8 Best Crypto Tax Software for TurboTax | 2022 Top Picks

Are you looking for the best crypto tax software for TurboTax? In this article, we'll offer eight terrific options for you to pick from. Plus, we'll dig into the insights of each software to have a proper grasp. So get your taxes done as quickly and easily as possible.

Top 8 crypto tax software with TurboTax

CoinLedger  

ZenLedger  

CoinTracker  

Bear.Tax

Koinly  

BitcoinTaxes  

Ledgible  

TokenTax

 Yes  

  Yes  

  Yes  

  Yes  

  Yes  

  Yes  

  No  

  No  

TurboTax & TaxAct

TurboTax

TurboTax, TaxAct

TurboTax

TurboTax, TaxAct, H&R

TurboTax, TaxAct, H&R 

TurboTax, Tax Act, CCH , & more

TurboTax

$49/$99/$199/$299

$0/$49/$149/$399/$999

$0/$59/$199

$49/$149/$499

$0/$49/$99/$179/$279

$0 - $499

$49+$50/$100

$65/$199/$799/$3,499

Intuit's TurboTax is a software suite for preparing American income tax returns. TurboTax® is the most popular online tax preparation software. It helps people prepare their taxes and offers a variety of features to make the tax-filing process simpler.

CoinLedger provides the best crypto tax software for TurboTax that quickly generate tax reports. It is the ideal alternative if you want to save money on your bitcoin trading taxes. It is not only strongly connected with typical tax reporting software tools, but it also provides a variety of solutions to help balance any tax losses you encounter.

It integrates with the popular TurboTax and TaxDirect, as well as over 100 cryptocurrency exchanges and wallets. You can also readily see connections to major exchanges like Binance, Coinbase, and Gemini. It supports Ethereum blockchain transactions as well as NFT transactions. Its paid levels, on the other hand, provide a greater variety of trades. The price is very reasonable, and you can try calculator for free.

This cryptocurrency tax program calculates your capital gains and crypto losses related to the fair market value and cost basis data. While these tasks are tough to complete manually, CoinLedger makes them simple. You can also reduce your overall taxes by using the platform's tax-loss harvesting option. CoinLedger platform also promises simplicity in terms of app design, ensuring that you do not overpay your taxes.

Read a more in-depth review for CoinLedger.

If you want to see or download your reports, you must first sign up for one of CoinLedger's pricing tiers, the most basic of which is Hobbyist, which costs $49 each tax year. Its Limitless package provides unlimited commerce imports for $299.00 per year.

Priority support services are available with the Unlimited and High Volume plans. Meanwhile, other plans only offer live chat customer service. Its resources are also beneficial to newcomers who want to learn more about taxes.

ZenLedger is another terrific tool for managing your or your client's crypto taxes. The software can assist you in covering all forms of reports you may incur. It includes all of the tax forms you may need to file or keep on hand. It can help you calculate capital gains and losses for reporting purposes. It also provides Grand Unified Accounting which is a ZenLedger-exclusive function.

ZenLedger distinguishes itself from its competitors by providing great customer service. Tax experts, such as tax attorneys, assist in ensuring the accuracy of your filing. It is also the best crypto tax software for TurboTax which lets you put all your crypto-related tax documents in your annual tax report. It also features a tax loss harvesting tool along with TurboTax Integration.

It enables you to view every transaction you've made across several wallets and exchanges in a single, simple spreadsheet. It has plans in place to handle both sorts of taxes for you. ZenLedger is one of the companies that can assist you with non-crypto taxes as well. This service also includes a professional tax suite. It is a great option for experts that want to offer crypto tax services to their clients.

If you're not sure if ZenLedger is the right answer for you, you can use its free plan, which covers up to 25 transactions. The starter is the next category, and it costs $49 every tax year for up to 100 transactions. Premium, Executive, and Platinum plans are also available for $149, $399, and $999 every tax year, respectively.

It is also now offering a 20% discount to new customers, as well as an additional 20% discount if you buy more than one year's worth of memberships. When these reductions are combined, it becomes one of the most economical crypto accounting software.

CoinTracker is one of the most popular cryptos and bitcoin tax software. It has partnered with Coinbase and TurboTax to simplify crypto tax calculation and filing. Cointracker crypto tax software provides real-time tracking and info updates for your investments and taxes.

