Cryptocurrencies have presented people from across the world with some of the most impressive opportunities to fund businesses, make purchases, and even send and receive money digitally.
However, in most cases, these currencies are held in different exchanges and wallets. They are also available in different forms which makes it even more complicated when trying to calculate taxes.
Luckily, there are a few crypto tax calculators or tools that help make the work easier. We have compiled a list of 15 of the best crypto tax calculators for you to try out.
The Best Crypto Tax Calculators
1. CoinLedger
Starting off this list of the best crypto tax calculators is CoinLedger. This software was initially intended for use by people in the United States.
However, it later evolved to become accessible to users in Australia. Today, the software is available for use by people throughout the globe.
As long as you live in a country that supports HIFO, FIFO, and LIFO reporting, you can take advantage of this software. It is one of the easiest software to use when it comes to calculating your crypto taxes.
That is because it includes tutorials that help you understand how to go about the process of compiling your tax reports. It also makes it easy for you to get accurate figures thanks to its automated operations.
The platform has a simple interface with well-labeled sections for ease of navigation. Once you sign up on the platform, you can easily import your crypto transactions from wallets and exchanges.
Calculations cover various aspects of transactions including trading, staking, and NFTs. Next, the software will calculate all your gains and losses and then generate a report.
The generated report is then available for you to download and use when filing your taxes. Note that calculations can be done in any currency of your choosing.
Another impressive thing about CoinLedger is that it is partnered with TurboTax which is one of the most popular tax preparation platforms. Instead of downloading reports, you can simply connect the two services and make your preparation easier and faster.
Other impressive features of this platform include
- DeFi support
- Live Chat support
- Error reconciliation
- Current profit and loss
- Unlimited revisions
- Support for over 10,000 cryptocurrencies
- Free portfolio tracking
- Free data import
2. Accointing
Another excellent tool you can go for when thinking of calculating your taxes is Accointing. Like CoinLedger, this particular tool is compatible with FIFO, HIFO, and LIFO reporting styles.
To start using the tool, all you have to do is visit the main site and sign up for an account. The process is quite simple and free of charge.
The tool’s crypto calculator applies the generally accepted principles of tax reporting. And that makes the process of compiling a tax report even easier.
The calculator can automatically import all transactions from up to 300 wallets and exchanges. It does all this through APIs or Xpubs.
However, if you wish to do the importing manually, you can always utilize the Excel sheet that is provided within the tool.
It features a review function that quickly analyzes your transaction history and classifies transactions accordingly. This encompasses things like your DeFi staking, margin trading or mining, and trading.
Once you have classified your transactions, you can use the holding period function to determine the tokens that you have held for more than 12 months. With that information, you can easily optimize your taxable gains.
Most people achieve that by trading the tokens that seem to generate greater losses. Once you are through with the process, the calculator will generate a report within five clicks.
Accointing also has a crypto tracker, which acts as a central place for you to keep an eye on your crypto portfolio.
3. TokenTax
TokenTax is another crypto tax calculation software you might want to have a look at. It has one of the most organized interfaces, which is a relief for individuals that just want a simple tool to help in tax calculations.
The software is easily synced with your wallets and accounts. The process ensures that data can be imported from different sources automatically once you give your consent with a few clicks of the button.
The software supports DeFi and NFTs. Additionally, it reviews your data and notifies you regarding missing data on top of finding errors and fixing them.
Once a significant amount of data has been retrieved, the tool offers a preview of your tax bill in real-time
This is available thanks to the tax loss harvesting dashboard, mining and staking income reports, custom enterprise reports, and Ethereum gas fee reports.
This tool is compatible with FIFO, HIFO, and LIFO tax reporting methods. It also generates every tax reporting form you may need even if you use a different service provider for filing.
Like most of the crypto tax calculation tools on this list, you are likely to unlock more features when you subscribe to the more expensive subscription tiers.
4. Koinly
Next up on this list of the best crypto tax calculators is Koinly. This tool was developed in 2018 with the aim of simplifying complex tax calculations.
One of the things that make this tool stand out is that it can help you check your total holdings and trading activities through different crypto sources or platforms.
The tool also automates the process of generating a summary of your income over a given period. Finally, it helps you find ways to reduce taxes over the next 12 months.
It features a double-entry ledger system that helps users identify errors and fix them. Additionally, it is compatible with tax reporting platforms such as TurboTax which makes the whole process of filing a breeze.
Keep in mind that Koinly works with over 350 exchanges, 50 wallets, 50 blockchains, and 11 services. The tool is open to use for individuals in over 20 countries across the world.
Many people who use this tool do so because of its intuitive interface and the comprehensive tax report it often generates. You’ll be pleased to know that it is also available as a mobile app so you can do your calculations on the go.
