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CryptoTrader.Tax review: Automatic cryptocurrency tax reports

Find out how to automatically build cryptocurrency tax reports with CryptoTrader.Tax and how it compares to other options.

  • Good for generating crypto tax reports very quickly and easily, TurboTax integration
  • May take longer to add airdrops, mining income, gifts and other non-purchased cryptocurrency.

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.

What is CryptoTrader.Tax?

CryptoTrader.Tax is a program that automatically generates tax documents for your cryptocurrency holdings.

When you finish using it, you will have the following:

  • Completed IRS Form 8949
  • Audit trail report
  • Cryptocurrency income report
  • End of year positions report
  • TurboTax online direct import

To help minimize your tax paid on crypto earnings, CryptoTrader.Tax lets you choose either LIFO or FIFO for calculating liabilities.

How to use CryptoTrader.Tax

Using CryptoTrader.Tax is a three-step process.

How much does it cost to use CryptoTrader.Tax?

There are four different tiers available. The main difference between them is the number of trades supported.

The fees below are accurate as of 17 October 2021.

TierCostWhat you get
HobbyistUS$49 per tax seasonUp to 100 trades
Live chat support
Pro TraderUS$99 per tax seasonUp to 1,500 trades
Live chat support
High Volume TraderUS$199 per tax seasonUp to 5,000 trades
Priority support
UnlimitedUS$299 per tax seasonUnlimited trades
Priority support

Key features of CryptoTrader.Tax

Which reports does it offer?

CryptoTrader.Tax offers a thorough set of tax reports on completion, an audit trail report and an end-of-year positions report.

How do I import information to CryptoTrader.Tax?

You can directly import trading information from 28 different exchanges. For unsupported exchanges, you can download reports from the exchange and then upload these to CryptoTrader.Tax.

You can manually add airdrops, ICOs, mining revenue and similar if needed.

What exchanges does CryptoTax support?

CryptoTax lets you directly import data from the following exchanges and wallets:

In a nutshell

Pros

  • Cost-effective. CryptoTrader.Tax offers good value compared to some equivalent products, especially in the US$49 for up to 100 trades tier.
  • Comprehensive tax reports. CryptoTrader.Tax saves even more time by giving you a thorough selection of completed documentation.
  • One-off payments. You probably only need CryptoTrader.Tax at tax time, so the fee comes as a one-off payment at tax time.
  • Wide exchange support. CryptoTrader.Tax supports a wide range of popular exchanges.

Cons

  • US-focused. While the documents provided are useful time-savers anywhere, some of CryptoTrader.Tax’s documents provided, such as the IRS Form 8949, are specific to the United States.

Compare CryptoTrader.Tax against other crypto portfolio tracker apps

Name Product Pricing by tier (per year) Supported exchanges
CryptoTaxCalculator Cryptocurrency Tax Reporting
CryptoTaxCalculator Cryptocurrency Tax Reporting
  • Rookie: $49/year
  • Hobbyist: $99/year
  • Investor: $189/year
  • Trader: $299/year
Supports all US and international exchanges such as Binance, Coinbase, and Gemini.
This Australian-made software helps you file your ATO crypto tax return and generates tax reports on all financial years.
Koinly Cryptocurrency Tax Reporting
Koinly Cryptocurrency Tax Reporting
  • Free⁠ — basic plan
  • US$49 ⁠— 100 trades
  • US$99 ⁠— 1,000 trades
  • US$179 ⁠— 3,000 trades
  • US$279+ — 10,000+ trades
Supports all major exchanges
Koinly can produce detailed cryptocurrency tax reports in under 20 minutes. The basic plan only allows tracking and cannot generate tax reports.
CoinTracking Cryptocurrency Portfolio Tracking and Tax Reporting
  • Free ⁠— 200 trades
  • US$120~ ⁠— 3,500 trades
  • US$186~ ⁠— 20,000 trades
  • US$300~ — 100,000 trades
  • US$600~ Unlimited
Supports all major exchanges
Track trades and generate real-time reports on profit and loss, the value of your coins and more. Two year and lifetime plans also available.
CryptoTrader.Tax Cryptocurrency Tax Reporting
CryptoTrader.Tax Cryptocurrency Tax Reporting
  • US$49 ⁠— up to 100 trades
  • US$99 ⁠— up to 1,500 trades
  • US$199 ⁠— up to 5,000 trades
  • US$299 ⁠— Unlimited trades
Supports all major exchanges
Connect your exchanges, import trades and download your crypto tax report within minutes.
BearTax Cryptocurrency Tracking and Tax Reporting
  • US$10 ⁠— 20 trades
  • US$45 ⁠— 200 trades
  • US$85 ⁠— 1,000 trades
  • US$200 ⁠— unlimited
Supports all major exchanges
Beartax can track your trades, help you calculate what’s owed and generate tax reports. Discounts available on 2 year plans.
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Compare up to 4 providers

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.

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