Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.

TokenTax review 2023

This crypto tax software simplifies tracking your crypto trades and tax liability.

Avatar

By

Helen Champion

Edited by

David Gregory

Updated

Fact checked
Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Verdict

TokenTax is a crypto tax software platform and an accounting firm all rolled into one. It can help you calculate your crypto taxes with ease, whether you’re a newbie or an experienced trader.

It has 4 plans to choose from depending on the number of crypto transactions you make, but you’ll have to upgrade to either Premium, VIP or Enterprise to automatically sync with exchanges and wallets as the entry-level plan “Basic” only supports syncing with Coinbase.

If you exceed your transaction limit, you can add more transactions for an additional fee. You can also add margin data processing.

Each of the 4 plans has a fee, so there are no free plans on offer and no free trials for you to benefit from.

Pros and cons

  • TokenTax has 4 plans, which will suit most crypto traders.
  • Supports all crypto exchanges around the world
  • There’s no free plan

How does TokenTax work?

TokenTax works by collating all your past crypto trading transactions in one place. Depending on the plan chosen, it can also automatically sync with your exchanges and wallets with API or CSV to gather ongoing transactions. TokenTax uses this data to calculate your crypto gains and losses and the tax you may owe to Revenue. It provides all the necessary information to complete and file your tax return.

At any point during the financial tax year, you will be able to preview your tax bill so that you can keep track of how much tax you owe to avoid any nasty surprises just before you complete your tax return.

What are the main features of TokenTax?

The core features of TokenTax include the following:

  • Auto sync transactions. TokenTax can sync with API exchanges and wallets that you use and track your crypto transactions.
  • DeFi and NFT support. As technology in cryptocurrency evolves, TokenTax can support your DeFi and NFT activity.
  • Tax calculator. Automatically generates tax reports from your data.
  • Preview your tax bill. You won’t have to worry about how much tax you could owe on the crypto gains you make as you’ll be able to check out what your tax bill is in real time.
  • Every tax form you could need. TokenTax claims to be able to generate any tax form you need to complete your tax return.

How much does TokenTax cost?

TokenTax has 4 plans to suit the number of transactions you make:

TokenTax can increase any plan’s transaction limit for an extra fee. You can save 10% off the annual price of a plan by signing up for more than one financial year.

Does TokenTax support Irish tax?

TokenTax offers its full crypto tax services to customers in Ireland and any other country wishing to calculate taxes relating to their crypto capital gains and losses over the last financial year.

TokenTax uses an average cost basis accounting method to generate a capital gains and losses report for its customers in Ireland, and the dashboard can be customised to reflect calculations in euros.

Is TokenTax safe?

TokenTax endeavours to keep all your information safe through encryption. While it can sync with exchanges and wallets to track your transactions, TokenTax can’t access any other information or the crypto assets you hold.

Take a look at TokenTax

TokenTax example report
CoinTracker supported exchanges and wallets
TokenTax tax preview report

Customer reviews

TokenTax scores 4.3 out of 5 based on 125 reviews and is rated Excellent on Trustpilot.

User ratings# of reviewsWhat do customers say
4.3 / 5125
  • “I have used TokenTax for 2 years in a row and they have been great both times. I used their VIP service this year since I used a number of different chains and had some non traditional transactions. The team was responsive, professional and knowledgeable. I would 100% recommend their service for any level of crypto tax help.” — David
  • “TokenTax is hands down the most phenomenal tax service I have (ever) used, crypto or otherwise. The staff in all departments are beyond helpful, and really take the time to explain how the process works, as well as help you identify any potential errors and issues. I will be using them every year going forward, as they have more than earned my appreciation and respect.” — Brett Whitaker
  • “Frustrated with this site. Cost basis missing even when all (crypto) coins are fully accounted for. Deleting and restarting API data is loading for 1/2 of the year, where it was fine before I wish I had saved US$200, I can’t get the thing to work. I know it doesn’t work because it works on other sites with access to the same data. Taxes are due and I am forced to use a different service. ” — BANANAPANKACKE

*Note: Information provided is based on the reviews and rating on Trustpilot (22 November 2022).

TokenTax customer support

How you contact TokenTax will depend on the plan you choose, but you can use the following:

  • Live online chat

How to sign up to TokenTax

  1. To get started with TokenTax, visit the website and click on “Sign Up”.
  2. All you have to do is enter your email address and create a password. Select your plan and that’s it. Your account will be created and you can now start importing your crypto transactions so TokenTax can calculate your tax liability.

Alternatively, you have the option of signing up with your Google account login details.

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

More guides on Finder

  • Koinly review 2023

    We look at Koinly Ireland and how it can help you track your crypto transactions and calculate the tax you owe.

  • CoinTracker review 2023

    We look at how CoinTracker works and the plans that could help you streamline your Ireland crypto tax reporting.

  • CoinTracking review 2023

    We look at how CoinTracking works and the plans that could help you streamline your Ireland crypto tax reporting.

  • Crypto Tax Calculator review 2023

    With four plans to choose from, Crypto Tax Calculator can simplify your crypto tax reporting. We look at its features, costs, safety and more.

Go to site