Cointracker provides crypto gains and crypto tax reports utilizing IRS Form 8949, assisting you in lowering your taxes by collecting crypto token losses. The software syncs your portfolio data automatically depending on real-time market events to provide a clear image of your investments.

You may connect to it with your accounts from nearly all exchanges and wallets. You can also export your financial records or capital gains for your tax software and even check your tax summary per wallet.

You can use the app to generate accurate performance reports that will allow you to calculate your genuine return on investment over time. Additionally, you can view all of your transactions in one view, along with your earnings and costs. The software itself is simple to use, thanks to its simple user interface.

Cointracker's customer service is also excellent and it makes it the best crypto tax software for TurboTax.

CoinTracker has a free plan. With the free plan, you may begin tracking and preparing your taxes for up to 25 transactions. The Hobbyist paid plan costs $59 per tax year and covers 100 transactions. The Premium paid plan costs $199 per tax year and covers up to 1,000 transactions. For a unique quote, there is also the Ultimate plan, which covers limitless transactions and additional features.

BearTax is another good option among these platforms that is sure to assist you with your taxes. It offers all of the functionality you need to calculate your cryptocurrency taxes. It allows you to import data from all accessible exchanges. It next runs the received data through top-of-the-line gain/loss calculators.

BearTax smart Tax's matching technology can assist you in identifying nontaxable transactions, as opposed to just adding them to your reports. It also provides the most up-to-date historical rates. This is a trait that sets it apart from the competition. When it comes to bitcoin taxes, professional traders would undoubtedly embrace them.

BearTax is great for accountants who want to take on more clients and do their crypto taxes most efficiently. Unlike some other services, this one allows your clients to keep their privacy while still receiving high-quality information. It also offers TurboTax integration and thus adds to this list of the best crypto tax software for TurboTax.

BearTax 's basic package costs $49 per year for up to 200 transactions. The top-tier plan will cost you $499 per year for 1,000,000 transactions, while the second tier is $149 per year for up to 25,000 transactions.

Koinly is a cryptocurrency tax software that contains global crypto tracking services as well as tax filing options. It offers full support in over 20 nations around America, Europe, and Asia. Furthermore, Koinly supports over 6,000 cryptos and integrates with 350 exchanges, including Binance, Coinbase, and Kraken, via API and CSV.

Koinly offers a variety of tax reports, such as numerous cost-basis methodologies, small transfer matching, and crypto profits and margin trading summaries. Koinly as a world-famous day trading tax software, also allows staking, lending, and interfaces with decentralized finance platforms.

The platform also provides live chat and email support. You can also view a list of tax specialists available for each tax jurisdiction they serve on their website.

Koinly integrates with TurboTax, TaxAct and H&R which makes it a great tax software for professionals. The site itself is preferable to users with more experience and participation in the crypto market. It features an extensive interface with connections to numerous exchanges. Overall, Koinly is the best crypto tax software for TurboTax.

Koinly is available for free, and while the functions are limited, you can use it to properly determine the capital gains tax you must pay each year. If you wish to use this cryptocurrency tax software's more advanced capabilities, you can pay between $49.00 and $179.00 for a package that enables more transactions and provides complete customer assistance.

Bitcoin Taxes crypto tax software is perhaps one of the simplest tools for calculating your taxes, and it's certainly the most inexpensive. Bitcoin Taxes can import trades from almost every prominent exchange, compute capital gains, and export tax-ready reports for a fraction of the cost of other companies on this list. It also integrates with TurboTax and thus adds to our list of the best crypto tax software for TurboTax.

The Bitcoin Taxes site is also great, answering all of your inquiries right away. It provides multi-year support, supports several currencies, and includes important packages for tax preparers and experts. Bitcoin Taxes is a must-try if you need full crypto tax services and audit defence. Its professionals assist you not only file your taxes but also in getting started with crypto investing.

Moreover, Bitcoin Taxes is well-equipped to manage complex crypto accounts with missing transactions, lost records, or even unmatched transactions. The platform's most distinctive service is its audit defence mechanism. Bitcoin Taxes has your back at all times, from protecting you before the IRS to responding to a criminal inquiry.