5. CoinTracker
CoinTracker is another exceptional tax calculation software you may want to use for the purposes of filing your taxes. It is one of the few that offer a free subscription for beginners.
That means beginners can carry out calculations for up to 25 transactions without having to worry about paying a dime. A standout feature of this tool is that it offers automated portfolio tracking.
That allows you to monitor your market value, investment standing, and portfolio allocation. The tool can easily sync with over 300 exchanges and supports over 10,000 cryptocurrencies.
It can import data from your accounts and use it to create a report for you to easily view. The report compiled can be filtered according to specific parameters within the tool.
This tool does not only calculate, but it also optimizes cost basis accounting methods so that you can easily tax-loss harvest your portfolio and save money every year.
Once the tool has generated a tax report, you’ll have the freedom to download the report with a few clicks. The report you generate can work with any reporting agent you work with.
This is another tool that comes with a mobile app so that you can keep track of your portfolio on the go.
Also Read: Best CoinGecko Alternatives
6. TaxBit
Another one of the crypto tax calculators you should consider having a look at is TaxBit. This particular tool is designed to offer solutions to individuals, enterprises, and government agencies.
With this tool, you can enjoy integration with over 500 crypto exchanges, DeFi platforms, and wallets. That is significantly higher than some of the options available on this list.
The tool features a simple interface that even the novice can quickly get acquainted with and start using. While it only offers support for U.S. taxpayers, the tool is open for use by people from across the globe.
TaxBit’s tax optimizer makes it possible for users to understand prevailing capital gains and losses before transactions. This helps users determine how best to proceed so as to minimize their costs.
It is also worth pointing out that TaxBit has a free plan for individual users. However, they may not be able to access all the fancy features that come with the tool.
Things such as tax optimization, IRS audit support, and tax-loss harvesting are not available for individual accounts. Instead, they are only available to users that subscribe to the paid version.
Also Read: CoinGecko vs CoinMarketCap
7. BitcoinTaxes
The next tool you can use to calculate your taxes is BitcoinTaxes. Before you start using this tool, you’ll need to head over to the main site and sign up for an account.
There are unique accounts for individuals and tax professionals or accountants. This particular calculator is best suited for calculating taxes and reporting under the FIFO method.
It can also work for specific identification accounting methods. One of the most impressive things about this tool is that it can import data from different exchange platforms including Coinbase, Kraken, and Binance.
If you are unsure of the whole process of automated import, you can as well enter your data manually through the template provided. The tool has a free offering meaning individuals can work on it without worrying about payment.
However, it is also true that the free offering has a cap on the number of transactions you can calculate. If you want to carry out an unlimited number of calculations, you’ll need to go for one of the paid subscriptions.
The tool’s managers have in-house crypto tax professionals that can help you prepare your report in case that is what you need. The professionals are also able to handle things like the conversion of CSV files, results analysis, and custom report creation.
Also Read: NiceHash vs BetterHash
8. ZenLedger
ZenLedger is the next tax calculator you should consider using. It comes in two versions which are DIY and Tax-Professional Assisted.
The DIY version has a free offering where you can use the calculator without having to pay anything. However, you are only eligible to calculate up to 25 transactions.
There is also a paid version of the DIY offering which lets you carry out as many calculations as you want. The second version which is Tax-Professional Assisted ensures that you receive professional help from in-house staff.
This second version is relatively more expensive when compared to the first. The tool itself has an intuitive interface letting users go about their work fast.
The calculator allows users to connect to over 500 crypto exchanges and wallets. Once synced, the tool can automatically import data from the sources you specify and use it to create a comprehensive report.
With the data imported into the system, the calculator can determine different things including cost basis, fair market value, and gains/losses recorded in your transaction history.
It has a resolution center where you can counter-check your data and determine if there is any error or missing information. In case you notice anything wrong, you can have it corrected speedily.
Basically, the dashboard gives you an overview of many activities including mining, staking, trading, lending, and gifts. Once you have successfully reviewed your data, you can go ahead and download the report with a click of a button.
ZenLedger is compatible with the LIFO, HIFO, and FIFO tax reporting methods.
9. Crypto.com Tax
Another impressive tool you can use to organize your taxes is Crypto.com Tax. One of the things that makes it popular is that it is completely free of charge.
Even if you wish to calculate more than 25 transactions within a year, you won’t have to worry about making any payments. Secondly, the platform features one of the simplest and most intuitive interfaces yet.
That means you simply have to sign up for free, the process takes a few seconds, and then you can hop in and start working on your calculations.
You can use API keys to sync data from different sources. You can also connect the tool to your wallets with a few clicks of the button.
