Best Crypto Tax Calculator Software

12 May, 2022 • 6 min read

A cryptocurrency refers to a digital asset of decentralized nature constituting a means of exchange based on blockchain technology. Although cryptocurrencies have not yet gained legal status in major economies, profits earned on the sale of these digital assets are taxable. Taxation laws regarding crypto transactions are still evolving however the fact remains that when exchanged at a profit, the profit received on such crypto assets is taxable at the rate of capital gains. It is just like how your profits will be taxed on a share of any stock. The following paragraphs summarize some of the Best Crypto Tax Software for crypto users. A Crypto tax comparison is also provided below.



Koinly

As one of the leading Crypto Tax Software companies, Koinly can be easily linked with all the wallets, blockchain addresses and exchanges showcasing all the details about the invested money of an individual or an organization.

Koinly also allows you to export your crypto transaction data to even other tax softwares too. This Crypto Tax Software navigates through your portfolio across your various exchange accounts and wallets to reflect changes in profit and loss and incurred taxes in real time.



Pricing - Koinly has four pricing models which are Newbie, Hodler, Trader and Pro. These are priced as follows:

Newbie - 49 USD per tax year

Hodler - 99 USD per tax year

Trader - 179 USD per tax year

Pro - 279 USD per tax year



Advantages and disadvantages of using this Crypto Tax Software

Some of the advantages that Koinly offers to the Crypto users are:

  1. Koinly is more affordable than the other Best Crypto Taxes Software.

  2. Its integration and automatic synchronization with several blockchain addresses, exchanges, accounts and wallets render Koinly its functionality.

  3. Koinly also supports international tax filing of individuals and organizations.
  4. This Crypto Tax Software simplifies the entire process of tax calculation by calculating the tax liabilities on crypto transactions.


Few cons of using Koinly are that in the free Koinly versions there is no tax-loss harvesting tool of independent nature. Also, in these pricing models, detailed tax reports are not included.



Crypto Fit

Crypto Fit manages your portfolio across platforms and serves as one of the Best Crypto Tax software 2022. Tax reports are also available for free when using Crypto Fit as a Crypto Tax calculator.


Moreover, it has a specific accountant section for professionals and has a strong email and community support. One can also benefit from the business strategies Crypto Fit provides along with their insights via Youtube videos. As a Crypto Tax Reporting Software, It also provides elaborate information about cryptocurrency performance, news and prices on its portal. However, there are only fewer exchanges supported by the Crypto Tax Software. Nevertheless, Crypto Fit is one of the most useful and Best Crypto Taxes Software.


This Crypto Tax software Comparison indicates the importance of tax filing on the profits and losses on crypto transactions. As mentioned above, various softwares function as Open Source Crypto Tax software as well as Free Crypto Tax Software Reddit. When losses are incurred, tax reports can even prove to be beneficial for the individual. Thus, one can use any of these softwares according to their requirements and always file their Crypto taxes. These softwares exist for you as the Best Crypto Taxes Software 2022.


Pros

- It is a Portfolio tracker & Tax platform

- It doesn't charge anything for creating your tax reports. Absolutely free but in trun would want your love for spreading the good word.

- It has Accountant section specifically for tax professionals to collaborate with their clients on Crypto transactions.

- Apart from Satistics they also provide Youtube insights into your invested crypto assets, so that you can take business strategies.

- NFT buy/sell can be in Synced from different platforms & they are included in Tax reports.

- Provide Email support & Community Support

Cons

- More exchanges need to be added. [They are increasing]



CoinTracker

With more than five hundred thousand users, Cointracker tracks one’s portfolio and has independent tax-loss harvesting tools. It is mostly used by mobile users as CoinTracker is available as Android and iOS apps as well. It supports around 7000 cryptocurrencies and possesses 12 methods for tax report generation. It is also available as a Free Crypto Tax Software.


The pricing models are as follows:

  • Free - Free version with Free Crypto Tax calculator
  • Hobbyist - 59 USD
  • Premium - 199 USD
  • Unlimited - Individual pricing


Bear.Tax

Bear.Tax can automatically import all details of crypto transactions and is capable of taxes calculation, tax report generation and so on.


It also provides you with systematic sales reports. T is affordable and the automation features are commendable. However, it supports only about 50 exchanges and is not available in some countries for tax reporting purposes. Out of all Crypto tax softwares, Bear.Tax is the Cheapest Crypto Tax Software.


Like others, Bear.Tax too has 4 pricing models which are:

  • Basic - 10 USD per tax year
  • Intermediate - 45 USD per tax year
  • Expert - 85 USD per tax year
  • Professional - 200 USD per tax year