CoinLedger

CoinLedger

4.9 out of 5 stars
TaxBit

TaxBit

5.0 out of 5 stars
CoinLedger TaxBit

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CoinLedger:

About

CoinLedger (formerly CryptoTrader.Tax) takes away the pain of preparing your bitcoin and crypto taxes. Simply connect your exchanges, import trades, and download your tax report in minutes. Import your trades using the API import tool or upload your trade history file. CoinLedger integrates with all major exchanges to make this process quick and painless. Add your sources of cryptocurrency income from the tax year. CoinLedger calculates your gains from mining, staking, gifts, airdrops, and forks. CoinLedger calculates your tax liability using the same methods tax professionals use. Rest assured that you are paying the correct amount and minimizing your crypto tax liability. Download your completed IRS forms to file yourself, send to your accountant, or import into software like TurboTax and TaxAct. Partnered with the largest tax preparation platform to make it easy for you to E-File your crypto gains and losses with your full tax return.
TaxBit:

About

TaxBit is the world’s leading technology partner for Tax and Accounting compliance. Our platform provides a single system of record, capable of efficiently powering both information and financial reporting, for high-volume and highly complex asset transactions. Developed in a fast-evolving, digital asset driven world, TaxBit was created by experts for experts and offers: - A single platform: Providing full control of customer data and processes. No more fragmentation across manual processes, multiple vendors, and multiple solutions. - Powerful API technology: The TaxBit Platform automatically ingests, validates, and normalizes data processes for internal teams, external partners, and customers. - Bringing together best-in-class technology and certified experts: Our subject matter experts consist of CPAs, attorneys, IRS and FASB alumni, and Big Four partners who become a seamless extension of your team.
CoinLedger:

Platforms Supported

Windows Not Supported
Mac Not Supported
Linux Not Supported
Cloud Supported
On-Premises Not Supported
iPhone Not Supported
iPad Not Supported
Android Not Supported
Chromebook Not Supported
TaxBit:

Platforms Supported

Windows Supported
Mac Supported
Linux Supported
Cloud Supported
On-Premises Not Supported
iPhone Not Supported
iPad Not Supported
Android Not Supported
Chromebook Not Supported
CoinLedger:

Audience

Cryptocurrency investors or accountants looking for a tax solution
TaxBit:

Audience

Enterprises, exchanges, financial institutions, and fund administrators looking to automate, integrate, and report on their digital asset activity
CoinLedger:

Support

Phone Support Not Supported
24/7 Live Support Not Supported
Online Supported
TaxBit:

Support

Phone Support Supported
24/7 Live Support Supported
Online Supported
CoinLedger:

API

Offers API Supported
TaxBit:

API

Offers API Supported
CoinLedger:

Screenshots and Videos

TaxBit:

Screenshots and Videos

CoinLedger:

Pricing

$49 per tax season
Free Version Not Supported
Free Trial Not Supported
TaxBit:

Pricing

Single or Multiple year SaaS licenses and volume contracts
Free Version Not Supported
Free Trial Not Supported
CoinLedger:

Reviews/Ratings

Overall 4.9 / 5
ease 4.8 / 5
features 4.5 / 5
design 4.6 / 5
support 5.0 / 5
TaxBit:

Reviews/Ratings

Overall 5.0 / 5
ease 4.0 / 5
features 4.0 / 5
design 5.0 / 5
support 5.0 / 5
CoinLedger:

Pros & Cons from Real Users

Pros

  • I really liked how easy and how fast it was to import my transactions to CoinLedger. I imported transactions via API and via CVS file upload and both were very smooth. I also really liked their customer support. This was my first attempt to tackle crypto taxes, so I had a ton of questions and concerns which were answered quickly making the whole process much less stressful and allowing me to meet my extension deadline. I also really liked that you could view your gains/losses with each of the different accounting methods allowed. Made decisions on how to proceed very easy.
  • When I had some questions I simply wrote CoinLedger. Upon doing so I received quick replies with detailed help/instructions.
  • Crypto-tax is not easy but this service is super-helpful. And would have been very easy if all my exchanges were ones listed with CoinLedger. I made a mistake in my data entry and the support offered to trouble-shoot for me was prompt and second to none. I happily recommend.
  • -FANTASTIC customer service -Most exchanges supported -Very reasonable price -Easy API imports -Easy upgrades/cancellations
  • This firm produce superb support services for their clients, even though they are not 24 hours they do correspond promptly within a convenient timeframe. I am an emotive businessman so prioritizing customer service is a must for myself and CoinLedger fulfills that satisfaction.

