Top 3 crypto tax software tools for 2022

What time is it? Time to do your crypto taxes. Wait, wait, come back! 

By: George Koynov

C’mon now, you knew this day would come sooner or later. The day you must finally make last year’s crypto gains legit. Sure, the thought of giving back a portion of your hard-earned crypto profits is painful enough, but having to sit down and do your own accounting only adds insult to injury. That’s why we’ve selected and reviewed the Top 3 best crypto tax software products you can use to make your life and your (completely voluntary!) altruism to the government somewhat easier.

Thanks to these fine products, you no longer have to keep track of each and every shitcoin trade you do on Binance at 3:47am. There’s an app for that! More than one, in fact. Not only will these tax tools automatically crunch any numbers you decide to throw at them, they will also provide you with ready-to-file paperwork that you might want to file away for future reference.

1. Koinly

 

Koinly

 

They say there’s no such thing as perfect crypto tax software, but they’ve never heard of Koinly. Brimming with useful features, this cryptocurrency tax tool integrates effortlessly with many exchanges and wallets, providing you with accurate reports about every single transaction and trade you’ve made. Koinly has one of the most advanced error reconciliation algorithms on the market. This means you’ll never have to doubt the suspiciously high percentage of your hard-earned gains you’ll have to surrender to The Man. With Koinly, that number is always painfully correct.

Best for

  • Аutomated tax reports.

Benefits

  • Saves time with automated data importing
  • Saves Googling with instant connection to tax specialists from five countries
  • Saves money with a free plan that supports up to 10k transactions

Drawbacks

  • Only the paid version lets you download your crypto tax reports

Verdict

  • This thing will do everything for you, short of making you a sandwich.

2. CryptoTrader.Tax

 

CryptoTrader.tax

It’s not enough that you have to painstakingly calculate the correct percentage of your crypto profits that you have to give back to The Man, but you also have to turn all that transaction data into reports that you have to file with the IRS. If after reading that sentence you suddenly felt like shutting down your laptop and going for a long walk, we feel your pain. Luckily, CryptoTrader.Tax can save you from existential despair by doing all that stressful math work for you. This handy crypto tax tool will also generate the classic IRS form №8949 along with short and long-term sales reports, crypto income reports, international gain/loss reports, and much more. To top it all off, CryptoTrader.Tax integrates with more than 200 crypto exchanges and with most popular blockchain wallets.

Best for

  • Calculating and filing your crypto taxes while you try not to slip into a week-long depression.

Benefits

  • Saves a whole bunch of effort when filing tax forms to the IRS
  • Saves time by being integrated with almost ever crypto exchange out there
  • Saves money by being very affordable

Drawbacks

  • Only the paid version lets you preview or download your reports. 

Verdict

  • Great as a free product and even better if you pay for it to unlock all features.

3. ZenLedger

 

Zenledger

Another excellent crypto tax software solution that can be a trusty sidekick in your courageous battle with your tax reports. It files forms! It calculates gains! It tracks losses! It lets you see your transactions from multiple wallets at once in a single easy-to-understand spreadsheet! Yes, we’re talking about the ZenLedger. It can even do your non-crypto taxes. In fact, ZenLedger is so powerful and feature-rich, many professional accountants use it when providing crypto tax services for their clients.

Best for

  • Tax professionals and perfectionists

Benefits

  • Saves money with excellent discounts.
  • Saves times thanks to its Grand Unified Accounting feature
  • Can do your regular taxes as well

Drawbacks

  • Not too user-friendly

Verdict

  • When you absolutely, positively want to tackle every transaction you made the previous year, accept no substitutes.

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