Cryoto Trader Tax is the most popular website used by active cryptocurrency traders to help them do their cryptocurrency taxes. At the end of this article we are going to give you a special link and code that will give cmgcrypto readers that can benefit a 10% discount.
We are gonna be comparing crypto trader.tax against other cryptocurrency based tax platforms available in the market at today. Now, keep in mind ladies and gentelman, like I always try to remind you in the disclaimers, I’m not a financial advisor or a licensed CPA or anything like that. I’m just someone who’s enthusiastic about cryptocurrency and finance and wanted to share with readers everything that has helped me on my cryptocurrency journey.
People find out some more information about some of these services from more of like a software review standpoint, because that’s where I come from. We’re reviewing softwares like VPN, which I also have rated here on the channel as well. So at the end of this review, we’ll be putting it in the crypto tax tier list on the channel.
From doing my research and testing out a couple different crypto tax platforms. Crypto trader.tax is the most popular and best seller with cryptocurrency traders around the world. I expect more and more cryptocurrency tax planners to be introduced to the market as the crypto world continues to grow.
I believe one of the main reason Turbo Tax Planner has become so popular is becasue of it’s easy intergration with TurboTax. It is considered the official TurboTax partner in the crypto world. Since that time other platforms have added Turbo Tax intergration but most sell for twice the amount of the delux Turbo Tax Planner.
The sign up and set up process is simple you simply import your cryptocurrency portfolio from your wallet. You are provided with a clean, simple, and intuitive user interface. So you could pick from a wide variety of different are platforms here, and they do support all of the major exchanges.
In fact, you can even import your Ethereum addresses with a wallet such as UniSwap. This will actually work with the UniSwap and also your other Ethereum addresses as well.
If you find a platfrom, wallet, coin, etc is not intergrated you can manually import those by making a dot CSV file and importing the transactions, So in terms of integrations, I think crypto trader.tax has you covered.
So one of my favorite things about crypto trader.tax is that it just has a very simple, easy to use, interface. It’s very simple use, and it’s not really intimidating at all. I am not the most techy guy in the world and just have a fundametal understanding of taxes so you should be able to just jump in and start getting things done smoothly.
You can also connect through APIs. It really nice connecting to Coinbase. It works really well and you can also connect with all other major exchanges as well.
After you get your wallets, coins, and plaforms connected, it will show you all the transactions incoming, outgoing. Crypto Trader Tax also offers online customer chat support if you get hung up during the set up process or have questions at anytime.
In terms of what I found with this site compared to some other ones, some other ones only calculated like my short-term gains, not long-term gains. So I did like how this was able to make a report taking into account past transactions and long-term gains as well as going into the year. So short term gains as well. So it does a good job about collecting all that information as well as being able to download all different types of reports.
As for pricing, it provides the best value in the market. It’s only a hundred dollars if you do 1500 trades or less, and it does get more expensive the more trades you do. Crypto Trader Tax offers ulimitted trades for only $300. Competing cryptocurrency tax services charge $500 to $700 for unlimited versions of their software.
You can sign up for free, create account and click around and check it out. The free version is very limitted, but if you have any interest or need to organize your crypto tax records this is currently the best solution we have found.
Readers of cmgcrypto.com can get a 10% discount if you use the link and discount code below.
