Properly filing crypto taxes can be a daunting task. Thankfully, various platforms have emerged to ease the pain of tax season and make filing your crypto taxes as easy as filing regular taxes.
While almost all crypto tax software platforms automatically import your various transactions, they differ on how effectively they categorize the transactions, how well they can optimize your tax burden, and, of course, how much you have to pay to use them.
It is important to be aware of tax rules yourself, as these crypto tax tools may not be perfect. And on top of this, you may run into a list of questions before even getting started with a tax software.
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Best Crypto Tax Software 2025
SUMM is one of the most powerful crypto tax platforms we’ve tested. It connects seamlessly with TurboTax and supports over 3,500 exchanges, wallets, and crypto projects with full coverage for DeFi, NFTs, staking, and airdrops.
4.7| Price | Transactions Tracked | Integrationss | Free Trial? | Standout Features | |
|---|---|---|---|---|---|
| Summ | $49 tier for 100 transactions $99 tier for 1,000 transactions $249 tier for 10,000 transactions $499 tier for 100,000 transactions 30-day money-back guarantee on all plans | Swaps, NFTs, wallet transfers, staking, loans, DeFi, Airdrops. | Almost 3,000 crypto apps including exchanges, wallets, and DeFi protocols | Yes | Connects seamlessly with TurboTax |
| Awaken | $69 tier for 500 transactions $199 tier for 1,500 transactions $299 tier for 3,000 transactions $399 tier for 5,000 transactions $699 tier for unlimited transactions | Swaps, NFTs, wallet transfers, staking, loans, DeFi, Airdrops. | Awaken integrates with 100+ crypto platforms, including chains (like Ethereum, Solana, Base etc.) and centralized exchanges (like Coinbase, Binance, Robinhood etc.). | Awaken offers a free version that lets you generate basic crypto tax reports. | Web3- focused including DeFi (decentralized finance) and NFTs |
| Turbo Tax Investment Center | $99 tier to file your own taxes $159 tier to receive assisted help | Transactions from major centralized exchanges | Integrated with Coinbase and Robinhood and others to get the job done cheaply | N/A | Lets you import tax reports from other crypto-native tax platforms |
| CoinTracker | $0 for tax summary $59 tier for 100 transactions $199 tier for 1,000 transactions $599 tier for 10,000 transactions | Swaps, staking, margin trading, DeFi functionality | More than 500 exchanges, wallets, and blockchains + Turbotax | Free version only gives you a tax summary | Any paid tier gives you integrations with TurboTax and HR Block |
| CoinLedger | $0 tier only for transaction tracking $49 tier for 100 transactions $99 tier for 1,000 transactions $199 tier for up to 3,000 transactions (additional transactions available for purchase within app) | Swaps, mining, staking, NFTs, airdrops, DeFi liquidity providing | Hundreds of wallets, exchanges, and DeFi protocols + TurboTax, TaxACT, H&R Block, Tax Slayer, and others | Free version does not provide tax reports, but allows you to track your portfolio | Relatively low price and unique features such as an audit trail and an official partnership with TurboTax |
| Koinly | $0 tier only for transaction tracking $490 tier for 100 transactions $990 tier for 1,000 transactions $1990 tier for 3,000 transactions (additional tiered pricing available up to 10,000 transactions) | Swaps, mining, margin trading, staking, airdrops, DeFi lending | Over 750 exchanges and wallets + TurboTax and TaxAct | Free version does not provide tax reports, but allows you to track your portfolio | Provides an income overview to see all earnings from DeFi, staking and / or mining |
| Blockpit | £0 tier only for portfolio tracking £49 tier for 50 transactions £99 tier for 1,000 transactions £249 tier for 25,000 transactions £599 (special) tier for unlimited transactions (up to 500,000) | Swaps, derivatives, NFT, DeFi | 250,000 supported assets across exchanges, blockchains, wallets and dApps | Free version does not provide tax reports, but allows you to track your portfolio | Provides country-specific tax reports in line with the local regulations |
Comparing Crypto Tax Software
SUMM is one of the most powerful crypto tax platforms we’ve tested. It connects seamlessly with TurboTax and supports over 3,500 exchanges, wallets, and crypto projects with full coverage for DeFi, NFTs, staking, and airdrops.
4.7
Awaken Tax was one of the best performers during our tax exercise. The software automatically classified the vast majority of our transactions. In instances where manual classifications were required, they were easy to make with Awaken’s intuitive interface.
