7 Free Crypto Tax Calculator Apps & Websites 2023

As cryptocurrency becomes more widely adopted, it is becoming a necessity rather than just a hobby. In today's uncertain economic climate, it may even become a primary means of payment and exchange. However, it is important to note that using cryptocurrency also comes with certain tax implications. 

To help mitigate these tax burdens, there are a variety of free crypto tax calculator apps and websites available. In this article, we will explore some of the benefits that various crypto apps can offer, as well as provide more information on cryptocurrency in general.

1. Koinly

Introducing the most popular and secure online tax calculator for cryptocurrencies: Koinly. Developed for individuals who trade on various stock exchanges and struggle to withdraw income without incurring additional tax burdens. With availability in over 20 countries, users can safely use the software while traveling. Unlike other services, Koinly offers a free preview of reports.

The software organizes and analyzes all data and reports, providing only the most optimal results. Users can choose from different types of reports and select whether to place the report in Year End, TurboTax Online, etc.

Koinly also stores all data and allows users to view and compare reports from previous years. The software imports data from all crypto wallets, consolidates it in one report, and calculates the optimal tax rate - all for free.

 

https:// koinly.io/

 

2. CryptoTax Calculator

The Cryptocurrency calculator is a software that helps you calculate your taxes online. It is not entirely free, but it offers a 30-day trial period during which you can use it for free. To use the calculator, you need to create an account on the platform and import data from various sources, including your wallets and stock exchanges.

To import the data, you must create a report on the platform you are using and drag it onto the Crypto currency calculator window. The software will then automatically categorize your expenses and income, and generate a report showing the amount of tax you need to pay. You can also download this report as a document. The program is reasonably priced, even if you decide to purchase it later.

https: //cryptotaxcalculator.io/

 

3. CoinTracker-Cryptocurrency Portfolio & Taxes

CoinTracker is a comprehensive cryptocurrency tracking and tax calculator platform that seamlessly integrates with your existing exchanges and wallets. It allows users to easily monitor and manage their portfolio in one place, view ROI, transaction history, crypto balances, and more. With support for over 2,500 cryptocurrencies and all major exchanges and wallets, CoinTracker is a trusted and secure solution for managing your crypto investments.

The platform also offers a convenient way to handle crypto taxes, by automatically calculating cost basis and capital gains. Users can save time and effort by choosing one of the platform's tax plans or by downloading their transaction history for free.

CoinTracker also offers automatic syncing of balances, transactions, and ERC20 tokens, ensuring that your data is always up-to-date. The platform also has read-only access to your accounts, which guarantees the safety of your funds.

With CoinTracker, you can track the performance of your investments, including current portfolio and ROI over time, and visualize how your cryptocurrency moves between wallets and exchanges. The platform supports a wide range of popular cryptocurrencies, including Bitcoin, Ripple, Ethereum, Stellar, Litecoin, Cardano, DASH, NEO, Dogecoin, and more.

Additionally, it supports major exchanges such as Bibox, Binance, Bitfinex, BitMEX, Bittrex, BTC Markets, CEX.IO, Coinbase, Coinbase Pro, CoinSpot, Cryptopia, Gate.io, Gemini, HitBTC, Huobi, Kraken, Kucoin, Liqui, Poloniex, QuadrigaCX, and many more.

 

 

4. CoinTracking

CoinTracking is an online platform that helps track all your cryptocurrency trading activities, including income and losses. It provides reports on capital gains, collects data from various stock exchanges, and calculates taxes based on your income. The platform is highly recognized in the market, with over 1250 corporate clients. Additionally, users can share their data with crypto tax advisers.

CoinTracking is also versatile, taking into account the tax systems of over 100 countries. Although the program is not free, it does offer a one-month demo version for users to try before making a purchase decision.

https:// cointracking.info/

 

5. Cointelli

If you haven't found a suitable option for calculating your crypto taxes, Cointelli may be worth checking out. This crypto analyst service offers a free trial period and has the added benefit of being able to calculate taxes on NFT transactions, which many other apps on the market do not support. Cointelli calculates taxes on a variety of transactions including buy and sell transactions, DeFi, and margin trading.

However, it should be noted that the range of supported cryptocurrencies is smaller compared to other options. One unique feature of Cointelli is the "Auto-fix" option which allows users to review each trade, but it is important to remember to sync all wallets beforehand. Additionally, the software does not charge any additional fees for complex tax calculations.

 

https:// cointelli.com/

 

6. CoinLedger

CoinLedger is a popular platform for calculating crypto taxes, although it only offers a free trial period. However, it's worth noting that many similar services offer free trials for several months, making it easy to switch between platforms when each trial period ends.

Despite this, CoinLedger is a valuable tool for calculating your crypto taxes, offering unique features such as support for calculating taxes on mined and airdropped cryptocurrencies. Additionally, CoinLedger provides full audit support, making it a useful resource for those new to the crypto world as it recommends a lot of informative material to read on the subject.

 

https:// coinledger.io/

 

7. Crypto.com

This one is a reliable yet lesser-known platform for calculating your crypto taxes. It supports over 20 popular crypto exchanges and wallets and is completely free to use. Simply create an account and synchronize your data for analysis and reports. 

However, it should be noted that it does not work with a variety of cryptocurrencies such as NFTs and mined coins, making it a suitable option for those who stick to traditional crypto trading.

https:// tax.crypto.com/

 

 

Conclusion:

In conclusion, there are a variety of free crypto tax calculator apps and websites available for individuals to use in order to accurately report their cryptocurrency transactions for tax purposes. These tools range from simple calculators to more comprehensive platforms, and can be a valuable resource for anyone looking to stay compliant with tax laws related to cryptocurrency.

However, it is important to note that these tools are for informational purposes only and users should consult with a tax professional for advice on how to report their cryptocurrency transactions.