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10 Best Crypto Tax Software Options Compared – 2021

Relite Education
Jul 30, 2021
7 min read

Trading in cryptocurrencies is not as easy as it was a few years ago. Countries are now imposing taxes on trading fees and gains from cryptocurrency trading. To the average trader, evaluating and determining tax requirements is cumbersome and potentially inaccurate. The advent of some of the best crypto tax software options eases the burden on the taxpayer, taking over the bulk of taxation requirements and serving you with an accurate tax bill.

Because of the several crypto tax software options available, we’ve compiled a list of 10 of the best crypto tax software worth considering. Before we dive, let’s get a few basics right.

What is crypto tax software?

These are applications allowing users to track, manage, and calculate taxes arising from cryptocurrency trading. Crypto tax software helps traders meet their tax obligations to avoid any problems with their country and state-specific tax authorities.

How does crypto tax software work?

Crypto tax software works as third-party data aggregators. Users purchase a subscription package from their service provider and link them to their crypto exchanges, wallet addresses, and any other relevant crypto paraphernalia. The software then aggregates data from these sources to produce a crypto tax report compatible with the tax authority guidelines depending on the jurisdiction.

Crypto tax software tracks your cryptocurrency trading activities and creates an accurate report and tax obligation from your trading activities.

Other additional services usually include helping cryptocurrency traders minimize their taxes and maximize their profits legally.

What are the best Crypto Tax Software options compared to 2021?

Now, let’s dive in on some of the best crypto tax software platforms.


1. TokenTax

If you want crypto tax software with extensive cryptocurrency coverage, TokenTax is the platform for you. The platform covers thousands of cryptocurrencies, including lesser-known altcoins. Their dashboard is intuitive and straightforward, giving users a smooth experience.

Additionally, TokenTax provides a tax minimization algorithm for users who want to maximize their profits. The algorithm recommends selling or buying cryptocurrencies to minimize your tax obligations and optimize your portfolio for maximum profits.

Token tax is available globally.

Unique features
  • Global availability
  • Algorithm for minimizing crypto trader tax

2. Koinly


Koinly is a crypto tax calculator and portfolio tracker supporting traders, miners, and crypto investors in over 100 countries. The platform has a modern and user-friendly UI suitable for all users. It integrates over 300 cryptocurrency exchanges and wallets via CSV files or API. The platform provides real-time trade and transaction tracking with a profit/loss graph and a complete portfolio overview for your convenience. Traders can also export their crypto tax reports to general tax tools such as TurboTax.

Further, the platform generates legal tax documents for traders such as K4 for Sweden traders and form 8949 for US traders. In countries not supported by Koinly, the platform still maintains its crypto tax calculator function.

Unique feature

  • Generates legal tax documents.

3. CryptoTrader.tax

The platform is made for crypto trader taxes. It helps traders and investors in preparing and filing their crypto tax returns. It gives step-by-step assistance to traders when importing crypto transactions with potential tax liabilities. In crypto tax preparations for accountants and tax professionals, the platform provides an adequate set of tools.

Unique feature

  • It has a crypto taxes 101 guide with all the necessary information for crypto trader tax obligations.


4. CoinTracking

CoinTracking is an efficient crypto tax calculator and reporting tool. It also provides portfolio management tools, presenting a comprehensive set of data on its intuitive dashboard. With its crypto tracking services, it tracks your crypto balance and records your trading milestones for better decision-making.

 Unique features

  • Provides support for many exchanges, including legacy support for closed exchanges such as Mt. Gox.
  • Provides a real-time report on profits/losses and asset value.
  • Expansive cryptocurrency support of over 6000 coins.

5. Accointing


The platform is an all-in-one crypto management solution, including crypto trader tax services. The prerequisite requirement to using the tax solutions on Accointing is using the platform to manage your cryptocurrency holdings. Accointing’s advantage lies in its all-in-one service; therefore, you can manage your crypto portfolio from one platform.


 6. CryptoTaxCalculator


The platform is designed to generate powerful and accurate accountant-friendly crypto tax reports. Calculations on the platform are easy to understand for every crypto trader Users import their transaction data to the platform, which then exports the crypto trader tax report.

