Bitcoin.Tax vs Defitax

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.

Defitax is a web tool for preparing cryptocurrency transaction data for tax reporting. It calculates cost basis and gains or losses, then produces tax documents. The service is aimed at DeFi traders using liquidity pools, bonding curves, prediction markets, perpetual futures and related activities. It lists support for Bitcoin, Solana, Ethereum, TRON, Base, BNB Chain, Polygon and Arbitrum, with imports from Binance, Coinbase, Kraken, Bybit, OKX, Hyperliquid, MEXC, Orderly, CoinSpot and generic CSV files. Tracking covers Hyperliquid perpetuals, prediction markets, launch platforms, liquidity-pool yields, Jupiter DCA and perpetual positions, bridges and NFTs. Cost-basis choices are FIFO, LIFO, HIFO and Specific ID, applied universally or per wallet. The free plan allows up to 500 transactions and provides a dashboard but no report export. Unlimited costs $199 a year and adds exports, tax forms, multi-jurisdiction support and the AI Tax Agent.