Living in this modern world where the ordinary person can buy bitcoin, trading in cryptos has become very common but at the same time filing and calculating crypto taxes can be an extremely tiring task, especially when you spend a large amount of your time on trading.
This is where Crypto tax calculating software serves as a solution.
A Crypto tax software helps users in tracking, managing, and calculating their profits and losses incurred on any transaction involving cryptocurrency.
In this article, we will be discussing the top 5 Crypto tax software which can help you in efficiently preparing for your crypto tax.
TokenTax is among the most prominent crypto tax calculation and reporting software used in the market. It has made the complete tax calculation process hassle-free as it integrates with each kind of crypto exchange. Moreover, thousands of cryptocurrencies are a part of this platform which means that you can work with any crypto on this software. If you are looking for a platform that helps you to minimize your losses and maximize your profits, TokenTax is the best option to go for. TokenTax provides a minimization algorithm that recommends to the user which coins he should sell to minimize his taxes. You can make optimum use of the tax system using this platform. Also, you can access TokenTax globally.
Next on the list is another easy-to-use tool Koinly. It supports transactions from over 100 countries and follows the accounting system of each one of them which enables you to generate your tax reports according to the accounting system of your country. The most notable future of this platform is its Modern as well as user-friendly UI. With the help of Koinly, you can easily connect with all your wallets and services so that you can have a clear picture of all the money you have invested across various platforms. You can track your transactions with the help of detailed graphs of profit/loss provided by Koinly.
CoinTracking is another great software to ease your burden of cryptotax. It is a popular cryptocurrency platform with over 930K active users. This platform provides tools that can convert your data into a form of a comprehensive set in one dashboard. It can help you to make better decisions by keeping a track of your crypto records and trading transactions. It also provides its users with various tutorials in the form of FAQs and videos. CryptoTracking provides tools that can help you to study the trends in crypto coins. It supports over 6000 cryptos which means there’s very little possibility of your crypto not being part of this platform.
If you are a non-technical person or a beginner in the crypto market, Zenledger might be the best option for you to rely on while calculating and reporting your crypto taxes. It has a simple and easy-to-use dashboard that helps in navigating and calculating taxes in a hassle-free manner. It supports a vast number of crypto and fiat currencies. It is currently providing simplifying services to over 15K customers. It uses your transaction history to determine your losses and gains. Apart from crypto taxes, Zenledger can also help you with your non-crypto taxes. It comes with plans for managing both types of your taxes. If you’re a professional and provide crypto tax services to people, Zenledger might be the best option for you.
CoinTracker is another excellent solution that helps you to easily handle your taxes and track your portfolios. Currently, it has more than 500,000 active users. It can sync your transaction data from unlimited crypto exchanges. CoinTrackersupports more than 2500 cryptocurrencies. Moreover, this platform also provides prominent analysis tools for crypto investments which can help you in making better decisions while trading.
It’s always a safe move to have a reliable solution for figuring and filing your crypto taxes to avoid any sort of penalties or overpaying taxes.