ZenLedger Review 2024: Pricing, Plans, & Tax Features

Tax and crypto are two words that, for many people, are the antithesis of one another. Most cryptocurrency investors are in it for the long haul, holding onto their digital assets for years (if not decades) to maximize returns. But as crypto goes mainstream and more people begin investing, the question of taxes inevitably arises.

For those who are new to the world of cryptocurrency, the thought of dealing with taxes can be daunting. Where do you even start? What kinds of records do you need to keep? And how do you ensure you’re complying with the law? In this article, we’ll take a look at one solution that can help with all of these questions: ZenLedger.

ZenLedger Overview

What Is ZenLedger?

ZenLedger is cryptocurrency accounting and tax software that allows users to track their digital currency portfolios in real-time. It also allows users to generate capital gains and income tax reports.

The software is designed to be user-friendly and intuitive, making it ideal for those unfamiliar with accounting or tax laws. ZenLedger also offers several features that make it unique compared to other similar products on the market.

Some of these features include the ability to connect to multiple exchanges and wallets, support for popular accounting software like TurboTax, and the ability to generate IRS-compliant tax reports.

ZenLedger is an ideal solution for those who want to keep track of their cryptocurrency investments and ensure that they are paying the correct amount of taxes on their gains. It is also a valuable tool for accountants and tax professionals who work with clients who invest in digital currencies.

How Does ZenLedger Work?

Think of ZenLedger as traditional tax software for cryptocurrency: It does all of the number-crunching and spits out what you need to file your taxes.

So how does this service work, and what can it do for you? The service integrates with popular digital wallets and exchanges, making it easy to track your activity and import your data. ZenLedger then uses this data to generate IRS-compatible tax forms. This means that you can use the software to file your taxes just like you would with any other software, but with the added benefit of being able to track and report your cryptocurrency activity.

ZenLedger is one of the few services that currently supports multiple currencies and types of transactions. This includes income from mining, staking, airdrops, gifts, and even spending. The team is constantly working to add support for more wallets and exchanges, making it one of the most comprehensive solutions on the market.

ZenLedger Features

Here are some of the other key features that make ZenLedger the best choice for cryptocurrency accounting and tax reporting.

Tax Loss Harvesting

ZenLedger’s tax loss harvesting feature automatically identifies which of your cryptocurrency or NFT holdings have lost value since you purchased them, so you can sell them and claim the losses on your taxes. This can help reduce your overall tax liability, and it’s a valuable tool for any crypto investor who wants to minimize their taxes.

Downloadable Tax Reports

ZenLedger provides a variety of downloadable tax reports, including:

• IRS Form 8949: Used to report capital gains and losses from the sale of cryptocurrency
• IRS Form 1040 Schedule D: Used to report your overall capital gains and losses for the year
• IRS Form 8275: Used to disclose certain positions taken on your taxes
• FBAR Report: Used to report your foreign financial assets if they meet certain thresholds

These reports are all downloadable in PDF format, so you can easily save and print them for your records.

Crypto Portfolio Tracker

ZenLedger’s portfolio tracker lets you see your real-time cryptocurrency holdings, values, and gains or losses. It is a valuable tool for keeping track of your investments and monitoring your performance.

TurboTax integrations

ZenLedger integrates with TurboTax, so you can easily import your tax data into TurboTax and file your taxes confidently. This is a great feature for anyone who wants to use ZenLedger for their cryptocurrency accounting and tax reporting needs.

Audit Report

ZenLedger’s audit report is a comprehensive report detailing all your cryptocurrency transactions for the year. It is a valuable tool for tax professionals and investors who want to ensure that their taxes are accurate and up-to-date.

CPA Access

ZenLedger’s CPA access feature allows you to grant your CPA or tax professional access to your account. This is a great feature for anyone who wants to outsource their cryptocurrency accounting and tax reporting needs.

HIFO/FIFO/LIFO Methods

ZenLedger supports three different methods for valuing your cryptocurrency holdings: HIFO (highest in, first out), FIFO (first in, first out), and LIFO (last in, first out). This is an important feature for investors who want to choose the method that best suits their needs.

Unlimited Exchanges And Unlimited Transactions

ZenLedger supports an unlimited number of exchanges and transactions if you opted to get the Platinum Plan. So if you have a lot of cryptocurrency holdings, you can rest assured that ZenLedger can handle all your accounting and tax reporting needs.

