Partnered with over 500+ crypto exchange platforms, Taxbit manages your crypto tax and helps you calculate your losses and profits in real-time. Access their services on their website and enjoy tight security for your tax records today.
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$50.00 /per year
$175.00 /per year
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CoinLedger is a cryptocurrency tax software that enables users to import their trades from exchanges and calculate gains and losses. It also provides users with detailed reports of their cryptocurrency holdings, trades, and taxes. With CoinLedger, you can generate crypto tax reports in minutes.
TaxBit has many features, but also some lacks. TaxBit offers a free trial version which is pretty rare for such services. You can also find a monthly plan for those who want to use the service only once in a while. For professional investors and traders TaxBit has a pretty comprehensive set of features, including charts and technical analysis tools, transaction issues tracker, full data set analysis and wallet-based cost tracking. The service is also one of the few that support NFTs. On the downside, TaxBit is missing some common features like tax act integration, audit trail report, data import from Coinbase wallet and TurboTax integration. Additionally, the service only supports Bitcoin, Ethereum and Litecoin, so if you're looking to track your taxes for other cryptocurrencies you'll need to look elsewhere.
In their reviews, users have mentioned that TaxBit has some fantastic customer service features - including a responsive team, great staff, and quick turnaround times. However, some reviewers have also mentioned that the customer service is not always consistent, and that they have had bad experiences in the past.
Frequently Asked Questions
Yes, Taxbit has tighter security than most competitors, with a SOC 2, Type 2 certification. In addition, a system and organization control (SOC) examination is conducted by the Trust Services Criteria. This examination is performed by a certified public accountant (CPA), with the assistance of cybersecurity professionals, to test their security, availability, processing integrity, confidentiality, and privacy.
The company, however, states in its terms of service that they are not liable for any damages and any loss of data and profit. These may include credential information, passwords, tax calculations, and audits. As cryptocurrency is a magnet for many malicious characters, take care not to share your private information with others.
A crypto exchange is a digital platform where people buy, sell, and trade cryptocurrency. Taxbit supports 500+ of these crypto exchange platforms on the digital market. Some of the more popular ones on the list are Coinbase, Crypto.com, Gemini, BitMart, and Kraken.
With Taxbit, you can easily import your data via the crypto exchange’s API or upload a CSV file. These allow Taxbit to compile data for your viewing, letting you easily track and file crypto taxes.
Yes, you can. For people using popular US exchanges, Taxbit does your crypto tax accounting for free. Go to their website and start syncing your wallet and exchanges from their partner exchanges. They will calculate your tax calculations and aggregate tax positions line by line. They also offer free IRS forms 8989 and income reports for you to download.
Yes, Taxbit offers a real-time viewing of your crypto investments on their platform. Users can use Taxbit to track their taxes as it moves, which informs them of any gains or losses as soon as possible. Users can take action once they suffer any significant losses and quickly save themselves from any devastating damage.
Taxbit’s efficient tax automation and its large number of exchange partners make them a convenient tool for people looking to keep an eye on their profits.
Taxbit is popular among everyday crypto users, those who simply want to buy and sell things on the internet without any form of government control using cryptocurrency. In addition, Crypto users can use Taxbit to keep track of their taxes as they continue using it as a form of online currency.
Crypto exchange platforms allow users to trade cryptocurrency with each other or exchange them for real-life money. They send cryptocurrency to a user’s wallet but do not calculate tax returns. Taxbit has no access to your assets and just lets you view transactions and records. Hence these platforms partner with Taxbit to give crypto users these services to provide the public with a better crypto exchange experience.