Description
TokenTax is a crypto tax software and full-service accounting firm built to handle cryptocurrency tax reporting from start to finish — whether you want software-only calculations or a CPA to file your returns.
Key Features
- Automated Data Import: Sync transactions from 100+ integrations including exchanges (Coinbase, Binance, Kraken, Gemini), wallets (MetaMask, Trust Wallet, Phantom), blockchains (Ethereum, Solana, Bitcoin), and DeFi protocols (Uniswap, Curve, Aave)
- Tax Calculations: Supports FIFO, LIFO, Minimization, and average cost methods with real-time capital gains and income previews
- Tax-Loss Harvesting Dashboard: Identify opportunities to offset gains and reduce your overall tax liability
- Form Generation: Automatically creates Form 8949, Schedule D, FBAR, and international tax forms with one-click export to TurboTax, H&R Block, and TaxAct
- DeFi & NFT Support: Handles staking, liquidity pools, bridges, mints, royalties, margin trading, and complex on-chain activity
- Professional Reconciliation: Team of crypto-savvy tax experts can backfill missing cost basis, resolve data edge cases, and clean up messy transaction histories
- Full-Service Filing: In-house CPAs and EAs prepare and file your complete tax return, including estimated quarterly payments
- Enterprise Solutions: Dedicated support for funds, founders, and high-net-worth individuals with custom reports, bookkeeping, and LLC/corporation tax preparation
Use Cases
Suitable for individual crypto investors, DeFi power users, active traders, mining operators, and crypto businesses who need accurate, audit-defensible tax reporting. Prior-year amendments and IRS audit assistance are also available.
Highlights
Pros
- Automatically generates IRS Form 8949, Schedule D, FBAR, and international tax forms with one-click export to TurboTax
- Includes a proprietary tax-loss harvesting dashboard that identifies unrealized losses and suggests optimal sell amounts
- Handles complex DeFi activity including staking, liquidity pools, bridges, NFTs, margin trading, and yield farming
- Offers full-service CPA tax filing with in-house CPAs and EAs, unique among crypto tax software providers
- Supports 100+ exchange, wallet, and blockchain integrations via API and CSV for seamless transaction import
Cons
- Entry-level plan lacks DeFi & NFT support and tax-loss harvesting, requiring the pricier Premium tier for those features
- No mobile app is available for viewing tax reports or tracking liabilities on the go
- Offers fewer native API integrations (80+) compared to competitors like ZenLedger (400+) and CoinLedger (280+)
- The Basic and Premium plans cap at 100 and 5,000 transactions respectively, which is restrictive for active traders
- Does not offer a free plan or free trial, unlike several competitors in the crypto tax software market