Crypto Tax Software for Beginners and Experienced Traders (2024)

Whether you're a seasoned trader, cryptocurrency newcomer, investment fund manager or tax professional, CoinTracking is equipped with a range of features that will make your life easier!

New to CoinTracking and excited to test out all the features? Here is a short summary of what you can expect from our software.

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CoinTracking works with all the most popular exchanges

Coinbase, Binance, Kraken, Bittrex, Huobi and Poloniex are just a few of the big name exchanges that you can link directly to CoinTracking. We support more then 100 different exchange imports, in all. We even support legacy exchanges via CSV that are no longer operational.

There are two main methods you can use to copy data from your cryptocurrency exchange account to CoinTracking: API transfers and CSV uploads. Manual CSV uploads are part of CoinTracking Free, while all upgraded users can connect their exchanges through API so that their data updates fully automatic each day.

From the CoinTracking website, you’ll find step-by-step directions for setting up CSV and API imports for all the exchanges we support when you navigate to Enter Coins → Exchange Imports. More detailed information is available on our support site.

Best-in-class exchange API integration

There aren’t many tax applications that can import data from cryptocurrency exchange APIs. One reason for this is that each cryptocurrency exchange uses a different API format. Designing software that is compatible with all the most popular exchanges and keeping up with all the API changes takes dedication and know-how.

One key reason why we have surpassed the 1,760,000 user mark is that we not only support all the major cryptocurrency exchange APIs, but also keep up with all their constant changes and updates. It takes dedication, hard work and know-how to keep up with cryptocurrency exchange APIs, which change often. Each time a cryptocurrency exchange modifies their API, we react quickly to make sure that our CoinTracking users can still get the data they need to do their taxes.

Crypto beginners: generate tax reports with us for free!

Since 2013, we’ve been supporting the cryptocurrency community by letting beginners create tax reports for free. If you made 100 or less trades during the year, you can create as many tax reports as you like.

The fact that there is no limit to the number of reports you can make means that you can recalculate your crypto taxes as many times as needed. This lets you experiment with our software and learn how it works. You can also do things like try out several different accounting methods, correct mistakes and add additional data to your tax report.

We help experienced traders use multiple cryptocurrency exchanges with ease

As you gain cryptocurrency trading experience, you may find yourself using three or more crypto exchanges. The reason for this is that newly released coins often appear on smaller exchanges first before the larger ones list them. The more exchanges you use, the more work you have to do to gather the information you need to file your taxes accurately.

CoinTracking streamlines all this and lets you save all your trading data in one place. If all the exchanges you use have APIs that are compatible with CoinTracking, you can get all the basic information you need to create a tax report with the push of only a button.

Get professional tax advice with CoinTracking Full-Service

Our brand new CoinTracking Full-Service plan connects you with CPAs and Enrolled Agents in the United States. These tax professionals are experts in both American and international tax laws, so they can assist you with filing your taxes.

Whether you need help with a complex tax issue or simply want to have an expert check your tax report before you submit it to the tax office, our team of professionals will give you the assistance you need. Because all the accountants that we work with are experienced with our software, they can also assist you with importing your data from exchanges and other similar technical tasks.

Export to popular tax programs and print tax forms

After you create a CoinTracking tax report, you can export it to a variety of different tax software platforms. CoinTracking works with TaxACT, TurboTax, Drake and the German WISO Software. You can also save your data as a CSV or PDF file or export directly to Excel.

Some United States tax forms - like IRS forms 8949 and Fincen 114 (FBAR) - can be generated within the CoinTracking interface. Form 8949 is the document that indicates capital gains and losses and Fincen 114 is for reporting foreign bank account holdings. Simply create a tax report and select one of the download buttons to generate either form.

International support for tax authorities all around the world

Most tax authorities allow you to pick from several different cost basis accounting methods, but others - like the UK’s HMRC and Canada’s CRA - use unique cost basis methodologies. We support 12 different tax calculation methods, ranging from commonly used ones like FIFO and LIFO to more complex ones, like the accounting method used by the UK’s HMRC.

Instantly share your data with your accountant

You can share your account with tax professionals that subscribed to CoinTracking Corporate with just a few clicks. This helps save you and your accountant valuable time when sharing data.

Besides tax professionals there are also many other companies like fund managers you can share your account with for a better collaboration.

Look up crypto tax experts and find information about cryptocurrency tax laws

In addition to CoinTracking Full-Service, those who need professional tax advice have yet another resource at their fingertips. Our international crypto tax consultant database helps you find tax experts located all over the world. It’s an easy-to-navigate list that links to information about tax laws in over 75 different countries. We provide this information free of charge to anyone who needs it. In other words, you don’t even need to sign up for CoinTracking if all you want to do is access the database or look up tax laws.

Keep track of airdrops, lost funds, salary income, mining income, donations, hacked funds and more

Your tax situation changes with the way you use cryptocurrency. That’s why CoinTracking does more than just help you account for your trades, deposits and withdrawals.

If you do more than just buy and trade cryptocurrency, you can designate different transaction types by using CoinTracking’s detailed annotation features.

