CoinLedger is a tax-reporting software that helps cryptocurrency users make tax calculations easily. The platform is user-friendly and economical, however it does have its limitations. One issue is that it could become messy when trying to categorize transaction data. It is also ironic that a crypto tax platform doesn’t accept payments made via cryptocurrency from customers.
CoinLedger started in 2018 under its name CryptoTrader.Tax. The three co-founders had experiences with automated trading systems and came up with CoinLedger after finding it difficult to find software that could assist them in automating their tax reporting on crypto assets. CoinLedger now integrates with various exchanges that allow users to import transactions’ history directly. Customers can upload transactions in CSV files CSV file or input them manually. Afterward, they can generate comprehensive tax reports using the data uploaded, and export it to their preferred tax software.
One of the unique features in CoinLedger is that the software offers tax professionals with tools to review and edit tax reports on clients’ behalf. In addition, CoinLedger now has integrations with TaxACT, TaxSlayer, and H&R Block, in addition to TurboTax. The site also has a directory of tax accountants certified by the crypto industry which users can employ.
CoinLedger is simple to use and it can import transactions from a variety of crypto exchanges and wallets. It will automatically create the tax forms required for tax purposes, which can be then delivered directly via TurboTax, TaxACT, TaxSlayer, as well as H&R Block.
Users can sign up for CoinLedger for free , and then import their transaction history, view the loss and capital gain and keep track of their cryptocurrency portfolio. Previewing tax forms is also possible using a free account however a paid subscription is required to download any tax forms. CoinLedger offers four pricing tiers: Hobbyist, Day Trader, High Volume and Unlimited. Each plan comes with a distinct transaction limit and is suitable for different kinds of users.
CoinLedger is an easy to utilize and efficient tax software that assists cryptocurrency users calculate their taxes with ease. But, it is not without its limitations, such as classifying transaction data can become messy , and it isn’t able to accept cryptocurrency payments from customers. The platform also provides special tools for tax professionals, and is integrated with many tax filing software, including the recent addition of Polygon. It also has a directory of tax accountants certified by the crypto tax authorities which users can employ. With a free trial and a variety of pricing levels it’s a good choice for everyone who is a crypto user.