Like all the other cryptocurrency tax tracking softwares mentioned here, BearTax also supports all the major exchanges and cryptocurrencies. Their key selling points seem to be around the diversity of features, pricing options, and functionality that they offer, with pricing options available tailored from the basic cryptocurrency enthusiast to experienced cryptocurrency swing traders who would need to process several thousand transactions. ![]() Cointracker also has an IOS & Android app for mobile users.īearTax is the last major cryptocurrency tax tracking tool on this list and upon the first impression, is very reminiscent of Coinbase in its simple UI and design language. For first time users who trade cryptocurrencies through Coinbase, Cointracker also enables logging in directly through one’s Coinbase account, thus reducing barriers to entry for such investors. Cointracker also supports all the major accounting methods and their forms can be exported to third-party softwares like TurboTax and TaxAct, along with directly generated forms like the IRS Form 8949 (USA). Cointracker has several useful features including a performance tracker that visualizes one’s portfolio performance over a specified time-scale, thus proving to be a seamlessly handy portfolio tracking software too. Like the other tools mentioned here, Cointracker aims to be a unified interface for cryptocurrency users to calculate their cryptocurrency taxes and track their portfolios. They also support trade imports from most of the major exchanges including Coinbase, Gemini, Kraken, Bitfinex, etc, and support several currencies and tax reporting methods. Depending on one’s needs, Bitcoin.Tax may fit your bill if you are looking for a more traditional cryptocurrency accounting and tax tracking software. Upon initial use, Bitcoin.Tax seems to be tailored to old-school accountants and older user segments, with their interface not being very clean and using a lot of text throughout. Similar to Cointracking, Bitcoin.Tax has also integrated and partnered with TurboTax to support the seamless importing of cryptocurrency tax data into one’s mainstream income tax reports too. However, its UX design and interface definitely feels dated compared to some of its competitors including Koinly and Cointracking. Bitcoin.Taxīitcoin.Tax is one of the oldest cryptocurrency portfolio and tax-tracking software amongst its competitors and is a very trusted software amongst long-time crypto investors and enthusiasts. It is also compatible with third-party tax softwares like TurboTax depending on the country you are based in. With the prices for over 7,000 coins and assets, Cointracking promises to be an all-in-one tool for your cryptocurrency tax and portfolio tracking needs. CoinTrackingĬoinTracking analyzes your trades and generates real-time reports on profit and loss, the value of your coins, realized and unrealized gains, reports for taxes and much more. Their reports also support all the major accounting methods including the ACB (Average Cost Basis) and the FIFO (First in First out) method. Koinly seems to have an upper edge over several other crypto tax softwares as they have developed their tax reports in partnership with audit consultants from KPMG and hence, are legally rigorously compliant. It also has several other useful features including a Portfolio Tracker along with its primary feature of the Tax Calculator. Additionally, it also officially supports the tax systems of over 100 countries, 33 exchanges, and 6 blockchains (Example: BTC, BCH, LTC). Another pro is that a new user can start using Koinly for free and only pay when final reports are required to be generated, similar to conventional income tax softwares like Sprintax. ![]() ![]() Headquartered in London, it has a sleek and intuitive UI and is perfectly suited for both regular traders and for amateur blockchain enthusiasts holding relatively smaller amounts of cryptocurrencies. 1.Koinly.ioĪs one of the most popular cryptocurrency tax tracking software, Koinly is the first software on this list. No matter what kind of cryptocurrency trader you are, right from an enthusiast with a few hundred dollars in Bitcoin, right up to a seasoned cryptocurrency day trader, these 5 cryptocurrency tax tracking tools would help simplify your cryptocurrency taxes and help you stay on the right side of the law.
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