Best For

  • Casual and Intermediate Crypto Asset Investors
  • Professional Crypto Asset Investors
  • Tax Professionals
  • DeFi Users

CryptoTrader.Tax is a financial software that enables you to calculate the tax you owe in relation to your net crypto asset gains. The company was founded in Kansas City, Missouri by tax specialists and began offering their software and services in 2017.

CryptoTrader.Tax Cryptocurrency Tax Software - Comprehensive 2020 Review

Overall Score:

9
Trusted
Compatibility:
9 of 10
Value:
9.5 of 10
Ease of use:
9 of 10
Transaction Types:
10 of 10
Special Features:
9 of 10
Customer Service:
9 of 10

CryptoTrader.Tax Cryptocurrency Tax Software Overview

Platform TypeAll Traders
Exchanges SupportedAll
Countries SupportedAll Countries
Currencies SupportedAll
Pricing Plans$49-$299 Annually
Payment MethodsDebit or Credit Card
Transaction Count100 - 5,000
Tax Return AmendmentsUp to 10 years
Portfolio TrackingYes
Personalized AccountingYes
Customer ServicePhone, Chat, Email
PromotionsAll reports for 2018 and before are 15% off the normal report price.

How Does CryptoTrader.Tax Work?

Only five simple steps are necessary in order to generate your crypto tax report on CryptoTrader.Tax. This quick, streamlined process can be completed in under 10 minutes.

Step 1: Fill out your basic tax information.

Step 2: Import your trade history from all relevant exchanges and years.

Step 3: Add any additional transactions that happened outside of trading (mining, gifts, etc.).

Step 4: Review your trades.

Step 5: Create your tax report.

Available CryptoTrader.Tax Plans

When using CryptoTrader.Tax to file your crypto taxes you can choose from a number of membership plans, including the Hobbyist ($49 annually), Day Trader ($99 annually), High Volume Trader ($199 annually), or Unlimited ($299 annually) packages. You also have the option to use the CryptoTrader.Tax services for free; as the free version does not allow you to download a full tax report, you must manually fill out any relevant tax forms.

Hobbyist Day Trader High Volume Unlimited
Price
$49
$99
$199
$299
Transactions
Up to 100
Up to 1,500
Up to 5,000
Unlimited
Priority Customer Support
No
No
Yes
Yes
TurboTax/Taxact Compatible
Yes
Yes
Yes
Yes
Tax Loss Harvesting
Yes
Yes
Yes
Yes
Unlimited Report Revisions
Yes
Yes
Yes
Yes

The main difference between the membership plans lies in the number of crypto asset trades that you can account for when calculating how much crypto tax you owe. The Hobbyist plan will help you calculate your crypto taxes owed for up to 100 trades; the Day Trader membership will allow up to 1,500 trades; the High Volume Trader plan will support up to 5,000 trades and give you priority customer support; finally, the Unlimited plan will calculate an unlimited number of transactions and provide you with priority customer support.

No matter which crypto tax plan you choose, you will be able to utilize the service's various features, such as live chat support, an unlimited number of report revisions, and tax loss harvesting tools. All of these plans will produce a completed IRS Form 8949 and a capital gains report, both of which are compatible with the TurboTax and TaxAct softwares.

Exchanges & Wallets Supported

CryptoTrader.Tax supports all of the major crypto exchanges. If the exchange that you used is not one of the 36 major exchanges listed on CryptoTrader.Tax’s homepage, you will need to fill out the Other Exchange Template using Google Sheets.

Once you have filled out this form, you can download it onto your computer as a CSV file and upload it into the "Other Exchange" tab on CryptoTrader.Tax’s website. Any Binance or Coinbase transaction data can be uploaded using either CSV files or API keys.

Security

CryptoTrader.Tax uses advanced SSL encryption on their website, which guarantees that your private information will remain secure and unexposed. Your monetary transactions will also be secure thanks to the site's PCI Level 1 compliance, which is the strictest level possible.

CryptoTrader.Tax & Cryptocurrency Mining

To include any crypto mining profits into your Form 8949 tax report, simply upload your mining transaction history in the “Other Transactions” section of the report generation process (Step 3 out of 5). You can either add a single transaction manually or import a CSV file that accounts for numerous transactions at once.

CryptoTrader.Tax And Airdrops

Similar to crypto mining transactions, any airdrops you received can be accounted for in the “Other Transactions” portion of the report generation process (Step 3 out of 5). To manually add the airdrops to your tax report, simply click on the “Add Transaction” button. If you have numerous airdrops to report, you can also import a CSV file.

