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CryptoTrader.Tax (Becoming CoinLedger) | Cryptocurrency and NFT Tax Software Review

Lucky Trader StaffLucky Trader Staff
CryptoTrader.Tax (Becoming CoinLedger) | Cryptocurrency and NFT Tax Software Review

Cryptocurrency and NFT taxes are complicated and confusing. Fortunately, there are plenty of great third party software providers, like CryptoTrader.Tax (becoming CoinLedger), to help make it easier to track down and document all of your transactions across multiple wallets and exchanges.

Below, we’ll review CryptoTrader.Tax (becoming CoinLedger), its product suite, and how it can help you when preparing and generating reports for gains or losses on cryptocurrencies or NFTs.

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What Are the Pros and Cons of CryptoTrader.Tax's Tax Product? 

Pros

Cons

Clean, user-friendly platform

Limited tools for NFTs

Low cost

Supports all major cryptocurrency exchanges

Includes DeFi, staking, mining, and more (advanced pricing tiers only)

Supports TurboTax integration

 

Includes live chat support

 

Includes helpful tips on site

 

Referral program

 

All features are supported at all price levels

 

What Is CryptoTrader.Tax (Becoming CoinLedger)? 

CryptoTrade.Tax (becoming CoinLedger) is a cryptocurrency tax software that handles your tax reports and refunds to save you time and money.

CoinLedger launched CryptoTrade.Tax in 2017 during the height of the ICO and IPO bull market. The goal has always been to make taxes easier for everyone.

CoinLedger Inc. is headquartered in Kansas City, Mo. and the team works remotely from Austin, St. Louis, Portland, Los Angeles, Mexico City, Zagreb, and more.

CryptoTrader.Tax (becoming CoinLedger) has been featured in coindesk, Forbes, Bloomberg, VentureBeat, and more.

The CryptoTrader.Tax (Becoming CoinLedger) Product Suite 

CryptoTrader.Tax (becoming CoinLedger) integrates seamlessly with all major cryptocurrency exchanges and platforms, making it quick and simple to import all your historical data for the tax year. 

From major centralized exchanges like Coinbase and FTX to major wallets like Metamask and Ledger and even major DeFi protocols like Uniswap and Curve Finance, CryptoTrader.Tax (becoming CoinLedger) supports them all. It also integrates with TurboTax and is a trusted TurboTax partner, which makes e-filing your tax return faster and easier. Just directly import your reports into TurboTax Online, TurboTax Desktop, TaxAct, and more.

CryptoTrader.Tax (becoming CoinLedger) supports international tax reporting and can calculate returns for most countries and in most currencies.

Tax reports can be generated in four steps: importing your taxes, adding historical crypto income, generating your tax report, and filing your tax returns. CryptoTrader.Tax’s API integrations mean even beginners can file their tax returns in minutes.

CryptoTrader.Tax (becoming CoinLedger) also has a tax loss harvesting tool to help you save as much as possible come tax time.

Crypto Tax Calculator has four different product suite offerings at varying price tags: hobbyist, day trader, high volume, and unlimited. Find out which price level suits you best below.

What Level of CryptoTrader.Tax (Becoming CoinLedger) Should I Choose? 

CryptoTrader.Tax (becoming CoinLedger) provides four pricing options based on total transaction volume. Each level comes with a 14-day money back guarantee.

Hobbyist

The hobbyist price level is for investors or collectors who buy and hold cryptocurrencies and NFTs. It allows for up to 100 total transactions per year.

Here are the benefits of the hobbyist service:

  • Core Features
    • Up to 100 transactions
    • Free report previews
    • Free data imports
    • Over 10,000 cryptocurrencies
    • Sync unlimited exchanges
    • Unlimited report revisions
    • DeFi support
    • Error reconciliation
    • Current profit and loss estimations
    • FIFO, LIFO, and HIFO
    • Live chat support
  • Tx Software Integrations
    • TurboTax Online
    • TurboTax Desktop
    • TaxACT
  • Included Tax Reports
    • IRS Form 8949
    • Income report
    • Capital gains report
    • End of year positions
    • Audit trail report
    • Tax loss harvesting

Day Trader

The day trader pricing level is for investors or collectors that frequently trade or swap cryptocurrencies and NFTs. It allows for up to 1,500 total transactions per year.

Here are the benefits of the day trader service:

  • Core Features
    • Up to 1,500 transactions
    • Free report previews
    • Free data imports
    • Over 10,000 cryptocurrencies
    • Sync unlimited exchanges
    • Unlimited report revisions
    • DeFi support
    • Error reconciliation
    • Current profit and loss estimations
    • FIFO, LIFO, and HIFO
    • Live chat support
  • Tx Software Integrations
    • TurboTax Online
    • TurboTax Desktop
    • TaxACT
  • Included Tax Reports
    • IRS Form 8949
    • Income report
    • Capital gains report
    • End of year positions
    • Audit trail report
    • Tax loss harvesting

High Volume

The high volume pricing level is for investors or collectors who are both frequently trading or swapping cryptocurrencies and NFTs and multi-accounting. It allows for up to 5,000 total transactions per year.