CoinTracking lets you quickly identify all the transactions that you need to annotate. You can use filters to identify all of your mining income deposits, for example. Once you’ve filtered out all your other transactions, you can label the remaining transactions in the appropriate way.

The best crypto tax solution for HODLers

Many cryptocurrency investors simply buy cryptocurrency and HODL - or, Hold On for Dear Life. One big advantage of HODLing is that you most likely won’t trigger any tax events if you don’t sell. However, even HOLDers should keep track of their cryptocurrency purchase dates for tax purposes. Your tax authority needs to know the price at which you initially bought your cryptocurrency.

All you need is a free CoinTracking account to keep track of this information. When you do decide to cash out or use your cryptocurrency to buy something, your records will be consistent and you'll be able to submit an error-free tax report at the end of that year.

Since you don’t have to pay for CoinTracking unless you’re a frequent trader, most HOLDers don't have to pay anything when they use our software.

Account for trading bots with CoinTracking Unlimited

Day traders, arbitrage traders and traders that use bots benefit the cryptocurrency industry as a whole because they increase liquidity. Arbitrage traders are especially beneficial because they help average out the price differences between individual cryptocurrency exchange marketplaces.

However, professional crypto traders often have a tough time at tax season. Some accumulate hundreds of thousands of trades during a single tax year - sometimes even millions of them. CoinTracking is one of the very few crypto tax programs that can handle that type of volume. Our CoinTracking Unlimited subscribers can process an unlimited number of trades and the membership level is therefore perfect for users with with a large number of transactions.

Intuitive reports to help you understand the way you trade

CoinTracking offers more ways to look at your crypto data than any other crypto tax software platform. With just a few clicks, you can look at the historical value of all your coins over time, check your coins’ holding periods, scan for duplicate data, see how your portfolio stacks up against other CoinTracking traders and more.

An easy way to track day-to-day cryptocurrency purchases

Many tax authorities require crypto users to keep track of everything they buy. This makes it a hassle to use cryptocurrency in stores to make small purchases.

One easy way to keep track of your day-to-day crypto spending is by using separate cryptocurrency wallets - or perhaps just one Bitcoin wallet - for all your small purchases. Then at the end of the year, you can import all the transactions from these wallets directly into CoinTracking. CoinTracking supports all the most popular wallets, including Trezor, Blockchain.info, Electrum, Exodus and many others. In addition to wallet address import APIs for big coins like BTC, ETH, BCH and BSV, our Altcoin Wallet import feature can copy data transaction data from over 200 different altcoin wallets.

Get help from our large user community and knowledgeable support team

CoinTracking started operating in 2013. Since that time, we’ve been helping cryptocurrency users figure out ways to export their trading data from exchanges.

Over the years, we’ve developed a wide range of workarounds to help CoinTracking users that trade through exchanges that don’t have great export features. Our detailed support site contains many useful knowledge base articles. These will steer you through the process of exporting your data not only from all the major exchanges, but also quite a few obscure ones.

As you get more involved in the cryptocurrency space, you’ll find that many exchanges simply don’t do enough to ensure that their customers have all the data they need to do their taxes at the end of the year. For example, we often encounter exchanges that only allow their users to export a few months of data. Other exchanges let you export as much data as you want, but the file you get at the end of the process doesn’t contain all the information you need.

We’ve managed to find workarounds for these issues and more. If you need help, all you have to do is ask.

In addition to our experienced and fast support team, another free resource that you can take advantage of as a beginner is our large, friendly user community. CoinTracking users help each other out on the BitcoinTalk forums, and members of our technical support team regularly give advice there as well. Our experienced support staff aims to answer all questions within a day. Whether you need help getting started or have a more detailed problem, we’re standing by to help.

Export your CoinTracking data at any time

CoinTracking allows you to export every report into formats like CSV, PDF, Excel and more. You can even download all charts as PNG, SVG, JPG or PDF. In addition we provide many tax exports like Form 8949, TaxACT, TurboTax, Drake and WISO.

CoinTracking is one of many cryptocurrency-related services that works with Cryptosheets - a free-to-use plugin for Microsoft Excel and Google Sheets. Mining profits calculator WhatToMine, cryptocurrency data provider CoinMetrics.io and the over-the-counter trading automation service Paradigm are just a few of the other data sources that Cryptosheets can pull from. Like CoinTracking, Cryptosheets offers a free subscription option. Sign up for Cryptosheets and CoinTracking and start getting creative with your trading data today!

Import data from Mt. Gox and other defunct crypto exchanges

Mt. Gox, Canada’s QuadrigaCX, Australia’s Cryptopia and other early exchanges have shut down in recent years, leaving many of their customers wondering how to report their trading activities to tax authorities. To meet this need, CoinTracking has maintained support for those and ten other legacy exchanges.

Restore your account from a backup in case you make a mistake

Many cryptocurrency traders are able to use CoinTracking to do their own taxes. The interface is easy to understand, even if you’re not a professional accountant.

If you do happen to make a mistake, you can simply restore your data from a backup.