Top Crypto Tax Tools to Simplify Your 2025 Filing
Reporting your crypto earnings is very important for income tax — check out the tools that can help you. See more.
Check Out the Best Tools to Report Your Crypto Earnings
With the growing adoption of cryptocurrencies in the United States, the 2025 tax season is bringing new challenges for digital investors.
To help taxpayers navigate this complex landscape, several platforms specializing in crypto tax reporting are offering effective solutions.
Why Is It Necessary to Report?
The IRS (Internal Revenue Service) treats cryptocurrencies as property in the U.S.
Just like real estate or stocks, any capital gain earned from crypto appreciation must be reported and is subject to taxation.
Even if you haven’t converted your crypto to dollars, selling or swapping it can trigger a taxable event.
What Needs to Be Reported?
- Capital gains or losses from selling or exchanging cryptocurrencies
- Crypto received as payment, such as for services or wages
- Staking and mining rewards, considered taxable income
- Spending crypto on goods or services, like buying coffee with Bitcoin
- Airdrops and rewards, which also count as income
What if I don’t report?
Failing to report crypto transactions can result in fines, interest charges, and even legal issues.
The IRS has ramped up enforcement, and since 2024, crypto exchanges in the U.S. are required to submit transaction reports directly to the agency, using the new Form 1099-DA.
This updated rule aims to boost transparency and make tax compliance easier for both investors and regulators.
Top Crypto Tax Tools for 2025
See now some of the best tools you can use to declare your taxes in the U.S. next time:
CoinLedger
CoinLedger is one of the most popular crypto tax platforms in the U.S.
It allows users to import transactions from various wallets and exchanges, generating IRS-compliant tax reports, including Forms 8949 and Schedule D.
It integrates smoothly with TurboTax, TaxAct, and H&R Block, and also supports DeFi and NFT transactions, making it ideal for investors using multiple protocols.
Koinly
Koinly is known for its user-friendly interface and support in over 20 countries. It automatically imports data from wallets and exchanges and calculates capital gains and losses.
Features like free report previews and TurboTax export compatibility make it a strong choice for investors who want simplicity and efficiency.
TurboTax Crypto
TurboTax’s crypto-focused version offers a seamless experience for users already familiar with its standard tax software.
It allows for automatic import of crypto transactions and supports NFT-related earnings. In addition, users can access crypto tax experts for personalized guidance throughout the filing process.
ZenLedger
ZenLedger stands out for handling complex transactions, including DeFi, staking, and NFTs.
With support for over 400 exchanges and 7,000 types of tokens, it generates detailed reports and audit trails.
Its integration with TurboTax and compatibility with IRS forms make ZenLedger a go-to tool for advanced crypto investors.
CoinTracker
CoinTracker is praised for its accuracy and ease of use.
It imports transactions from a variety of platforms, calculates capital gains and losses automatically, and generates IRS-ready reports.
Its integration with TurboTax and H&R Block streamlines the filing process even further.
TokenTax
TokenTax offers a comprehensive solution for crypto tax reporting.
Beyond importing transactions and calculating gains and losses, it also provides personalized tax filing services, ideal for investors with complex portfolios or specific tax needs.
Bitcoin.Tax
For those with a limited number of transactions, Bitcoin.Tax is a budget-friendly option.
It allows free tax reports for up to 20 transactions, making it a practical choice for beginners or occasional crypto users.
Final Thoughts
With the new IRS regulations now in effect, it’s essential for cryptocurrency investors to use the right tools to ensure tax compliance.
Platforms like CoinLedger, Koinly, and ZenLedger offer comprehensive solutions for different types of investors.
By choosing the tool that best fits your needs, you can simplify the filing process and avoid potential issues with tax authorities.
This way, you can feel more at ease about your earnings and steer clear of any problems with the IRS after filing your returns.
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