Efrom cryptocurrencies became taxable, the miners tried to find the perfect software that can help them calculate their taxes accurately. When this announcement was made, the IRS in the United States made the following announcement on its official website regarding cryto-taxation:
“The sale or other exchange of virtual currencies, or the use of virtual currencies to pay for goods or services, or the holding of virtual currencies as an investment, generally has tax consequences which could trigger a tax liability. ” Since crypto is considered property, you need to have a good idea of tax liability and know which software helps you best. Here are the top five software to best manage crypto tax.
This app makes it easy to import your data and download capital gains tax forms such as 8949, Schedule D and export to Turbotax. As an interface, the handling becomes quite simple and intuitive after a few minutes inside. It supports the US, UK, Canada, Australia and many other countries. The price range is $49 to $400 per year depending on the characteristics and number of crypto transactions.
This one gives you a quick and easy way to calculate crypto taxes and integrates directly with Turbotax. It supports many countries which include the United States and Canada. As for the price range, it goes from $49 to $299 per year based on the number of crypto transactions.
With Accompaniement, you can track your crypto wallet at the same time as you keep your own track of every transaction you make. This allows you to print a tax report at any time. All trades are allowed to export in the ideal format for countries like the United States, United Kingdom, Austria, Germany and Switzerland. The price range is from $0 to $299 per year depending on your crypto trades.
Parts Tracking analyzes trades and generates real-time profit and loss reports. It also ensures close monitoring of your piece of money value, realized and unrealized gains and tax report has direct access to Turbotax. The price range is from $0 to unlimited depending on your cryto transactions per year.
This is a reliable and easy-to-use tax solution for crypto, DeFi and NFT. Coinpanda is currently in limited countries, but it operates in the United States, Canada, United Kingdom and other countries of the European Union. The price range starts at $0 and goes up to your yearly crypto trades. it supports over 500 exchanges, wallets and blockchains and also has direct access to Turbotax.