CryptoTaxCalculator supports hundreds of exchanges and is compliant with Australian tax regulations.


7. BearTax


It works with major exchanges to track your crypto performance while also generating the relevant tax documents for your operations. Integration to exchanges is via CSV with an API interface for importing data. Forms such as IRS 8949 and TurboTax Direct are available from the platform.


8. Blox

A multipurpose cryptocurrency kit with the ability to generate taxation reports in an automated and precise way. It includes the following tools:

  • Auto tracking and data syncing from multiple wallets and exchanges
  • Financial tools for accountants and tax professionals
  • ·Bookkeeping for historical transactions and creating financial reports

9. Zenledger

For professional crypto investors or traders requiring a reliable crypto tax calculator, Zenledger is an option to consider. It supports multiple exchanges, crypto assets, and fiat currencies.

Unique features

  • Great CPA tools for accountants in the crypto tax ecosystem.
  • Considers every minute detail to ensure payment of only the correct taxes.
  • Automatically generates different tax reports from the data provided· 

10. CoinTracker

A simple and intuitive crypto tax software featuring great investment analysis tools for better crypto trading decision-making. CoinTracker has an active partnership with Coinbase and TurboTax to streamline its tax reporting process. It also supports margin trading on major crypto exchanges.

Additionally, the platform allows you to connect your wallet to your exchanges, giving you access to a crypto tax calculator.


What are the best free Crypto Tax software options?

All the platforms on our list are free to download and install. Of the free crypto tax software options, here is a summary of what we believe are the best.

  • Koinly and TokenTax offer extensive coverage of cryptocurrencies, including newly released tokens. Both platforms are available as free crypto tax software in over 100 countries in terms of geographical coverage.
  • CryptoTrader.tax and CryptoTaxCalculator are the best for novice traders. Their layouts are simple and easy to understand. They also feature straightforward calculations suitable for every level of trader.
  • Zenledger is a great option for professional traders who want a crypto trader tax calculator.

Do I need Crypto Tax software?

Yes, you do. Countries are introducing tax obligations to cryptocurrency trading activities. The IRS, the tax authority in the US, has an entire section dedicated to virtual currencies and the taxes they attract. Failure to disclose crypto earnings attracts penalties and fines depending on the tax obligation.

Will the best crypto tax software help staying out of trouble with the IRS?

Yes, it will. From our recommendations, there are platforms providing taxation documents to help traders meet their IRS obligations. The best crypto tax software will help you navigate the confusing world of tax obligations.

Crypto Tax Software Conclusion

After selecting the best crypto platforms for profit, such as our upcoming Relite platform, and using the best rewarding strategies, it is essential to have crypto tax software. These platforms save you from any crypto tax trouble, with the IRS giving you peace of mind to continue trading comfortably.

Frequently Asked Questions (FAQs)

Do you pay taxes on Crypto trades? Depending on the regulations in your country, you may pay taxes on crypto trades. There are obligations for profits and trades from cryptocurrencies for countries such as the US, Australia, and the EU.

Is crypto trader tax-free? Crypto trader tax is a free crypto tax software; however, some services require a subscription package.

How much does CryptoTrader.Tax cost? CryptoTrader.tax charges $49 per tax season.

Where is CryptoTrader.Tax located? The company has its headquarters in Kansas City, Missouri.

What is the best crypto tax software? Our pick for the best overall crypto tax software is TokenTax. Depending on your requirements, you can go through our list to get the best option for you.

Is there free crypto tax software? There are several free crypto tax software. Some of them are in our top 10 list. They include Koinly, Accointing, and many others. The software from these platforms is free, but users will have to pay for specialized services or exploit the software to its full potential.

What is Crypto tax software? These are applications allowing users to track, manage, and calculate taxes arising from cryptocurrency trading.

Does TurboTax do Cryptocurrency? TurboTax integrates with data from your crypto trader tax service provider. For example, Koinly provides data from which TurboTax can determine your payment obligations.


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