Crypto As Income

Crypto as Income means that you can use your cryptocurrency holdings to pay for goods and services. This is a great feature for businesses that want to accept cryptocurrency as payment.

Mining Or Donations

ZenLedger also supports mining and donations. In case you receive cryptocurrency as income from mining or donations, you can track it and report it on your taxes.

ICOs & AirDrops

Receiving cryptocurrency from an ICO or airdrop? ZenLedger can track it and help you report it on your taxes.

Airdrops are when a cryptocurrency project gives away free tokens to its community. It’s a great way to get free crypto, and ZenLedger can help you track and report it on your taxes.

FinCEN/FBAR Alert

The FinCEN/FBAR alert is a valuable tool for crypto investors with foreign financial assets. This alert will notify you if your assets meet the FBAR reporting requirements.

The Grand Unified Spreadsheet

Yes, it’s called the Grand Unified Spreadsheet, and it’s a key feature of ZenLedger. This spreadsheet allows you to track your cryptocurrency transactions, gains, losses, and tax liability in one place.

On-Demand Customer Service

Last but not least, ZenLedger offers on-demand customer service. So if you have any questions about using the software or your taxes, you can get help from a tax professional.

Is ZenLedger Free?

A free version of ZenLedger is available, but it is limited to 25 transactions. Just register for an account to get started.

ZenLedger Pricing And Plans

There are five pricing plans available from ZenLedger. Each plan has different features, but they all allow you to track your cryptocurrency investments.

Starter: $49.00/Year

Great for those just getting started with Bitcoin or Ethereum. It has up to 100 transactions, and you can add an unlimited number of wallets.

Premium: $149/Year

Up to 5,000 transactions; this is the most popular plan as it also offers Defi support/ staking and NFTs.

Executive: $399/Year

Same as Premium, but up to 15,000 transactions. This is great for bigger investors or those who trade frequently.

Platinum: $999/Year

This is the top-tier plan, and it’s great for businesses or heavy traders. You get unlimited transactions as well as support for multiple users. This also is the only plan that has two hours of premium support from a dedicated customer service agent.

Tax Professional Prepared Plans

With ZenLedger, you can have your taxes completed by a CPA or enrolled agent tax specialist.

What is included in this offering? When you sign up for the Tax Professional Prepared Plans, you will get:

• A complete and accurate return filed electronically
• All the forms and schedules necessary for your return
• As many revisions as needed to make sure your return is perfect

You can choose between the three Tax Professional Plans. These packages depend if you want an annual or a two-year plan.

ZenLedger Fees

When it comes to charges and costs, it’s always important to be aware of what you’re signing up for. With ZenLedger, if you choose a plan (except the free one), you will only be charged an annual subscription, and no other fees are charged by ZenLedger.

What Countries Are Supported?

ZenLedger supports most countries, including the United States, Canada, Australia, and the European Union.

What Exchanges Are Supported?

• 1inch
• Aave
• Binance
• BitMEX
• Celcius
• Coinbase
• Compound
• Crypto.com

• eToro
• Gemini
• Kraken
• Deribit
• Nexo
• SushiSwap
• Uniswap

+ Many more.

What Wallets Are Supported?

• Coinbase
• Ledger
• MetaMask
• Trezor
• Trust Wallet

And more.

What Blockchains Are Supported?

• Algorand
• Binance
• Bitcoin
• Cardano
• Dogecoin
• Ethereum
• Litecoin
• Polkadot
• Polygon
• TRON

And more.

How To Sign Up For ZenLedger

Step 1: Enter your email address on the sign-up page. You can choose to connect either your Coinbase or Google account for an easier process.

Step 2: Add your account (external crypto exchanges).

Step 3: Choose from the list of partner exchanges, and you’re all set.

How To Upload Transaction Data With A CSV File

If you have an exchange or wallet that is not listed on ZenLedger, you can still upload your transaction data using a CSV file. This is a great way to keep track of your crypto activity and make sure that everything is accounted for come tax time. Here’s a quick guide on how to do it.

Step 1: Click “Add Account”.

Step 2: Choose CSV Custom Upload.

Step 3: Download the Custom CSV Template.

Step 4: Fill the CSV out, and save it to your computer.