4.8
4.3
How To Choose A Crypto Tax Software
Here are some considerations you should keep in mind when searching for the best crypto tax software:
Integrations with your existing tax software
When selecting a crypto tax software, one of the crucial factors to consider is its integration capabilities. Automatic integrations not only simplify the process of compiling your transaction history, but they also ensure accuracy in reporting.
The ideal crypto tax tool should seamlessly connect with various cryptocurrency exchanges, wallets, and even DeFi protocols, allowing for automatic import of your transaction data. In addition to integrating your wallets, you want to ensure that crypto tax reports can be easily extracted and integrated into popular tax accounting tools like TurboTax, H&R Block, TaxAct, and others.
Pricing Model
The cost of crypto tax software can vary significantly, making pricing a critical factor. It's important to find a balance between affordability and software that is best for your personal situation.
Some crypto tax solutions provide basic functionalities and only integrate with a few exchanges and wallets at a lower cost, which might be suitable for individuals with only a few transactions. Most platforms, however, offer tiered pricing models based on how many transactions, types of transactions, or level of tax guidance needed, catering to both casual traders and those with more complex portfolios. For example, if you're earning daily crypto rewards the number of transactions you need to account for can balloon quite quickly.
When it comes to pricing, the ultimate deciding factor will usually be how many transactions you made, and how many wallets you utilized. If you're a heavy trader, you should get ready to dish out several hundred bucks for a full crypto tax report for any given tax year.
Types of Transactions Tracked
Finally, when picking a crypto tax software, it’s important to make sure it can keep track of all the various crypto transactions you might have made.
The ideal software should be able to handle not only basic buying and selling, but also more complex transactions such as futures and perpetuals trading, staking, mining, DeFi loans, and more (especially as many of these are taxed differently).
In simple terms, your tax software should understand and correctly categorize every kind of crypto transaction you make, whether it’s through a regular exchange or a DeFi platform, to make sure you’re in accordance with all tax requirements.
Methodology
To compile this list, we examined dozens of crypto tax software options and picked the five that most impressed us in terms of features, ease of use, and price. We then did a deep dive into each option, examining its pricing, the types of transactions it can track, and the integrations it offers. We also considered each option's free version, and wrapped up by selecting some standout features for each.
This list reflects a diverse set of options for crypto traders of all kinds, so whether you're an active DeFi user, a tax professional, or even a CPA, you can find something in one of these options.
Getting Started With Crypto Taxes
The following information is relevant to U.S. taxpayers. Tax code in other jurisdictions can vary so always check on your local tax laws if you are located outside of the United States.
Relevant Terminology
While you are going through your transactions or getting started with a tax software, here is some terminology you may come across:
- Cost basis:The sum of the price that you paid for an asset and the fees that you paid to acquire it. If you purchase the same token in multiple instances, your cost basis will be the average of these. This serves as your entry price for taxation purposes.
- Capital gains:The difference between your cost basis and the proceeds you receive for selling an asset. If you hold an asset for over a tax year, your capital gains report will be long-term and you will receive a more favorable tax rate.
- Miscellaneous income:Crypto income that you receive aside from selling assets for a gain. This can come in the form of staking income, token airdrops, or interest from DeFi activities.
- Deductions:The costs associated with transacting or interacting with crypto, which can be used to offset income or crypto gains.
- Tax-loss harvesting:When you purposely sell a token for a loss, in order to lower your taxable crypto income from other profitable investments.
What Crypto Transactions are Taxable Events
While crypto tax tools do a solid job of categorizing your transactions, knowing how crypto transactions are taxed can help you prepare for tax season. Here is how some of the main types of crypto transactions are taxed, acknowledging the rules are different across juridictions:
- Selling a token:When selling/swapping any token, you owe capital gains tax on the amount of proceeds you receive that are higher than your cost basis. If you sell for a loss, this amount will offset your other crypto gains for the tax year.
- Receiving interest in DeFi:Interest is taxed as ordinary income, just as wages or your salary is.
- Receiving a token airdrop:Airdrops are taxed as ordinary income based on the token price at the time you claim them. This amount becomes your cost basis, and then you may owe capital gains tax when you sell it.
- Claiming staking rewards:Staking rewards are taxed as ordinary income, just as wages or your salary is.
- Trading perpetual futures:These trades are taxed using the 60/40 rule: 60% is taxed as a long-term capital gain, and 40% is taxed as a short-term capital gain.
- Trading NFTs:NFTs are taxed in the same way as other tokens. If you own NFTs that have become worthless, you can use a service to capture a tax loss.
