Top Picks for Hassle-Free Tax Filing: Unveiling the Best Crypto Tax Software of 2021.

It's tax season once again, and for crypto traders, this time of year usually comes with an added layer of complexity. With the IRS cracking down on crypto taxes and imposing strict reporting requirements, it's crucial to have a reliable crypto tax software that can help you navigate through the process with ease.

Thankfully, there are now several crypto tax software options available in the market, each with its unique features and benefits. In this article, we'll be unveiling the top picks for hassle-free tax filing and provide a comprehensive review of the best crypto tax software of 2021.

Whether you're a seasoned crypto trader or just starting, you won't want to miss out on this guide. We'll be discussing everything from the software's ease of use and accuracy to its value for money and customer support. So buckle up and get ready to uncover the best crypto tax software that can make your tax filing experience a breeze.

By the end of this article, you'll know exactly which software to choose based on your needs and preferences. You might even find yourself surprised at how easy and hassle-free it is to file your crypto taxes this year! So sit tight, relax, and let's dive right into the best crypto tax software of 2021.

Top Picks for Hassle-Free Tax Filing: Unveiling the Best Crypto Tax Software of 2021

Taxes are an inevitable part of life, and as new financial technologies, like cryptocurrencies, continue to proliferate, accurately filing your taxes becomes even more complex. Fortunately, crypto tax software offers a solution, making tax filing a breeze. But with so many software options available, it can be challenging to decide which one is the best fit for you. In this article, we’ll explore the top picks for hassle-free tax filing, unveiling the best crypto tax software of 2021.

The Importance of Crypto Tax Software

As cryptocurrencies gain popularity, the IRS has made it clear that they expect individuals to report their gains and losses from cryptocurrency trading activities. Unfortunately, attempting to calculate these gains and losses manually is not only arduous but often results in errors that could cause additional tax liabilities. This is where crypto tax software comes in handy. By automating the calculations, these solutions make tax filing less time-consuming and less prone to error.

The Top 3 Crypto Tax Software Options

There are dozens of crypto tax software solutions out there, but these three stand out among the rest.

CoinTracking: The Most Comprehensive Crypto Tax Software

With over 4,000 supported exchanges, CoinTracking offers the most comprehensive crypto tax software option. This software can import your transaction data from your wallets and exchanges, providing an overview of your portfolio and generating helpful tax reports and forms. While it offers ample features, this software is on the pricier side, costing $179/year.

Koinly: A Simple and Affordable Option

Koinly offers a straightforward solution that integrates with more than 300 exchanges. It’s intuitive to use, and its real-time transaction data import, coupled with capital gains reports and tax return generation make it an affordable choice at just $49/year.

TaxBit: The Advanced Professional Option

TaxBit offers an advanced solution for professionals, providing automated tax filing, CPA access, and audit defense service. While it only supports over 100 exchanges currently, it’s likely to add more in the future. For the additional features, this software is priced at $200/year.

Which Crypto Tax Software is the Best?

Ultimately the decision of which crypto tax software to use will depend on your needs and preferences. If you’re looking for the most comprehensive solution, then CoinTracking is a good choice. If simplicity and affordability are your top priorities, Koinly is a better option. Finally, for sophisticated professional needs, TaxBit is the best bet.

The Bottom Line: Crypto Tax Software Relieves the Burden of Tax Filing

No one looks forward to tax season, but by choosing one of these top-rated crypto tax software options, you can relieve some of the stress of tax filing. With their automated calculations and helpful reports, you can rest easy knowing that you’re accurately reporting your cryptocurrency gains and losses to the IRS.

Thank you for taking the time to read our article on the best crypto tax software of 2021. We hope that our top picks will help you simplify your tax filing process and keep your finances in check.

Managing cryptocurrency taxes can be a daunting task, but with the right tools, it doesn't have to be. The software we reviewed in this article offers hassle-free solutions that can help you automate your tax reporting and save time, money, and stress.

Make sure to explore the features and pricing of each solution and choose the one that matches your needs and budget. And don't forget to stay abreast of any changes in tax regulations related to cryptocurrency trading, as they may impact your reporting obligations.

Again, thank you for reading our post, and we wish you success on your tax filing journey!

As the tax season is approaching, many people are wondering about the best crypto tax software for hassle-free tax filing. Here are some of the most common questions people ask:

1. What is the best crypto tax software in 2021?

• The top picks for hassle-free tax filing are:
• CoinTracking
• Cryptotrader.tax
• TaxBit
• Koinly
• TokenTax

2. How do I choose the best crypto tax software?

• When choosing the best crypto tax software, consider the following factors:
• Accuracy
• Support for multiple exchanges and wallets
• User-friendly interface
• Affordability
• Customer support

3. How does crypto tax software work?

• Crypto tax software automates the process of calculating taxes on cryptocurrency transactions. It imports data from exchanges and wallets, calculates gains or losses, and generates tax reports.

4. Do I need to use crypto tax software?

• If you have made cryptocurrency transactions during the year, you are required to report them on your tax return. Using crypto tax software can save you time and ensure accuracy in your tax filings.

5. Can I use free crypto tax software?

• Yes, there are free crypto tax software options available. However, they may have limited features and support compared to paid versions.

By considering these questions, you can choose the best crypto tax software for your needs and have a hassle-free tax filing experience.