Step 5: Go back to ZenLedger and upload your CSV. Click “Complete Import” and you’re done!

How To Add Your CPA To Your ZenLedger Account

Adding your CPA to your ZenLedger account is a great way to keep track of your taxes and ensure that you’re getting the most out of your deductions. Here’s a step-by-step guide on how to do it:

Step 1: Go to your dashboard and click “Tax Pro.”

Step 2: Choose “Invite your Tax Pro.”

Step 3: A window will pop up; fill out the details (Name, Email, etc.).

ZenLedger Security Features

When it comes to cryptocurrency and blockchain technology, security is always paramount. ZenLedger claims they have some of the most comprehensive security features in the industry, which include:

Encrypted Storage

ZenLedger stores all user data in an encrypted format. This means that even if someone were to hack into ZenLedger’s systems, they would not be able to read the data as it is unreadable without the proper key.

HTTPS And TLS 1.2

All communication between the user and ZenLedger is encrypted using HTTPS and TLS 1.2. This makes it very difficult for anyone to eavesdrop on the conversation or steal any data.

VPC Server

ZenLedger uses a Virtual Private Cloud server which is a highly secure way to store data. This means that your data cannot be accessed anywhere directly. It is safely stored on the VPC server.

Compulsory MFA Logins

Multi-factor authentication is required in order to log in to your account. This adds an extra layer of security as it requires you to input two different pieces of information in order to access your account.

Amazon Guard Duty

ZenLedger uses Amazon Guard Duty to monitor their AWS environment for threats. This helps to keep their systems safe and secure.

Read-Only Permission

Finally, ZenLedger has a read-only permission setting. This means that even if someone were to hack into your account, they would not be able to make any changes or do anything destructive. They would only be able to view your data.

ZenLedger Compared To Other Crypto Tax Software

Tax software products are abundant in the market, with a variety of features. Some focus on specific areas like the US or international tax laws, while others take a broader approach.

ZenLedger is one of the newer entrants into the field and has quickly become a popular choice among cryptocurrency investors and traders due to its complete set of features and ease of use.

ZenLedger Vs. CoinTracker

What sets ZenLedger apart from CoinTracker is that it can be accessed through Windows, MacOS, and Linux. This is a great feature for users who want to manage their taxes on the go. The software also offers more exchange integration than CoinTracker, which makes it easier for users to track their trades.

ZenLedger Vs. TaxBit

TaxBit is another newer software product that offers a great set of features for users. It’s an SaaS platform, which means it can be used by multiple users at the same time. This is great for businesses or investors who have a team managing their taxes.

TaxBit also offers automatic calculation of cost basis, which is a huge time saver. However, one downside of TaxBit is that it doesn’t support as many exchanges as ZenLedger. It also doesn’t offer a free trial or a free account, which ZenLedger does.

ZenLedger Vs. Koinly

Both Koinly and ZenLedger support a wide range of exchanges and wallets, but there are some notable differences between the two. Koinly is geared more toward those who are new to cryptocurrency and tax reporting. It offers a simple interface and does not require users to input any tax-related information.

ZenLedger, on the other hand, is designed for users who are already familiar with cryptocurrency taxation. It offers a more comprehensive set of features, including the ability to input transactions manually.

This is useful for users who want more control over their reports or for those who have made trades on decentralized exchanges that are not yet supported by Koinly.

ZenLedger Vs. TokenTax

Although both integrate with most exchanges and wallets to generate crypto tax reports, ZenLedger offers more in term of customization. For example, you can specify which assets are taxable, create custom portfolios, and even set up tax-loss harvesting.

TokenTax, on the other hand, is more streamlined and offers a wizard interface that walks you through each step of the tax report creation process. Lastly, TokenTax does not offer a free-trial or a free account like ZenLedger, which could be a deal-breaker for some.

Final Thoughts On ZenLedger

What makes ZenLedger a great tool is its ability to help users keep track of their cryptocurrency assets and transactions. Not only does it provide a great user interface, but the team behind ZenLedger is constantly updating and improving the service. It also offers free and premium versions, so users can choose the level of service that fits their needs.

However, there are still downsides to using ZenLedger. The one drawback to ZenLedger’s function as an excellent crypto tax tool for novices is that localized tax papers are only supported for users in the United States, thus users outside of the U.S. may have some additional challenges.

Frequently Asked Questions