Calculating your crypto taxes is one of the more stressful parts of being a cryptocurrency trader. The time it takes to report on your crypto taxes depend on the number of coins you have, the number of trades you’ve done, and the number of exchanges you use. Not only that, but every exchange has a different output for tracking your trades, with some providing no output at all. Each of your trades need to be individually added up and recorded, creating a very time-consuming process.
With all of this confusion, there is one thing we know for sure — it’s more important than ever to report your gains/losses to the IRS (or your country’s tax authority). One of the best ways to do this is through cryptocurrency tax software. Think TurboTax, but specifically for calculating your tax exposure from your cryptocurrency trading activity. These are the top 5 cryptocurrency tax software companies in the industry.