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With the prices for 7666 coins and assets, you’ll always have a complete overview. Sign up to Cointracker and get 10% off your first tax plan CoinTrackingĬoinTracking analyzes your trades and generates real-time reports on profit and loss, the value of your coins, realized and unrealized gains, reports for taxes and much more. In fact, you will stand the best chance possible of avoiding a mistake that in the long-run, could end up costing you significantly more in tax authority fines. At the other end of the spectrum, CoinTracker is especially useful if you actively trade cryptocurrencies.Īlthough you will need to pay a fee for anything above 25 transactions, the application has the potential to save you countless hours of manual reconciliation. I like the fact that you will still have access to the vast bulk of features on the Free Plan – especially capital gains reporting and your choice of accounting standards. Read more: The Best Books about Bitcoin and Crypto That is very very important as it means that Cointracker will never have any permission to operate with your crypto. Cointracker uses read-only access to your exchange accounts to protect your funds. You can import your data automatically via API or upload a CSV of all your trades. In terms of exchanges, they practically support every exchange out there, including my favorites Binance and Binance. You can not only connect it to your exchanges to pull in all the data about trades you’ve made, but you can also mark transfers to your Ledger Nano or other cold wallets so that they are not deducted from your overall balance.

I’ve spoken to the founder of CoinTracker on my podcast Mastermind.fm, so check that episode out if you’re interested in learning more about the platform and crypto taxation in general. They are adding full support for other countries too, so check out the CoinTracker site for the latest list. Full support is offered in US, UK, Canada, Australia, and partial support for every other country. Cointracker is seamlessly integrated with TurboTax and your accountant’s software. At any point, you can review your tax summary, and download the reports you need to file your taxes. Given that it’s still so hard to find competent accountants who understand crypto (plus it would be very expensive), it’s well worth it to pay for a tool like this that prepares everything for you.

Of course, CoinTracker also calculates crypto taxes every year for you. See also: My detailed review of Cointracker If you’re a power user then there are several well-priced tiers that are completely affordable. This is the system I would have built if I had to build a tracker myself. Their support is fantastic, and best of all, everything is free for those with few transactions. They have automatic import from exchanges built-in, and the interface is very clean. CoinTracker – 10% Off for my readersĬoinTracker is the most complete portfolio tracker on the market. Here are my favorite portfolio tracking and tax preparation tools.

to be prepared when tax time comes along.

to keep track of your overall investment.

You need to know where you stand at all times: You could also be using one of the various crypto debit and credit cards, like, where for tax purposes you will need to keep track of every single purchase done with your card.Īs you can see, it is important to know your positions in an easy way, and there is no better way than to use an app or software solution. It is also important to track other crypto-related activities, for example when earning interest on your crypto through platforms like BlockFi and YouHodler. Not to mention if you’ve been dabbling around in DeFi and DEXes like Uniswap and Sushiswap. Even if you’re just buying and selling one or two different coins, you can quickly lose track of things, especially if you’re using several crypto exchanges or trading apps like Binance, Kraken, Binance etc. With thousands of crypto tradeable assets available, it is hard to keep track of your crypto portfolio these days.