Top 7 free crypto tax calculators to simplify your tax filing

1. CoinTracking 

• Website: CoinTracking

• Overview: CoinTracking offers a free plan that allows you to track up to 200 transactions per year. It supports more than 70 exchanges and provides detailed reports, including capital gains and income tax reports.

• Features:

• Free plan for tracking up to 200 transactions.

• Detailed tax reports.

• Portfolio tracker and performance analytics.

• Supports multiple tax calculation methods (FIFO, LIFO, etc.).

• Limitations: Free plan is limited to 200 transactions. More transactions require a paid plan.

2. Koinly 

• Website: Koinly

• Overview: Koinly is a popular tax software that offers a free plan for basic crypto tax calculations. You can import data from more than 300 exchanges and wallets to generate accurate reports.

• Features:

• Free for up to 10,000 transactions per year.

• Supports tax reporting for various jurisdictions (U.S., U.K., Canada, Australia, etc.).

• Imports data from exchanges and wallets.

• Capital gains and income tax calculations.

• Limitations: Free plan offers limited features (e.g., no support for advanced tax reports). You need to upgrade for more features like automatic imports and premium tax reports.

3. Recap

• Website: Recap

• Overview: Recap is a free crypto tax calculator that helps you track your portfolio and calculate taxes on your cryptocurrency holdings. It supports automatic imports from exchanges and wallets, simplifying the process of generating tax reports.

• Features:

• Free for up to 10,000 transactions.

• Connects with major exchanges and wallets for automatic data imports.

• Provides tax reports compliant with the latest tax laws.

• Tracks gains, losses, and taxable events.

• Limitations: Free version has transaction limits and lacks some advanced features available in the paid version.

4. TokenTax

• Website: TokenTax

• Overview: TokenTax offers a free calculator for simple cryptocurrency tax calculations. It automatically imports transaction data from exchanges and wallets, and allows you to generate capital gains reports for tax filing.

• Features:

• Free for up to 100 transactions.

• Automatically imports transactions from exchanges.

• Supports tax reports for multiple countries (including the U.S. and U.K.).

• Generates simple capital gains and loss reports.

• Limitations: Limited to 100 transactions in the free version. You’ll need a paid plan for more than 100 transactions or for more detailed reports.

5. Accointing

• Website: Accointing

• Overview: Accointing offers a free version that can track up to 25 crypto transactions. It calculates your capital gains and losse5your portfolio’s performance.

• Features:

• Free for up to 25 transactions.

• Automatic data import from exchanges and wallets.

• Portfolio tracking.

• Tax reports for multiple countries (U.S., U.K., Europe).

• Limitations: Free plan only covers up to 25 transactions. You need a paid plan for additional features and higher transaction limits.

6. TaxBit

• Website: TaxBit

• Overview: TaxBit offers a free tax calculator tool for cryptocurrency traders. The platform simplifies the process of calculating taxes on crypto transactions by pulling data from exchanges and generating IRS-compliant reports.

• Features:

• Free version supports up to 50 transactions.

• Automatically imports transactions from exchanges.

• Generates reports for capital gains, income, and more.

• Integrates with tax filing platforms like TurboTax.

• Limitations: Free plan is limited to 50 transactions. You’ll need to upgrade for more transactions and additional features.

7. ZenLedger

• Website: ZenLedger

• Overview: ZenLedger is a crypto tax calculator that helps you calculate capital gains and file your taxes in a compliant manner. The free plan allows you to track a limited number of transactions and generate simple tax reports.

• Features:

• Free plan available for up to 25 transactions.

• Integrates with major exchanges and wallets.

• Generates reports for crypto taxes (capital gains, income).

• Supports multiple tax filing options.

• Limitations: Free plan supports up to 25 transactions, and advanced features require a paid version.

Conclusion

Using a free crypto tax calculator can save you time and effort when filing your cryptocurrency taxes. While many of the options listed above have some limitations in their free versions, they can still be quite helpful for casual traders and investors with fewer transactions. If your portfolio is larger or more complex, consider upgrading to a paid plan for more advanced features. Remember to always double-check the accuracy of your tax reports before submitting them, as mistakes can lead to penalties.

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