Customer Service

The fastest way to contact the customer service department at CryptoTrader.Tax is to use their live chat feature. To chat with a crypto tax expert, simply click the black circle with a white chat bubble inside of it, which is located in the lower right-hand corner of the website's homepage.

If live chat is not your preferred method of communication, you can instead email the customer service department at This email address is being protected from spambots. You need JavaScript enabled to view it.. The response time of this contact method is notably slower than the live chat feature.

Tax Loss Harvesting

Tax loss harvesting is a feature that is available through all CryptoTrader.Tax membership plans and can help you save money when filing your crypto taxes. After generating your tax report, click on the "Tax Loss Harvesting" tab to view the best opportunities to reduce the amount of money you will owe in crypto tax. You can then import any tax loss harvesting transactions into CryptoTrader.Tax and re-calculate your tax forms accordingly.

CryptoTrader Cryptocurrency Tax Software Alternatives

Rating9/109/108/10
Pricing$49-$299 Annually$65 - $1,999 Annually$0 - $49.99 Monthly
Margin TradingYesYesYes
DeFi SupportYesYesYes
Personalized AccountingYesYesYes
Tax Return AmendmentsUp to 10 yearsUp to 10 yearsNo
Tax Loss HarvestingYesYesNo
Learn MoreReviewReviewReview

FAQ

How much does CryptoTrader.Tax cost?

What is the main difference between the various CryptoTrader.Tax memberships?

Can I use CryptoTrader.Tax to correct previous tax filings?

Does CryptoTrader.Tax offer support for DeFi transactions?

Is CryptoTrader.Tax compatible with TurboTax?

Terms To Know

DeFi

Stands for “Decentralized Finance.”

Tax Loss Harvesting

A strategy used to minimize the taxes owed on capital gains.

Form 8949

Tax form for crypto asset income.

Airdrop

Zero-cost basis crypto sent to users of an exchange or protocol, usually as a promotion or a reward.

Form 1040X

Tax form used when amending previous tax returns to include crypto transactions.

Pros and Cons

Pros

  • Compatibility - CryptoTrader.Tax supports all crypto exchanges and wallets. If you use an exchange that is not on their list you can utilize the Other Exchange template to upload your transaction data.
  • International Support - Each report generated on CryptoTrader.Tax can be used in tax forms for any country that supports FIFO, LIFO or specific identification. Every fiat currency is supported by their software.
  • Ease of Use - The process of generating your tax forms on CryptoTrader.Tax consists of five simple steps that can be completed in under 10 minutes. The program will walk you through all five steps using a clean, user-friendly layout.
  • Tax Loss Harvesting - CryptoTrader.Tax offers advice on what crypto assets you should sell or trade before the end of the year so you can realize your losses and lower the crypto tax you owe. This advice can be accessed by clicking on the "Tax Loss Harvesting" tab that appears after you have generated your crypto tax report.
  • Audit Trail - Any generated tax report will include a detailed audit trail, containing the numbers that were used when calculating your capital gains. This audit trail will be useful if you happen to get audited by the IRS.
  • Crypto Mining Support - CryptoTrader.Tax is fully capable of completing a tax report that includes any crypto mining transactions. In order to do so, you simply need access to your crypto mining history, which can then be uploaded into the CryptoTrader.Tax software.
  • Customer Support - It is easy to establish communication with a member of CryptoTrader.Tax using either live chat or email. Their staff is small yet knowledgeable and can assist you with any crypto tax questions you may have.

Cons

  • Membership Price Increasing - Originally, CryptoTrader.Tax charged just $39 for the Unlimited membership plan. Several years later they increased the price of this membership to $149; recently, the cost was raised again to $299

Conclusion

CryptoTrader.Tax is one of the simplest crypto tax software options on the market that is compatible with both TurboTax and TaxAct. Although the service is missing some key features that their competitors offer, most crypto asset traders will find everything they need in this software.

The membership plans offered by CryptoTrader.Tax are much cheaper than those offered by some other crypto tax software options, which makes this software ideal for casual or intermediate crypto asset investors.

Blockfer recommends CryptoTrader.Tax for crypto asset traders of all experience levels, crypto miners, and tax professionals who need to calculate capital gains in order to produce accurate crypto tax forms.

Company Facts

Legal NameCoin Ledger, Inc
Incorporated CountryUnited States
HeadquartersKansas City, MO
Year Founded2017
CEODavid Kemmerer
Total Employees 1-10
Regulators
Links Website, Twitter, Blog, LinkedIn, Crunchbase
Make Better Decisions With Your Crypto.
How We Earn Revenue
Make Better Decisions With Your Crypto.
How We Earn Revenue