5 Best Crypto Tax Software Tools in 2024

Cryptocurrency is now a mainstream form of investment, and most governments around the globe have wised up to the fact that many people are making substantial profits trading and investing in crypto. Therefore, gains from cryptocurrency investing are typically taxed, although the details of course vary from country to country.

Thankfully, reporting your crypto taxes is easier than ever thanks to a plethora of tools that are designed to make the process as streamlined as possible. In this article, we will be featuring 5 of the best crypto tax software tools that will help you calculate and file the taxes you owe from your crypto investments.

The best crypto tax software tools in 2024

Without further ado, here is our list of the best crypto tax tools in 2024:
 

*The capital gain/loss reports generated by crypto tax software platforms can be adapted and used to file taxes in many different countries.

1. Koinly 

Koinly provides feature-packed cryptocurrency tax software that allows users in more than 20 countries to calculate their crypto taxes. Koinly supports a huge range of cryptocurrency exchanges and wallets, allowing almost every crypto investor to stay on top of the tax implications of their moves in the crypto markets.

The Koinly platform caters to an international audience, as it supports more than 100 countries. Koinly supports a variety of cost basis methods, which makes it suitable for use with almost all tax systems.

At the moment, Koinly offers a basic free tier as well as three paid plans, which are billed on a tax year basis. The free tier can certainly be helpful, but doesn’t give users the options to generate tax reports or export data to mainstream tax filing software such as TurboTax and TaxACT.

For most cryptocurrency investors, the $49 per tax year Newbie tier should suffice. The tier provides access to all the features offered by Koinly, except for priority customer support. The plan’s main limitations is that it is limited to 100 transactions.

If you’re a more active trader, the $99 per tax year Hodler tier provides support for up to 1,000 transactions. The Trader and Pro tiers cost $179 and $279 per tax year and are designed for advanced users that require the ability to analyze a very large quantity of transactions.

2. CoinTracker

CoinTracker is a very popular portfolio tracker and crypto tax calculator that has a very impressive range of integrations across hundreds of cryptocurrency exchanges as wallets, as well as thousands of decentralized finance smart contracts. 

This platform is a great choice for crypto investors living in the USA, Canada, the UK or Australia. If you’re in one of these countries, CoinTracker can provide a country-specific tax report. For users in other countries, CoinTracker can generate capital gain/loss reports. 

A great feature of CoinTracker is that it allows users to easily file their taxes with HR Block and TurboTax. Alternatively, the platform also allows users to file taxes with their tax professional or export IRS forms. 

The CoinTracker platform does support a free tier, which makes it possible to generate a tax summary and track the performance of your crypto portfolio. However, if you want to generate tax reports or access the platform’s integrations with TurboTax and HR Block, you’ll need at least the Base membership tier, which costs $59 per year. The main limitation of this plan is that it only supports up to 100 transactions.

If you need a higher transaction limit and advanced features such as tax loss harvesting, the Base ($249 / year) and Ultra ($599 / year) membership tiers are available for power users. 

3. Blockpit

The Blockpit crypto portfolio tracker and cryptocurrency tax calculator is a solid option for users that are looking for a smooth user experience and comprehensive coverage of cryptocurrencies, exchanges, wallets and decentralized applications.  

If you live in a major European country, there’s a good chance that Blockpit can generate a country-specific tax report for you. This makes it a good solution for crypto taxes in Germany, Italy, the United Kingdom and other countries.

Among European countries, Blockpit provides full support for Germany, France, Spain, Netherlands, Belgium, Switzerland, Austria and the United Kingdom. Blockpit is also capable of generating a country-specific tax report for the United States. 

For users in other countries, Blockpit can generate a generic tax report. You can determine whether this is helpful for you or not by taking a look at the sample tax reports available on Blockpit’s official website. 

Blockpit does offer some functionality for non-paying users, although it’s limited to portfolio tracking. The cheapest tier offered by Blockpite is the Lite tier, which supports up to 50 transactions and costs $49 per tax year.

Meanwhile, the Basic ($109 / year), Pro ($269 / year), and Unlimited ($639 / year) tiers are available to users who require the ability to analyze a larger number of transactions and other advanced features such as tax optimization and performance indicators. 

4. CoinLedger

The CoinLedger crypto tax software has attracted a userbase of over 500,000 by offering a simple yet powerful platform for importing cryptocurrency transactions and generating tax reports. 

The CoinLedger platform provides comprehensive coverage of the various transactions made by crypto investors, ranging from crypto exchange and wallet transactions to interactions with DeFi protocols and NFTs. 

CoinLedger’s free functionality is limited to portfolio tracking. If you require the ability to generate tax reports, you can get started with the Hobbyist tier, which costs $49 per year and supports up to 100 transactions.

For more active traders, the Investor tier ($99 / year and up to 1,000 transactions) and Pro tier ($199 / year and 3,000+ transactions) will be the more suitable choices. 

Notably, CoinLedger supports transactions from 2010 onwards, which is more comprehensive coverage than we’ve seen from most competitors – the industry standard seems to be supporting transactions from 2013 onwards.

5. TokenTax

The TokenTax crypto tax software platform is one of the leaders in the industry, providing a broad range of integrations with cryptocurrency exchanges, wallets and crypto assets.

The platform’s crypto profit/loss reports can be adapted to fit the requirements of different countries, making TokenTax a viable option for crypto investors worldwide. For example, you can use TokenTax to do your crypto taxes in India.

The Basic tier, which is the most accessible of TokenTax’s plans, costs $65 per year and is limited to users of the Coinbase and Coinbase Pro cryptocurrency exchanges. For crypto traders using a variety of exchanges, the company offers the Premium tier ($199, up to 5,000 transactions).

For the absolute most demanding cryptocurrency traders, TokenTax provides the VIP tier, which boasts a comprehensive suite of services including an option to have a full filing done by TokenTax. At $2,999 per tax year, however, it’s not exactly cheap. 

While TokenTax is pricier than most competitors, the company provides exceptionally deep crypto tax services and even has an in-house team of certified public accountants and enrolled agents. If you’re a Coinbase user, the Basic tier offers a great solution for getting your crypto taxes done effectively.

The bottom line

As you can see, cryptocurrency investors and traders can choose from many different crypto tax software platforms. Due to the stiff competition in the sector, crypto tax tools are available at a fairly reasonable price for those who aren’t making too many crypto transactions. However, if you’re trading on a daily basis and rack up a lot of transactions, you’ll likely have to choose a more expensive plan.

If you’re looking for more specialized advice regarding crypto taxes, make sure to check out our article highlighting the best crypto tax accountants.