Bitcoin Taxes will cover up to 20 transactions for free. Aside from the number of transactions, the free plan has no further restrictions, unlike many other providers. Premium covers 1,000 transactions for $39.95 every tax year, followed by Premium Extra, which covers 5,000 transactions for $49.95. Finally, at $59.95, Deluxe covers up to 10,000 transactions. The Trader plans price $129, $189, $249, and $379 per tax year for up to 50,000, 100,000, 250,000, and 500,000 transactions.

Ledgible offers two distinct platforms for tracking cryptocurrency taxes. These platforms can be used by both tax experts and regular people. It has a user-friendly dashboard as well as advanced reporting. Its most famous reports include IRS Form 8949, TurboTax Import, Transaction Export and Tax Act Import.

The platform allows you to track your cryptocurrency activity for the entire year. It also calculates how much tax you would owe based on the number of assets you hold. It contains on-chain functionality that let you keep track of when your crypto holdings move between wallets and exchanges. 

Ledgible Crypto Tax Pro, on the other hand, was created to help Certified Public Accountants (CPAs) and tax preparers streamline their process. This crypto tax tracker employs enterprise-level security, SOC 1 and SOC 2, to safeguard your and your client's financial information.

Automated reporting, real-time reports, and transaction matching are among the other capabilities. These two systems are the best tax software for bitcoin for consumers who seek a platform that integrates with wallets, blockchains and various accounting software such as TurboTax. Overall, Ledgible is the best crypto tax software for TurboTax in the market.

The Ledgible pricing model is usage-based. $49 gets you tax-year reports and up to 200 transactions. The charge increases by $50 for the next 200 to 1,000 transactions. Finally, you must add $100 to the initial price for every 2,500 additional transactions. You can do an unlimited number of transactions.

TokenTax is the best crypto tax software for TurboTax in the United States since it supports many crypto exchanges. It has complex software features such as margin trading taxes, ad hoc accounting, and IPO tax preparation. In addition, a staff of professional accountants works behind the software to give tax-reduction strategies that save money.

TokenTax also integrates with crypto tax software to make figuring out your taxes easier. It makes no difference where you are because the software interfaces with all exchanges, allowing for international tax calculations.

TokenTax is also very simple to use. The dashboard walks you through practically every step of the data upload process. After that, you can select the accounting technique you want to employ to compute your taxes.

TokenTax can be reached via email, live chat, or phone. It also has an excellent reference area that assists newcomers in learning how to utilize the software. You can use their affiliate programs if you are a business.

The Basic plan of TokenTax crypto trader tax software costs $65.00 each tax year and tracks up to 500 transactions on Binance and Coinbase exclusively. However, if you trade on numerous exchanges, the Premium package costs $199.00 each tax year and includes crypto tax software interfaces on every exchange, with a maximum transaction volume of 5000.

The main goal of using crypto tax software is to avoid manually dealing with all of your data. The data contains dates, token prices at the moment of transactions, the number of assets, how long you held the tokens, and so on.

It not only takes a lot of time and effort for a professional trader that does a lot of trades every day. Secondly, manual data entry increases the likelihood of errors. So, you must seek out crypto tax software that can automatically import data from your wallet whenever you make a transaction.

Working with only the IRS Form 8949 can be difficult. Most cryptocurrency tax software provides pre-filled paperwork that users can easily download and file.

However, ensure that the software's crypto tax calculator is 100% accurate so that you can trust the pre-filled documents. A decent tax program will show your audit track, worldwide taxes, gains and losses, and more.

Currently, a large range of cryptos can be purchased. The crypto tax software should be capable to integrate with all major tokens. This way, if you invest in various coins, you can still use the same app to calculate all of your taxes.

Switching apps and manually tallying token taxation may discourage you if you value convenience and ease of use. Even if you simply invest in one crypto great tax software will allow you to shift to other assets later without any difficulties in tax calculations.

Tax errors can be costly, resulting in substantial penalties. If the IRS discovers any errors in the reports you provide, you could face tax evasion charges. So, it is critical to select reputable crypto tax software.

