No matter if you’re trading, holding or investing, keeping accurate records of crypto transactions and gains is crucial to accurately calculating tax liabilities.
Koinly is beginner-friendly and works with hundreds of exchanges and DeFi platforms; additionally, it provides free plans with annual subscription costs of $49 or less.
Koinly
Koinly was established in 2018 to provide tax solutions for crypto investors and accountants in the financial technology sector. Their software uses artificial intelligence (AI) to trace transactions across blockchain, creating audit-proof tax reports with ease. Furthermore, its income transactions detection features reduce manual workload for accountants while automatically tagging income transactions automatically reducing manual work for them as well. Koinly competes directly against ZenLedger but with several unique features making them better choices for average investors.
It is available in 20 countries and allows users to generate personalized tax reports. Furthermore, it has excellent NFT support which enables users to monitor all NFT transactions easily in one central place.
At Bitcoin Core, its service integrations include hundreds of exchanges, wallets, portfolio apps and DeFi services – from exchanges and wallets to portfolio apps and portfolio apps – plus it supports over 6,000 blockchains and provides API support for thousands of coins. Their free plan allows users to track up to 10,000 transactions with real-time prices and profit & loss calculations included as part of real time pricing & profits analysis; in addition it also supports various tax forms including Form 8949 from HMRC for UK capital gains summaries
CoinTracking
CoinTracking is an innovative cryptocurrency tax software solution, capable of collecting transaction data from various exchanges, DeFi wallets and blockchains. Users can set accounting methods such as FIFO/LIFO to customize reports. CoinTracking even offers full-service options allowing access to licensed CPAs who specialize in crypto taxation – perfect for margin trading and lending scenarios, non-fungible tokens (NFTs).
Cointracking’s interface is user-friendly, making it simple and straightforward for everyone. Furthermore, Cointracking supports multiple languages and you can export data in many formats – plus there is also access to support resources such as guides and tutorials as well as an efficient helpdesk service!
One outstanding feature is Koinly and CoinTracking’s CSV/Excel importer, which makes uploading multiple transactions a much simpler task than with many other crypto tax tools. Unfortunately, both require you to pay per tax year plan fees; so beware if Koinly or CoinTracking impose this restriction!
CoinLedger
CoinLedger is an online cryptocurrency tax software program that automatically produces a comprehensive set of cryptocurrency tax reports. It integrates directly with leading exchanges, wallets, blockchains and DeFi protocols to import transaction history data allowing users to easily generate comprehensive crypto tax forms and file them with local governments easily. Furthermore, CoinLedger supports FIFO/LIFO/HIFO accounting methods along with income reports generated for staking mining lending airdrops etc.
It features an intuitive user-interface for easily importing transactions and categorizing them to avoid costly tax mistakes at tax time. Furthermore, its excellent support – email and live chat available seven days a week – and free plans provide budget-conscious users with additional features such as DeFi/NFT support as well as FIFO, LIFO and FIFO methods, error reconciliation as well as CSV wallet import capabilities. Plus it covers 14 countries/regions providing various reporting formats.