Cons

  • The couple things I didn’t like I was told will be fixed in the app update Nov.2021, so really it becomes a moot point. I will mention them anyway though in order to give a fair and accurate review. I had crypto gifts, and I found it a little hard to figure out what the cost basis would be for the person receiving the gift. Not only did customer service offer me a work around, they also informed me that will be taken care of the the app update coming next month. The other thing that I was told will also be upgraded is the availability to connect Meta Mask and Dex’s.
  • There are no cons with which I am familiar with CoinLedger.
  • There was a pop up just before I finalised, saying tax wasn't due for this year (it was), which was (and still is) confusing. However, the support team quickly addressed my query on the matter and advised simply to proceed, which went smoothly.
  • -No Kraken margin trade support yet. There are some things I'd like to be able to adjust manually that I can't, but that seems to be a limitation on other comparable services as well
  • A mobile application should be considered for maximum utilization.
TaxBit:

Pros & Cons from Real Users

Pros

  • Tax season is very busy but the support team at TaxBit is excellent. In addition to the articles and videos, I was able to easily upload and get my tax returns. Must try if you are skeptical.

Cons

  • The user interface on some pages seemed insufficient but over the last 6 months I have noticed that there has been constant development so I am hopeful with this product.
CoinLedger:

Training

Documentation Supported
Webinars Not Supported
Live Online Not Supported
In Person Not Supported
TaxBit:

Training

Documentation Supported
Webinars Supported
Live Online Supported
In Person Supported
CoinLedger:

Company Information

CoinLedger
Founded: 2017
United States
coinledger.io
TaxBit:

Company Information

TaxBit
Founded: 2018
United States
taxbit.com
CoinLedger:

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CoinLedger:

Categories

TaxBit:

Categories

Crypto Accounting Supported
Crypto Tax Supported
CoinLedger:

Crypto Tax Features

Automated Data Import Supported
Exchange Integration Supported
Export Transactions Supported
Historical Prices Supported
Income Overview Supported
Margin & Futures Support Not Supported
Profit & Loss / Cap Gains Supported
Staking / Lending / DeFi Support Supported
Tax Form Generation Supported
Tax Loss Harvesting Supported
Wallet Integration Supported
TaxBit:

Crypto Tax Features

Automated Data Import Supported
Exchange Integration Supported
Export Transactions Supported
Historical Prices Supported
Income Overview Supported
Margin & Futures Support Supported
Profit & Loss / Cap Gains Supported
Staking / Lending / DeFi Support Supported
Tax Form Generation Supported
Tax Loss Harvesting Supported
Wallet Integration Supported
CoinLedger:

Integrations

CEX.IO Supported
Coinbase Supported
Gemini Supported
Uphold Supported
Abra Supported
BTC Markets Supported
Bancor Supported
BitBay Supported
Bitcoin Not Supported
BitoPro Supported
Changelly Supported
CoinEx Supported
Coinmate Supported
EXMO Supported
GOPAX Supported
Gate.io Supported
Kryptos Not Supported
OMGFIN Supported
Paxful Supported
TaxBit:

Integrations

CEX.IO Supported
Coinbase Supported
Gemini Supported
Uphold Supported
Abra Not Supported
BTC Markets Not Supported
Bancor Not Supported
BitBay Not Supported
Bitcoin Supported
BitoPro Not Supported
Changelly Not Supported
CoinEx Not Supported
Coinmate Not Supported
EXMO Not Supported
GOPAX Not Supported
Gate.io Not Supported
Kryptos Supported
OMGFIN Not Supported
Paxful Not Supported
CoinLedger:
Claim CoinLedger and update features and information
Claim CoinLedger and update features and information
TaxBit:
Claim TaxBit and update features and information
Claim TaxBit and update features and information