that shows tax place, asset balances, and unrealized income and losses;
• A number of crypto trade integrations and greater than 2,000 currencies supported.

Key specs

• Integration help for Coinbase and PayPal;
• Three pricing plans: Primary ($50 per tax 12 months), Plus ($175 per tax 12 months), and Professional ($500 per tax 12 months). It additionally provides a free model with limitless transactions and linked pockets addresses; 
• Provides price foundation and audit help;
• Helps money move evaluation and brief and long-term calculation;
• Helps information import and export, NFT, and DeFi taxes;
• Works on all crypto exchanges;
• No free trial;
• Handbook formatting of CSV information;
• Solely works for taxpayers reporting to the IRS within the USA.

Total, TaxBit stands as among the finest crypto tax calculators available on the market. Its automation characteristic permits it to synchronize customers’ transactions from throughout numerous crypto exchanges whereas simplifying their tax submitting course of.

6. CoinTracking

CoinTracking works for diversified traders and merchants, serving to them observe their crypto actions throughout completely different exchanges. It gives customers with particulars of market tendencies for various cryptocurrencies utilizing its automation options.

With greater than 1.2 million lively customers, CoinTracking provides customized evaluation, commerce imports, tax declaration, {and professional} assist.

CoinTracking high options

• Provides customers the instruments to watch the tendencies within the crypto marketplace for knowledgeable buying and selling choices;
• Generates studies of income and losses;
• Permits customers to import and export information;
• Generates crypto tax studies for crypto merchants and crypto firms.

Key specs

• CoinTracking provides a free plan that helps as much as 200 transactions and three different pricing plans: Professional ($10.99 per 30 days billed yearly), Professional ($16.99 per 30 days billed yearly), and Limitless ($54.99 per 30 days billed yearly).
• CoinTracking helps Android and IOS apps;
• It helps greater than 5,000 crypto cash and exchanges;
• CoinTracking helps API-based buying and selling with detailed charting and portfolio monitoring.

Total, CoinTracking is appropriate for each new traders and seasoned crypto merchants, permitting them to trace their transactions in real-time. It provides skilled help by skilled crypto tax professionals who can information customers on methods to enter their tax particulars on the dashboard. 

Moreover, CoinTracking provides a company package deal that works particularly for taxpayers that deal with a number of purchasers and crew members akin to accountants, tax attorneys, funding, and buying and selling firms, amongst others.

7. BitcoinTaxes

BitcoinTaxes provides quick crypto calculations, trade imports, and the flexibility to obtain and file. It permits taxpayers to file their crypto taxes simply whether or not they have traded, spent, or moved their cryptocurrencies. Customers merely have to add or add transactions from numerous crypto exchanges and digital wallets they’ve used, along with any crypto they might already personal, and the software program will calculate their capital positive factors.

BitcoinTaxes high options

• It calculates capital positive factors and losses;
• It provides full tax preparation providers delivered by certified tax attorneys, CPAs, and licensed brokers within the US and Canada;
• Tax-loss harvesting instruments;
• Professionals to advise taxpayers on tax planning.

Key specs

BitcoinTaxes provides numerous pricing plans for people, merchants, and tax professionals. However all variations embody all their commonplace options, akin to calculation of capital positive factors and losses, FIFO and particular identification, studies, and software program imports, amongst others.

Pricing plans are as follows:

• Free: As much as 20 buying and selling transactions; all commonplace options; e-mail help;
• Premium ($44.95 per tax 12 months): As much as 1,000 buying and selling transactions; all commonplace options; e-mail help;
• Premium Additional ($54.95 per tax 12 months): As much as 5,000 buying and selling transactions; all commonplace options; e-mail help;
• Deluxe ($64.95 per tax 12 months): As much as 10,000 buying and selling transactions; all commonplace options; e-mail help.

BitcoinTaxes additionally supply dealer pricing for numerous classes as follows:

• Dealer 50k ($139 per tax 12 months): As much as 50,000 transactions; all commonplace options; e-mail help;
• Dealer 100k ($199 per tax 12 months): As much as 100,000 transactions; all commonplace options; e-mail help;
• Dealer 250k ($264 per tax 12 months): As much as 250,000 transactions; all commonplace options; e-mail help;
• Dealer 500k ($399 per tax 12 months): As much as 500,000 transactions; all commonplace options; e-mail help;
• Dealer 1M ($529 per tax 12 months): As much as a million transactions; all commonplace options; e-mail help;
• Dealer Limitless (Contact the corporate for pricing): Limitless transactions; all commonplace options; precedence e-mail help; devoted {hardware}.