Finally, examine how much crypto tax software will cost you. Software prices vary based on integrations, bandwidth, transactions, etc. Even though you shouldn't spend too much on software, sometimes it is worth it to upgrade your plan for better tax software. 

Different crypto tax software will have different functionalities. But here are a few crucial aspects to look for while choosing crypto tax software:

• The software should recognise transactions between your wallets. Counting these transactions incorrectly may increase your taxes.

• The software should detect and eliminate duplicate transactions from forms. This saves you the trouble of checking such transactions.

• A decent tax software dashboard will display all the necessary information. A well-designed dashboard can greatly ease tax preparation.

• Top crypto tax software lets consumers engage a tax staff to double-check reports and perform other jobs. This function may help if you are too busy trading crypto.

These characteristics make crypto tax software easy to use.

The IRS considers cryptocurrency to be a sort of property rather than a currency. You must pay income taxes on the current value of Bitcoin if you get it as payment. If you profitably sell crypto, you have to pay taxes on the difference between the purchase price and the sale income.

If you are new to cryptocurrency, you may want to know the fundamentals such as what is crypto tax, what taxes you must pay on your cryptos, what is crypto gains tax, and more so understand the crypto taxes with us.

To avoid negative consequences, individuals who deal with cryptocurrency should file their taxes with a crypto tax report. Also, whether you're HODLING Shiba INU, Dogecoin, or day trading Litecoin, knowing your tax situation will help you avoid costs and penalties later on.

Learn how to calculate crypto taxes with a Crypto Tax Calculator.

During 2021 and 2022, a lot of people started investing in cryptocurrency, which gave it a significant boost. Different countries have different regulations and taxes related to Bitcoin and other cryptos.

If you are thinking about investing in cryptos, you may be wondering how crypto is taxed in different countries. Read our quick guide to the various crypto tax rules in different countries.

TurboTax provides both free and upgraded versions of its software to regular consumers and experts. This makes it simple for everyone to remain on top of their tax obligations.

TurboTax offers a number of different versions of its crypto tax software, each designed to suit the needs of different users. Such as TurboTax Premier can handle your stock, bond, ETF, crypto, rental property income, and other investments.

• Free Edition ($0): The Free Edition includes unemployment income, W-2 income, retirement distributions, some 1099 interest and dividends, the Earned Income Tax Credit (EITC) and the Child Tax Credit (CTC), but you can't itemize your deductions. This package is not for you if you want to claim student deductions or credits.

• Deluxe ($59): This is the most popular version of Intuit's software, according to Intuit. It adds tax itemization and mortgage interest to the free edition. This package lets you claim student deductions and credits.

• Premier ($89): Investors, including landlords, need TurboTax Premier. This edition even lets you auto-import investment data from leading banks and brokerages.

• Self-Employed ($119): TurboTax Self-Employed is for entrepreneurs. It covers rideshare drivers, freelancers, and small company credits and deductions. A free QuickBooks subscription for expenditure tracking is included.

Yes, the TurboTax deluxe version does include Schedule C tax forms. TurboTax Deluxe includes the 1040 form with itemized deductions (Schedules 1-6, Schedule A and Schedule C income), as well as everything found in the Free Edition and PLUS editions.

There is no one "ideal" program for crypto taxes because each user has distinct demands and preferences. However, among the most popular solutions are TurboTax, CoinLedger, and ZenLedger. These tools provide a variety of features and features to assist you in meeting your tax reporting obligations for bitcoin trading and investments. Whether you are a novice investor or a seasoned trader, there is certainly a crypto tax software solution that can match your requirements.

TurboTax has you covered with Coinbase. Whether you invest in cryptocurrency through Coinbase, Robinhood, or another exchange, TurboTax Online can help you import and understand cryptocurrency taxes just like any other investment.

So we discussed that there are several factors to consider when choosing crypto tax software. These include the number of exchanges offered, integration with other accounting software and platforms, and free trials. Software pricing and usability are also significant. Finally, look at any extra features that different tax software may provide, such as margin trading taxes, ad-hoc accounting, and IPO tax planning.

The listed best crypto tax software for TurboTax such as TokenTax, Koinly and others are great for filing your taxes. Regardless of which software you choose, remember to always stay up-to-date on the latest crypto news and regulations to minimize your tax burden.