Most underreporting relates to crypto-to-crypto swaps, paying for goods and services with crypto, receiving staking rewards, and receiving tokens via airdrops, mining, or via payment/tips for services.
Which Crypto Transactions Are Not Taxable Events
In addition to the above, there are also types of transactions that do not create a taxable event for crypto users. For example, if you simply transfer crypto from an exchange to your wallet, no taxes are owed on this.
It is also important to note that you only owe taxes when you sell your crypto, or swap one digital asset into another. And if you ultimately sell your crypto for a loss, this will benefit your tax situation.
Lastly, gifting tokens or donating them to charity are not taxable events. You can actually use donations to offset your taxes up to a certain limit based on your jurisdiction.
When Would a Crypto Accountant Make Sense?
For most crypto users, uploading reports from a professional tax software is a sufficient way to file their taxes. However, in certain cases hiring an tax professional who specializes in digital assets could be beneficial.
If you work as a freelancer in the space or have a wide range of different income sources, an accountant may be for you. Additionally, if you operate a business within the crypto space or use/receive crypto for payments, it may be a safe bet to work with an accountant.
When it comes to choosing the right accountant, ensure that you pick one that has a solid understanding of the digital asset industry. It can also be a good idea to seek a referral from a trusted friend, or find an accountant who is in your area and reachable.
Free Crypto Tax Software
If you're on a budget or want to try tax software on for size with no commitment, you've got options. Many of the above software options have a free tier. Sure, the free stuff might have some limitations, like preview-only views and caps on transactions, but they can still help you prep your crypto taxes enough so you understand your crypto tax situation, compare software vendors, or decide if need to upgrade to a paid plan.
To Sum It Up
Picking the best crypto tax software is highly dependent on your individual situation.
For web3 and DeFi natives, options like Awaken provide extensive DeFi integrations in an easy-to-use manner. Everyday investors need not go past TurboTax Investor Center. Whereas power users and CPAs, on the other hand, can look to CoinTracker, Koinly, CoinLedger or Crypto Tax Calculator as platforms that support thousands of tokens and complex transactions, while boasting a wide range of integrations with traditional tax software.
Frequently Asked Questions
All of the software's that we cover in this article allow you to extract crypto reports for tax accounting (based on your subscription tier). These reports can be directly uploaded into TurboTax to be filed with your overall situation.
The following crypto tax apps can integrate with TurboTax:
- Turbo Tax Investor Center
- Awaken
- CoinTracker
- Crypto Tax Calculator
- CoinLedger
- Koinly
Awaken has built-in tax-loss harvesting features for cryptocurrencies, as do most other software providers. This feature allows you to maximise tax deductions in a given tax year.
Taxes in crypto follow similar rules to other financial activities that you engage in. If you earn crypto or receive it as income, it is taxed as ordinary income along with your overall situation. If you profit from selling digital assets, this is taxed just like stocks or real estate, based on how long you've held the asset. Keep in mind swapping one crypto for another opens you up to a taxable event.
Most crypto tax softwares have a free-to-use tier, but you will run into limitations quickly. These limitations may come in the number of transactions allowed, or the ability to export tax reports into tax preparation software tool or .CSV for your accountant. The more complicated your crypto tax situation is, the more you can expect to pay for a software service that fits your needs.
For many people, filing crypto taxes is a two-step process that uses crypto tax software in combination with common tax-filing software like TurboTax. Tools like Awaken and TurboTax Investor Center make it easy to connect to your exchange or wallet of choice, making filing easy. In more complicated situations, it could make sense to work with an accountant instead.
Not everything that you do in crypto will create a taxable event. In short, you only need to pay taxes when you are making money, whether that be from income or capital gains. For example, sending crypto from one of your wallets to another does not create a taxable event, but swapping one crypto token for another does, such as BTC for cbBTC. And in the case that you lose money on an asset, this will actually work to lower your taxable income.
Airdrops are a new and exciting trend in the sector, but they come to you as a taxable event. When you first claim an airdrop, you need to report the amount that you claimed as ordinary income. This is calculated based on the price of the token at the time of your claim. This claim amount then becomes your cost basis, which is used to determine the capital gains tax that you will owe or deduct when eventually selling or swapping the airdropped token.
Transaction fees are involved anytime you swap tokens or engage in DeFi activities. Importantly, these fees resemble the cost of doing business, and act as deduction against your capital gain or loss. In the case of buying assets, the fee that you pay is added to the cost basis of your purchase. In DeFi, the total fees you pay can be deducted by the income that you receive for these activities.