Extra data on crypto tax calculators

Crypto tax calculators can be found in numerous sorts, which permit taxpayers to decide on what greatest works for them based on their taxation and monetary wants. Widespread sorts embody:

• Type-based tax software program: This sort of crypto tax calculator is sort of a tax doc structure the place a taxpayer fills within the right information within the corresponding locations based on the tax doc;
• Interview-based tax software program: This sort of tax calculator collects data from the person in a question-and-answer format to offer the mandatory and proper data stuffed in related sections;
• Digital submitting software program: Often known as e-filing software program, this kind of crypto tax software program is safer and reduces submitting errors and time. It permits customers to immediately switch their tax data from their computer systems on to the IRS.

The IRS permits e-filing from its web site by merely filling out the required kinds. This may be finished both on-line or by downloading the kinds, adopted by submission. The e-filing software program guides customers by the steps to have them fill the paperwork appropriately earlier than it calculates the bills and deductions utilizing the knowledge offered.

The e-filing software program is also up to date with latest paperwork from the IRS, so customers don’t have to fret about getting the most recent paperwork from a separate website. There’s no importing and downloading of kinds. Nevertheless, most e-filing kinds are paid to entry superior options. Moreover, they often don’t mix with all crypto exchanges. Most of them additionally don’t incorporate further funding alternatives, together with staking, mining, and others.

Elements to Think about When In search of a Crypto Tax Calculator

The next elements are vital to contemplate in terms of selecting a crypto tax calculator:

Obtainable integrations

One of the best crypto tax calculators combine with main crypto exchanges, akin to Coinbase, Kraken, and Binance, amongst different alternate options. This allows customers to seamlessly pull their information and transaction particulars from numerous crypto exchanges with out having to manually key them in. The tax calculation device also needs to observe the variety of cash traded, the ‘hodl’ period, and the dates of transactions.

Along with crypto exchanges, customers also needs to examine whether or not a crypto tax calculation device helps completely different blockchains, crypto cash, DeFi protocols, futures, and NFT buying and selling, amongst others. Extra integration permits customers to generate a wider view of their crypto transactions and actions throughout completely different platforms.

Supported nations

Some crypto tax calculation instruments help solely chosen nations absolutely whereas providing partial help to different nations. Customers want to search out crypto tax calculators that handle tax necessities of their respective nations. 

As an example, a crypto tax calculator that helps extra nations can decrease the possibilities of handbook uploads or switching to completely different software program if the person is exterior their area.

It’s additionally vital to contemplate whether or not a crypto tax calculator provides downloadable tax kinds and unique accounting strategies akin to First-In-First-Out (FIFO), Final-In-First-Out (LIFO), Highest-In-First-Out (HIFO), in addition to Adjusted Value Base (ACB).

Safety and status

Crypto tax calculators with an excellent status are dependable and reliable, owing to their partnerships with respected monetary expertise and accounting firms. As an example, crypto tax software program applications that associate with credible tax instruments akin to TurboTax and people constructed by CPAs, crypto veterans, and tax attorneys have a tendency to achieve extra credibility.

Safety is a crucial part of a tax calculator to make sure that the customers’ information stays protected and safe. A software program program with a clear coverage usually gives that no person harvests the knowledge offered by the shopper. The supply of read-only entry to crypto trade accounts can even be sure that the person’s funds stay protected when throughout information import.

Pricing per tax 12 months and transaction restrict

One other level to contemplate is the pricing per tax 12 months, which for many firms, relies on the transaction restrict. Some crypto tax calculators supply free providers that permit prospects to calculate and preview their tax studies as much as a given transaction restrict and cost solely once they wish to obtain these studies.

The free model permits customers to find out whether or not the crypto tax calculator has the suitable options for his or her wants earlier than they will shell out any quantity. 

Buyer help and ease of use

The primary concept behind utilizing a crypto tax calculator is to simplify the tax submitting course of. This suggests that customers might wish to think about crypto tax calculators with extremely intuitive interfaces to permit for straightforward navigation of the platform. Moreover, customers ought to have the ability to import their information and generate tax studies quick with out errors or handbook changes.

On the identical be aware, a accountable buyer help crew might be useful in addressing prospects’ issues in real-time. To attain this purpose, some crypto tax calculation firms combine dwell chat help on their platforms, whereas some publish instructional sources to offer extra data on submitting crypto taxes.

Last Ideas

Paying taxes is an obligation for any accountable citizen, and cryptocurrency holders are usually not an exception. In truth, the (IRS) is critical about tax evasion, and failure to file taxes might lead to audits, charges, and even jail time.

Crypto tax calculators assist customers streamline the submitting course of by monitoring their information throughout all their crypto platforms and actions. They auto-generate tax studies and guarantee full compliance with tax legal guidelines inside their respective nations.

Notably, the options listed underneath the talked about tax calculators might not be exhaustive, or they might change as the corporate deems match. It’s, due to this fact, vital for customers to conduct an in-depth examine earlier than signing up for any crypto tax calculation program.

Disclaimer: The content material on this website shouldn’t be thought-about funding recommendation. Investing is speculative. When investing, your capital is in danger.

FAQs on greatest crypto tax calculators