There is also the option of entering data into the system manually if that is what you want. Once your data is compiled and everything calculated, the system will present you with a preview of the final results.
You can then go through the preview just to ascertain that there are no errors. Afterward, you’ll be free to download your crypto tax report and use it to file your returns.
The calculator can be used by individuals that comply with HIFO, FIFO, LIFO, ACB, and Share Pooling tax reporting methods.
10. Cryptio
Cryptio is another tool that can help make your work easy when calculating crypto taxes. It comes in three versions including Basic, Pro, and Enterprise.
The Basic offering can be used by up to three people, the Pro is open for use by up to eight people, and the Enterprise version can be used by an unlimited number of people.
Of course, there is a 14-day free trial for all subscriptions so you can always try that and find out which is the best for your specific needs.
Regardless of the version you pick, the tool can help you calculate cost basis and track realized and unrealized gains or losses. Like other tools on this list, Cryptio can easily connect to various exchanges and wallets and then import data with a few clicks.
In case you run into any difficulties while using this tool, you can always contact customer support and have them assist.
11. Coinpanda
Next up on this list of crypto calculators is Coinpanda. It is another one of those platforms that have a free version so that you can calculate your taxes without worrying about extra costs.
Of course, the free version does not have all the fancy features that the paid version comes with. But if you just want to do basic calculations it will do just fine.
With this tool, you can connect to hundreds of exchanges and wallets and then import data automatically. You can also enter data manually if that seems more helpful to your specific situation.
Once your data is in the system, you can generate reports for all your income including mining, airdrops, staking, and interest. The tool can also calculate profits or losses related to futures and margin trades.
The calculator is compatible with DeFi, NFTs, and metaverse. What’s more, you can generate and export a capital gain report in the form of a PDF file.
Finally, Coinpanda can generate international tax forms that are relevant to your reporting method. Some examples include IRS Form 8949 and Schedule D.
The tool can be used by taxpayers from over 65 countries including the United States, Canada, India, and Germany.
12. Blockpit
Blockpit is another option you can go for if you want to get your taxes in order. The tool is designed to be compliant with laws in several countries including the U.S., Germany, France, Austria, and Spain.
With this tool, you get unlimited imports from over 350 exchanges and wallets. The tool supports exchanges such as Coinbase, Kraken, and Binance.
You can also import data from the crypto-verse through CSV. Blockpit offers portfolio tracking and complete trade history.
It is another one that has a clean interface so you can get acquainted with using it within a short time.
Other features and functions you get to enjoy include automated error checks, AI-supported classification, tax optimization, and a one-click download crypto tax report.
13. CryptoTax Calculator
The next option you may want to consider is CryptoTax Calculator. Unlike certain tools that have a free offering with a limited number of calculations, this tool only comes with a free 30-day trial.
Once you sign up, you’ll notice that it has a fairly simple interface that lets you navigate easily. Like most tools on this list of the best crypto calculators, it allows you to import data from hundreds of exchanges and wallets.
You can also review transactions and determine if there are any errors. You can then categorize different transactions to make your report simpler.
Finally, you can download your crypto tax report and use it to file your tax obligations.
14. Cointelli
Cointelli makes it to this list because of the multiple features it has. For starters, it supports over 100 wallets, exchanges, and blockchains.
Like most tools on this list, it allows you to import data from different sources. You can also organize your transactions accordingly to make calculations much easier.
With transactions listed in different categories, you can go ahead and review your report. That allows you to determine if there are any errors or omissions that may end up costing you when you file your taxes.
Once you have ascertained that everything is in order, go ahead and download your crypto tax report. This tool comes with a free trial version that is limited to a few days.
Also Read: Coin vs Token
15. CoinTracking
The final option you can go for on this list is CoinTracking. It was launched in 2013 and has over one million active users today.
With this tool, you can enjoy real-time transaction tracking so that you do not miss a thing when carrying out calculations.
While it has a fairly simple interface, you also get to benefit from its guides and tutorials regarding calculations and other tax-related issues.
The tool can connect to over 110 exchanges and import data automatically once you give it the go-ahead.
Other things you get to enjoy when using this tool include profit and loss audit reports, realized and unrealized gains, and a review of income.
Additionally, you get to know about your mining and capital gains. The tool displays a preview of your crypto tax report so that you can check everything before you download.
Find out more tools like Cointracking in this post.
Wrap Up
All the tools mentioned above are more than handy when it comes to crypto tax calculations. The best part is that they also do more than just calculations.
They help you get a clear view of your activities so that you can adjust accordingly to save more. The tools also offer free versions and trials which is always a good thing when assessing the best for your specific needs.
Overall, CoinLedger comes across as the most outstanding on this list. It is packed with helpful features and supports tax compliance in many countries.
