Automated cryptocurrency tax accounting services are used by both taxpayers and professional accountants, as they simplify what can be a very complicated process of calculating long-term and short-term gains and losses. Many services suggest optimized ways to sell specified lots of cryptocurrency, though there is some disagreement about how the IRS will rule upon optimizing this way. Most services automatically look up the USD (or other fiat) values of your crypto tokens when they are bought, received in payment, sold, spent, gifted, traded, etc. Some services are a more bare bones and require a learning curve, while others include consultation with tax professionals. The services vary in how hands-on you can be with what’s going on “under the hood.” And the prices vary considerably. Note that many of these have not been vetted, and one must be careful about possible scams. We hope to update this page with more details on each service soon, here are the automated accounting services we’re aware of (in alphabetical order):
Bear.tax (gone?)
BitTaxer.com (gone?)
CoinTaxes.com (dead?)
CryptoTrader.tax (now redirects to CoinLedger.io)
LukkaTax.com (dead?)
Are we missing any? Contact us!