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Author: Admin | 2025-04-28
Performance and value per holding. Premiere users can get access to more in-depth information that gives them a wider picture of their crypto transactions to consider the tax implications.There are three types of tax reports downloadable.IRS Schedule 1: This report consists of crypto income generated by means other than wages, interest, and dividendsIRS Schedule D: This contains the calculated tax on capital gains.IRS 8949: It is used to calculate tax on sales and other depositions – allowing users to report the date at which they got different crypto assets.Zen Ledger has added support for three cost-basis methods: LIFO, HIFO, and FIFO. It accesses taxable crypto income from multiple sources such as dividends, airdrops, staking, mining, and others. Zen Ledger also sports a robust tax loss harvesting tool that allows investors to overview unrealized gains and losses. Based on the accumulated data, Zen Ledger then suggests the number of coins the investor needs to sell to maximize the loss.Another unique feature that Zen Ledger provides is unified accounting. Here, it displays a spreadsheet containing the transaction history across multiple exchanges. It delivers a complete breakdown of the transaction value, transaction dates, the long-term and short-term capital gains the investor has made, and the cryptocurrencies involved in those capital gains.On the other hand, like CoinLedger, it lacks proper support for DeFi integrations. That said, it does support 30+ DeFi protocols, including1inchSushiswapParaswapPancakeswapZen Ledger’s Integration with traditional tax filing software such as TurboTax helps with filing taxes. One of the standout features is that Zen Ledger provides aid from tax professionals. That said, it is expensive for services ranging from consultation to multi-year reports. The tax professional plans extend support to NFT and DeFi investments.Overall, Zen Ledger supports more exchanges than CoinTracker and CoinLedger. However, it only integrates one traditional tax software – TurboTax, unlike the former two that support two traditional tax apps. On the other hand, the professional tax help plans – even though pricey – are one of Zen Ledger’s standout features. Due to all those factors, the Zen Ledger is a good software for time-savvy investors who want access to in-depth data and tools to save taxes.ZenLedger Pros:Supports the top trading exchanges and walletsTax loss harvesting tools are availableTax reporting on crypto interest with lending and savings accountsA paid tax filing support is availableZenLedger Cons:DeFi support is limited to the expensive plansFree plan is basic and doesn't offer many features8. Taxbit – Best Tax Software For Crypto Exchange APIsTaxbit is a full-stack crypto tax software suitable for both individual and institutional investors. General crypto tax applications tend to be complex. Thus, Taxbit has taken a different approach. It has come out with many versatile features that make it easy to use. That factor has allowed it to amass over 5 million users and over 97.3% customer satisfaction rating. Like its competitors, Taxbit supports most cryptocurrency exchanges among the most crypto tax platforms on the list, including Coinbase, Crypto.com, FTX, Kraken, Binance and Gemini. Like its peers, Taxbit has also integrated
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