Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific
provider, service or offering. It is not a recommendation to trade.
What is CryptoTrader.Tax?
CryptoTrader.Tax is a program that automatically generates tax documents for your cryptocurrency holdings.
When you finish using it, you will have the following:
Completed IRS Form 8949 (for US users only)
Audit trail report
Cryptocurrency income report
End of year positions report
TurboTax online direct import
To help minimize your tax paid on crypto earnings, CryptoTrader.Tax lets you choose either LIFO or FIFO for calculating liabilities
LIFO (last in first out) and FIFO (first in first out) are two different ways of calculating the difference between the price at which an asset was acquired and the price at which it was disposed of.
Because cryptocurrency taxes are typically paid based on the difference between the prices, calculating them in different ways can make a big difference to the amount of tax you pay on them.
How to use CryptoTrader.Tax
Using CryptoTrader.Tax is a three-step process.
You can automatically import trades from 28 popular exchanges or manually import trades from others.
Add any extra crypto income, such as earnings from airdrops, mining or gifts. You can skip this step if not applicable.
Based on the information provided in steps 1 and 2, CryptoTrader.Tax will do the paperwork for you.
How much does it cost to use CryptoTrader.Tax?
There are four different tiers available. The main difference between them is the number of trades supported.
The fees below are accurate as of 4 October 2019.
Tier
Cost
What you get
Hobbyist
US$49 per tax season
Up to 100 trades Live chat support
Pro Trader
US$99 per tax season
Up to 2,500 trades Live chat support
High Volume Trader
US$199 per tax season
Up to 10,000 trades Priority support
Unlimited
US$299 per tax season
Unlimited trades Priority support
Key features of CryptoTrader.Tax
Which reports does it offer?
CryptoTrader.Tax offers a thorough set of tax reports on completion, included a completed IRS form 8949 (for US users), an audit trail report and an end of year positions report.
How do I import information to CryptoTrader.Tax?
You can directly import trading information from 28 different exchanges. For unsupported exchanges, you can download reports from the exchange and then upload these to CryptoTrader.Tax.
You can manually add airdrops, ICOs, mining revenue and similar if needed.
What exchanges does CryptoTax support?
CryptoTax lets you directly import data from the following exchanges and wallets:
Cost-effective. CryptoTrader.Tax offers good value compared to some equivalent products, especially in the $49 for up to 100 trades tier.
Comprehensive tax reports. CryptoTrader.Tax saves even more time by giving you a thorough selection of completed documentation.
One-off payments. You probably only need CryptoTrader.Tax at tax time, so the fee comes as a one-off payment during tax season.
Wide exchange support. CryptoTrader.Tax supports a wide range of popular exchanges.
Cons
US-focused. While the documents provided are useful time-savers for users worldwide, some of CryptoTrader.Tax’s documents provided, such as the IRS Form 8949, are specific to the United States.
Compare CryptoTrader.Tax against other crypto portfolio tracker apps
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Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly
volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of
future performance. Consider your own circumstances, and obtain your own advice, before relying on this information.
You should also verify the nature of any product or service (including its legal status and relevant regulatory
requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may
have holdings in the cryptocurrencies discussed.
Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.
Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use & Privacy Policy and Privacy and Cookies Policy.
Andrew Munro was the global cryptocurrency editor at Finder, covering all aspects of cryptocurrency and the blockchain. Andrew has a Bachelor of Arts from the University of New South Wales.
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