Bitcoin.Tax vs CoinLedger

Bitcoin.Tax calculates cryptocurrency capital gains, losses, and income, then produces data and tax forms for filing. Its reports include gains, income, donations, Kraken margin trading, and closing balances with net profit or loss and cost basis. Users can import exchange trade histories, spending, income, mining income, and Kraken margin activity, or use CSV imports. Cost-basis methods include FIFO, LIFO, average costing, specific identification, and optional like-kind treatment. The service lists tax-year support for the United States, Canada, Australia, Germany, and the United Kingdom, or a year beginning January 1. It supports DeFi and NFT activity and lists 23 import sources. Tax outputs include IRS Form 8949 PDF, Schedule D, and formats for TurboTax, TaxACT, H&R Block, Drake, and CCH. Free access covers up to 20 trading transactions. Paid plans are billed once per tax year, beginning with Premium at $59.95, paid once for up to 1,000 transactions. The service says margin trading is not completely supported and may produce incorrect values; its terms also say it does not verify that data is accurate or suitable for tax filing.

CoinLedger is a web service for tracking cryptocurrency portfolios and preparing tax reports. Portfolio tracking is free, and the service supports historical data for more than 20,000 cryptocurrencies. Users can import records through read-only exchange APIs, CSV or custom CSV files, and public wallet addresses; CoinLedger lists more than 1,000 integrations for wallets, exchanges, blockchains, and DeFi platforms. Tax calculations include FIFO, LIFO, HIFO, and Adjusted Cost methods. Reports include IRS Form 8949, income, capital gains, and audit trails, and the service supports importing capital gains and losses into TurboTax, TaxACT, H&R Block Desktop, and TaxSlayer. DeFi and NFT activity are supported. Listed jurisdictions include the United States, Australia, Canada, New Zealand, Germany, Japan, Ireland, and Austria. The Hobbyist plan is $49 as a one-time purchase for up to 100 transactions; Investor is $99, paid once for up to 1,000 transactions, and Pro is $199, paid once for 3,000+ transactions. Done For You engagements start at $3,500. CoinLedger says signup needs only a valid email address and that it does not report users' tax information to the IRS.