Choosing crypto tax software isn’t just about saving time. It’s about staying compliant and avoiding mistakes. If you only made a few trades, a spreadsheet might work. But once things get more complex, manual tracking can fall apart fast.
If you’re using multiple wallets, exchanges, or platforms like DeFi and NFTs, tax season gets tricky. Same if you’re earning staking rewards or doing margin trades. You’ll have to report all of that. A good crypto tax tool helps you track capital gains, income, and losses. It can also generate tax forms like Form 8949 and Schedule D so that you can file cleanly.
These tools are built to reduce risk and make sure you don’t miss anything important.
Most crypto tax tools let you automatically import transactions from wallets, exchanges, and DeFi platforms. You won’t need to copy and paste data or hunt down old trades.
A good crypto tax tool helps you:
Report your crypto transactions clearly to tax authorities
Lower your audit risk
Use tax loss harvesting if you had losses
Download clean tax forms for filing
Stay organized across wallets, exchanges, and platforms
If you’ve traded a lot, earned staking rewards, NFTs, or DeFi income, tax filing can get messy. These tools help simplify that. They save time, reduce mistakes, and help you stay compliant.
Choosing crypto tax software shouldn’t feel overwhelming. Focus on what matters most. Here’s what to check for before you decide.
You need software that connects to all your devices and tools. That includes:
Major crypto exchanges like Coinbase, Binance, and Kraken
DeFi platforms and NFT marketplaces
Wallets—both hardware and software
Margin accounts and staking platforms
It should support API keys and CSV uploads. If you can’t pull in your full transaction history, your reports won’t be right. The more connections the software offers, the less manual work you’ll need to do.
If you use multiple wallets or platforms, compatibility matters most. You want to see all your activity in one place.
Crypto taxes rely on cost basis methods like:
FIFO (First In, First Out)
LIFO (Last In, First Out)
Specific identification
Your tax software should support all of them. That way, you (or your accountant) can choose the method that fits your tax strategy.
It should also track:
Short-term capital gains (held less than a year — taxed like income)
Long-term capital gains (held more than a year) are taxed at a lower rate.
Crypto income from staking, airdrops, lending, or bonuses
If your software doesn’t track these correctly, your tax return could be off. That’s a risk you don’t want.
You’ll need more than just a summary. Look for software that creates:
Form 8949 for reporting trades
Schedule D for capital gains
CSV or PDF reports that you can share with your accountant
Files that work with TurboTax, TaxAct, or other tax prep tools
The right tool will give you clean, accurate reports. That’s the only way to file on time and avoid trouble with tax authorities.
A good tax tool also works like a portfolio tracker. It should let you:
See your current balances
Check real-time values of your tokens
View how your assets have performed
Spot taxable events like significant gains or realized losses
If your crypto is spread across wallets and chains, this matters. Real-time views help you make smarter choices and avoid surprises.
If you’re an active trader, look for extra features. These help you stay organized and may even lower your tax bill.
Tax loss harvesting: Sell losing assets to offset gains
DeFi and NFT support: Not all platforms handle these well
Staking income tracking: Some tools miss this
Margin trading: Needed if you use leverage
These tools are not for beginners. But if you trade daily or have hundreds of transactions, you’ll need them.
Crypto taxes are already complicated. Your software shouldn’t make it worse.
Make sure it has a clean, simple interface
Look for tools with tutorials, FAQs, or help docs
Check if they offer email or live chat support
Try the free version first—make sure it fits your needs
Some tax tools are built for accountants. Others are made for everyday users. Pick one that feels easy to use.
Here are some of the most used crypto tax platforms. Each one works a little differently. Pick one based on what you need.
Works with over 900 wallets, exchanges, and DeFi platforms
Free for up to 10,000 transactions
Paid plans include Form 8949 and Schedule D
Tracks capital gains, crypto income, staking, NFTs, and more
Exports to TurboTax, TaxAct, or as a CSV
Good if you want lots of integrations and don’t want to miss anything.
Connects to 500+ exchanges and wallets
Offers real-time portfolio tracking
Exports directly to TurboTax and H&R Block
Free plan covers basics; paid plans give more features
Simple to use. This is helpful if you want tracking and tax tools in one place.
Integrates with 250+ wallets and exchanges
Makes it easy to import your full transaction history
Let's you fix cost basis and handle missing data
Free to use, but complete tax reports start at $49
A solid pick if you need flexibility and help with messy data.
Supports 400+ platforms
Built with experienced traders in mind
Handles DeFi, staking, and all types of crypto income
Offers professional support if you need help
Good for users with complex portfolios who want expert guidance.
