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.
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