Here are the benefits of the high volume service:

  • Core Features
    • Up to 5,000 transactions
    • Free report previews
    • Free data imports
    • Over 10,000 cryptocurrencies
    • Sync unlimited exchanges
    • Unlimited report revisions
    • DeFi support
    • Error reconciliation
    • Current profit and loss estimations
    • FIFO, LIFO, and HIFO
    • Live chat support
  • Tx Software Integrations
    • TurboTax Online
    • TurboTax Desktop
    • TaxACT
  • Included Tax Reports
    • IRS Form 8949
    • Income report
    • Capital gains report
    • End of year positions
    • Audit trail report
    • Tax loss harvesting

Unlimited

The unlimited pricing level is for institutions that are frequently trading or swapping cryptocurrencies and NFTs for multiple clients. It allows for an unlimited number of transactions per year.

Here are the benefits of the trader service:

  • Core Features
    • Unlimited transactions
    • Free report previews
    • Free data imports
    • Over 10,000 cryptocurrencies
    • Sync unlimited exchanges
    • Unlimited report revisions
    • DeFi support
    • Error reconciliation
    • Current profit and loss estimations
    • FIFO, LIFO, and HIFO
    • Live chat support
  • Tx Software Integrations
    • TurboTax Online
    • TurboTax Desktop
    • TaxACT
  • Included Tax Reports
    • IRS Form 8949
    • Income report
    • Capital gains report
    • End of year positions
    • Audit trail report
    • Tax loss harvesting

How Much Does CryptoTrader.Tax (Becoming CoinLedger) Cost? 

CryptoTrader.Tax’s (becoming CoinLedger) tax service plans vary in cost based on the needs of the user. Please refer to the section above to help determine which level is best for you.

  • Hobbyist, $49/tax year
  • Day Trader, $99/tax year
  • High Volume, $199/tax year
  • Unlimited, $299/tax year

Is CryptoTrader.Tax (Becoming CoinLedger) Accurate?

It is impossible to verify that the CryptoTrader.Tax (becoming CoinLedger) tax service is 100 percent accurate. Information is taken directly from exchanges, platforms, or CSV files that the user uploads. CryptoTrader.Tax (becoming CoinLedger) should be accurate as long as the inputs in which it is given are accurate.

How to Use CryptoTrader.Tax (Becoming CoinLedger)

CryptoTrader.Tax (becoming CoinLedger) offers a simple, 4-step process for preparing your cryptocurrency and NFT taxes that can be completed in minutes.

Import your crypto trades, add your crypto income, generate your tax report, and file your crypto taxes. It’s that easy. Below is a step-by-step guide to help you get started.

 First, click “Sign Up” in the top right corner of the homepage and select “Individual User.”

You’ll have to fill in your email address and a password before clicking “Create Account.”

After you’ve successfully created an account, CryptoTrader.Tax (becoming CoinLedger) will send you to a 5-step account setup process. Click “Continue.” Select your country and country’s currency, and click “Continue” again. Select the platforms you’ve used for crypto and NFT trades this tax year, and click “Next” in the top right corner of the screen. Then, verify your email via the link CryptoTrader.Tax (becoming CoinLedger) sent you (or skip for now). Finally, click “Let’s Go!”

Helpful tips will appear on your screen, guiding you through the CryptoTrader.Tax (becoming CoinLedger) process. First, add all of the crypto and NFT accounts you’ve used this tax season and select either “Auto-Import” or “Upload File” for each one.

Next, if you have classified transactions, add them in the “Classify” section of the website. These are deposits or withdrawals that would not show up on an exchange. Then, move to “Review.”

Ensure that the information that CryptoTrader.Tax (becoming CoinLedger) generates is accurate and move to “Tax Reports.”

Finally, download the generated tax report, or add your tax professional by clicking “Add Tax Professional” in the upper right hand corner of the website.

That’s it! Your crypto and NFT taxes are ready to be reported.

Lucky Trader’s CryptoTrader.Tax (Becoming CoinLedger) Review Conclusion 

CryptoTrader.Tax is a quick and simple way to report your crypto and NFT taxes. Its lower price point makes it attractive for both beginners and experts. And with a 14-day money back guarantee, it makes sense to give it a try.

CryptoTrader.Tax’s (becoming CoinLedger) live customer support makes sure you’re never left with unanswered questions and can get your taxes filed on time.undefined

Do you still have questions about cryptocurrency and NFT tax obligations? Our friends at RKO Tax documented seven key things users should know before the end of the 2021 tax year.

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