Top 10 Best Crypto Tax Calculators in 2021
Are you tired of manually calculating your cryptocurrency taxes? Look no further than the top 10 best crypto tax calculators for 2021. These tools can save you time and ensure accuracy when it comes to reporting your crypto profits and losses to the IRS.
Discover the most popular options on the market, including CoinTracking, CryptoTaxCalculator, and ZenLedger. Each platform offers unique features such as automatic API integrations, multi-currency support, and detailed tax reports.
Whether you're a seasoned crypto trader or a beginner who's new to reporting taxes on digital assets, these tax calculators are a must-use. Say goodbye to spreadsheets and complicated formulas, and say hello to simplified tax reporting with these top-notch tools.
Don't risk making costly mistakes or spending countless hours manually calculating your crypto taxes. With the help of these top 10 crypto tax calculators, you can streamline your tax reporting process and focus on what matters most – growing your crypto portfolio. So why wait? Dive into this comprehensive guide and start managing your crypto taxes like a pro today.
Introduction
Cryptocurrency trading has been on the rise lately, and so are the requirements for reporting taxes on digital assets to the IRS. This can be a daunting task, but luckily there are now several available crypto tax calculator software that can help make the process much easier. In this article, we will provide a comprehensive guide to the top 10 best crypto tax calculators for 2021 that can assist you in simplifying your tax reporting process.
Why use a Crypto Tax Calculator?
Calculating taxes for traditional investments is relatively easy, but with digital asset investments, complexities arise. Crypto tax calculators can help you calculate your gains and losses quickly and accurately, without the tedious process of manually doing it yourself using spreadsheets or complicated formulas. They can also generate detailed tax reports, making it easier for you to comply with taxation regulations.
Top 10 Best Crypto Tax Calculators for 2021
Here are some of the best crypto tax calculators that you can use for your reporting purposes for 2021.
| Name | Features | Price | Platforms Supported |
|---|---|---|---|
| CoinTracking | Automatic API integrations, Real-time data monitoring, Tax reports customization | Free-$179/year | Web-based, Mobile app |
| CryptoTaxCalculator | Multi-currency support, Tax-loss harvesting feature, Secure data management | $49-$299/year | Web-based |
| ZenLedger | Smart matching algorithm, Multiple Exchange API connections, Advanced tax optimization techniques | $149-$899/year | Web-based, Mobile app |
| TaxBit | Easy import of data, Detailed tax forms, CPA and Accounting integration | Free-$2000+/year | Web-based |
| Koinly | Real-time exchange rate API, Easy generation of tax reports, Secure data storage | Free-$379/year | Web-based |
| Coinpanda | Automatic blockchain sync, User-friendly interface, Tax laws compliance | $49-$399/year | Web-based, Mobile app |
| Cryptotrader.tax | Automated IRS forms filling, Year-end capital gains calculation, Free live chat support | $49-$499/year | Web-based |
| Bittax | International tax compliance, Efficient tax-loss harvesting, Advanced analytics | $99-$999/year | Web-based, Mobile app |
| TokenTax | Flexible data importing, Accurate tax reports, Tax guidance from professionals | $49-$499/year | Web-based |
| Accointing | Manual & automated imports, Smart labeling algorithm, Historical portfolio insights | Free- $399/year | Web-based, Mobile app |
Features Comparison
Let's get a detailed overview of features comparison for the above mentioned 10 cryptocurrency tax calculators:
| Name | API integrations | Multi-currency support | Tax loss harvesting | Secure data management | Currency exchange API support |
|---|---|---|---|---|---|
| CoinTracking | Yes | Yes | No | Yes | Yes |
| CryptoTaxCalculator | No | Yes | Yes | Yes | No |
| ZenLedger | Yes | Yes | No | Yes | Yes |
| TaxBit | Yes | Yes | No | Yes | Yes |
| Koinly | Yes | Yes | No | Yes | Yes |
| Coinpanda | Yes | Yes | No | Yes | Yes |
| Cryptotrader.tax | No | No | Yes | Yes | No |
| Bittax | Yes | Yes | Yes | Yes | Yes |
| TokenTax | Yes | Yes | Yes | Yes | Yes |
| Accointing | Yes | Yes | No | Yes | No |
Conclusion
The process of calculating your cryptocurrency taxes can be daunting, but with the help of reliable crypto tax calculators, you can simplify this process. In this article, we listed some of the best crypto tax calculators for 2021, along with a comparison of their features. We hope this guide helps you choose the one that best fits your needs and allows you to focus on what matters most – growing your crypto portfolio.
Thank you for taking the time to read our article on the Top 10 Best Crypto Tax Calculators in 2021. We hope that you found it informative and helpful in your quest to manage your cryptocurrency investments and stay compliant with tax laws.
The crypto industry is constantly evolving, and tax regulations can be complex and confusing. With the help of these top-rated tax calculator tools, you can simplify the process and accurately calculate your taxable gains and losses.
Remember to always consult a tax professional if you have any questions or concerns regarding your cryptocurrency taxes. With the right tools and guidance, you can successfully navigate this exciting but often challenging financial landscape.
People Also Ask About Top 10 Best Crypto Tax Calculators in 2021
- What is a crypto tax calculator?
- Why do I need a crypto tax calculator?
- What are the best crypto tax calculators?
- CoinTracking
- TaxBit
- Koinly
- Cryptio
- CoinTracker
- Accointing
- Blox
- TokenTax
- Bitcoin.Tax
- ZenLedger
- Which crypto tax calculator is the most accurate?
- Are crypto tax calculators free?
- Can I use a crypto tax calculator for multiple exchanges?
- Do I need to report my crypto trades to the IRS?
- How do I use a crypto tax calculator?
- Can I get help with my crypto taxes?
- Is it legal to use a crypto tax calculator?
A crypto tax calculator is a software tool that helps cryptocurrency traders and investors calculate their tax obligations based on their trading activities.
You need a crypto tax calculator to accurately calculate your tax liabilities and avoid penalties from tax authorities. It can also help you identify potential tax savings opportunities.
Here are the top 10 best crypto tax calculators in 2021:
The accuracy of a crypto tax calculator depends on various factors, such as the complexity of your trading activities and the tax laws in your jurisdiction. However, most of the top crypto tax calculators are highly accurate and reliable.
Some crypto tax calculators offer free plans with limited features, while others require a subscription or one-time payment for full access to their tools and services.
Yes, most crypto tax calculators support multiple exchanges and wallets, allowing users to consolidate their trading data in one place.
Yes, in the United States, cryptocurrency transactions are subject to taxation and must be reported to the Internal Revenue Service (IRS). Failure to do so can result in penalties and fines.
Most crypto tax calculators require users to import their trading data from their exchanges or wallets and generate a tax report based on their transaction history. Users can then use this report to file their taxes or consult with a tax professional.
Yes, many crypto tax calculators offer additional services such as tax consulting and preparation to help users navigate the complex world of cryptocurrency taxation.
Yes, using a crypto tax calculator is legal and can help you comply with tax laws in your jurisdiction. However, it's important to use a reputable and trustworthy platform to ensure the accuracy of your tax calculations.