TokenTax supports NFTs, DeFi, and offers filing services
Bitcoin.Tax is budget-friendly and works well for smaller portfolios
CryptoTaxCalculator offers strong tools for advanced users and traders
Each of these tools has its strengths. If you’re an active trader or use DeFi often, these may be worth checking out.
These platforms all handle basics like importing trades and creating tax reports. But they don’t all offer the same features. Think about what kind of crypto activity you have—and how much help you need—before choosing one.
Not every crypto user is the same. The correct tax software depends on how often you trade and what kind of activity you’re reporting.
A free or basic plan is usually enough
Look for software that generates Form 8949 and Schedule D
You probably don’t need advanced features
Simple imports and basic gain/loss tracking will work
If you’re just testing the waters, don’t overpay.
You’ll need a paid plan with support for multiple exchanges
Make sure it tracks capital gains, staking rewards, and cost basis
Look for tools that show taxable events as they happen
Real-time portfolio tracking can help you manage trades better
If you trade often, you need more than just a summary.
Check that the software handles staking, yield farming, and NFT sales
Make sure it can read smart contract data correctly
Look for built-in tools for tax loss harvesting
DeFi support varies, so read reviews before committing
Not all tools handle DeFi and NFTs well. You want one that gets the details right.
Use an advanced or enterprise plan
Look for data reconciliation, audit trails, and professional support
Make sure it can process thousands of transactions without crashing
You may want tax software that connects to your accountant or CPA
If crypto is your business, don’t rely on a free tool. Always match the tool to how you use crypto. A good fit saves time, prevents errors, and makes tax season easier.
List your platforms and wallets
Check each tool's compatibility
Test the free trial
Compare prices for your trade volume
Confirm it can generate reports and exports
Read user reviews for support quality
Choose a tool that fits your needs—without overpaying
Here’s a basic workflow:
Connect all platforms via API or upload CSVs
Import all transactions
Check for errors or missing cost basis
Use tax loss harvesting to offset gains before year-end
Generate Form 8949, Schedule D, and tax reports
Export files for your tax return software or accountant
Store records for future audits
This process saves time and makes filing easier.
Import data regularly—not just at year-end
Tag every trade or income source
Fix transactions like margin trades or DeFi interactions
Double-check exports before filing
Adjust to changes in tax laws
Keep at least 7 years of crypto tax records
Even if you use crypto tax software, a tax professional can still help—especially if your situation is complex.
They can:
Check your crypto income and trades for accuracy
Use your reports to file taxes correctly
Spot errors that could trigger an audit
Advise to help you plan ahead
If you’re dealing with DeFi, NFTs, or hundreds of transactions, it’s smart to get help.
Count On Sheep specializes in crypto taxes. We work with reports from tools like CoinTracker, Koinly, and CoinLedger. We’ll review your data, correct any errors, and file everything for you.
Let us handle the hard part. You can book a free call with Count On Sheep and file with confidence.
Choosing crypto tax software is about more than convenience. It’s about compliance, accuracy, and clarity. With the right tool, you can track all your crypto—from capital gains to staking income and NFT sales—make real-time portfolio tracking, and generate clean, legal tax forms.
Q: Do I really need crypto tax software?
A: If you’ve only made a few trades, maybe not. But if you used multiple wallets, DeFi, staking, or NFTs—it’s worth it. These tools help avoid mistakes and save time.
Q: Is crypto tax software accurate?
A: Good ones are. They use IRS-approved methods like FIFO or LIFO to calculate gains. They also follow current tax rules.
Q: Can I use this software if I trade on multiple exchanges?
A: Yes. Most tools let you import from many platforms. Use API keys or upload CSV files. Just make sure the software supports the platforms you use.
Q: Does it handle DeFi and NFTs?
A: Some tools do. Not all. If you use DeFi apps or trade NFTs, pick a tool that supports those transactions. Check for staking reward tracking, too.
Q: Is there a free version I can try?
A: Yes. Many offer free plans or trials. But these may limit the number of transactions you can track or the tax forms you can export.
Q: Can I generate forms like 8949 and Schedule D?
A: Yes. Most crypto tax software lets you download these forms. They’re usually available with paid plans.
Q: How does the software help with tax loss harvesting?
A: It finds trades where you lost money. You can sell those assets before the year ends to lower your tax bill. Some tools even flag these for you automatically.
Q: Can I file taxes directly through the software?
A: Not always. Most export reports to TurboTax, TaxAct, or your accountant. A few offer full filing, but check first.
Q: What if I make a mistake?
A: You can usually edit the transaction manually. If you’re not sure, talk to a tax pro. Some tools also have email or chat support.
Q: Is my data safe?
A: Most tools use encryption. But always check their privacy policy. Don’t share API keys with write access. And don’t reuse passwords.