Cryptocurrency trading brings with it unique tax liabilities. Luckily, there are various software tools to assist cryptocurrency traders with calculating and filing their taxes. These programs connect to exchanges and wallets to gather the necessary data needed for calculations while automatically filling in forms on tax documents.
They provide services that support DeFi, margin trades and futures trading; some even feature tax loss harvesting features; they can import transaction reports from wallets or accounts you own directly.
Cryptocurrency trading, staking and mining activities may generate taxable events that must be reported to the IRS. Transactions could include capital gains or income. CoinTracker can help make sense of this information and prepare all required forms to submit to the IRS.
This comprehensive platform offers tax loss harvesting and tax impact features, along with support for over 10,000 cryptocurrencies and 300 exchanges, enabling users to optimize cost basis accounting procedures and save thousands each year.
CoinTracker provides four pricing tiers depending on the features you need: free, starter, enthusiast and premium. In addition to these plans, its Crypto Portfolio Assistant and NFT Center come with free trials; while enterprises can use white-labeled solutions from CoinTracker. Additionally, its crypto tax filing feature utilizes read-only access to exchange accounts that guarantee data safety – making CoinTracker one of the safest options for filing crypto taxes.
Ledgible’s platform provides an all-inclusive solution designed to meet the crypto taxation needs of institutions, professionals and accounting solutions firms. Its distinctive features make it stand out in the crypto world; for instance, direct integration with professional tax software as well as automation of crypto activity in structured traditional format are among them. Furthermore, legible transaction records make all crypto related activity accessible.
Ledgible offers users a single platform to track and report on their digital asset holdings from a single location. It supports major exchanges and crypto wallets as well as on-chain functionality to automatically classify holdings as either taxable income or capital gains, and account for any fees.
Additionally, this platform features an advanced client management portal and enterprise-grade SOC 1& 2 Type 2 security. Furthermore, its transparent pricing structure – comprised of transaction tiers and usage-based incremental fees – enables users to tailor their pricing model specifically to their needs while keeping costs under control and increasing productivity.
ZenLedger is a crypto tax tool designed for individuals and tax professionals alike that integrates with popular exchanges and wallets to automatically calculate and generate crypto-related IRS forms. Perfect for both, ZenLedger provides access to cryptocurrency data in one centralized source – offering features like tax loss harvesting so that any lost value cryptocurrency or NFT sales can offset gains on sales profits.
At its core, Taxbot provides many features aimed at helping users file their taxes more easily or use tools like tax-loss harvesting – it also integrates with popular tax software programs like TurboTax as well as cryptocurrency platforms like Coinbase, Bittrex and Poloniex for easy data import. At its higher tiers it may become somewhat pricey but is worth every penny for those in need of assistance filing taxes or using tools such as tax loss harvesting. Although at higher tiers its pricing may become prohibitive it makes up its use if necessary!