TaxBit is a compliance platform that was built by Certified Public Accountants (CPAs) and tax attorneys for the tokenized economy. It is a complete solution for companies, governments, exchanges, institutional investors, and individuals to ensure compliance with tax laws and regulations related to their digital asset holdings. TaxBit offers an end-to-end solution to automate tax reporting and compliance for enterprises, governments, exchanges, institutional investors, and individuals in the digital asset space. The company represents some of the largest players in the digital asset space, and TaxBit has received over $235 million in funding to enable the wider adoption of digital assets.
Formed by brothers Austin and Justin Woodward in the Salt Lake City area as a cryptocurrency tax and accounting solution.
Received a $100 million Series A investment and partnered with the IRS; expanded into its second headquarters in Seattle.
Introduced a first-of-its-kind global reporting platform that connects digital finance to traditional finance.
Appointed six new executives to oversee operations in the UK, Europe and Latin America to further expand the company's reach.
Multi-region cloud infrastructure supporting global operations
Limited technical details available; inferred from regtech focus and API-driven platform
| Service | Cost | Details | Source |
|---|---|---|---|
| Basic | $50/year | For 250 transactions | TrustRadius |
| Plus | $175/year | For 2500 transactions | TrustRadius |
| Pro | $500/year | For 25,000 transactions | TrustRadius |
| Enterprise | Custom quote | For institutions and high-volume needs | Official website and reviews |
| Free Trial | 2 weeks | Full access to test features and generate reports | Coinspot review |
| Feature | TaxBit | Koinly | CoinLedger | ZenLedger |
|---|---|---|---|---|
| Core Functionality | Crypto tax calculation & reporting | Crypto tax calculation | Crypto tax calculation | Crypto tax calculation |
| Pricing (starting price) | $50/year | $49/year | $49/year | $0-$149/year |
| Free Tier Availability | No (discontinued consumer) | No | No | Yes (limited) |
| Enterprise Features | Yes (SSO, audit logs) | Partial | No | Partial |
| API Availability | Yes (enterprise) | Yes | Yes | Yes |
| Integration Count | 150+ exchanges/wallets | 800+ | 500+ | Major exchanges |
| Support Options | 24/7 live chat | Email/chat | Email/chat | Email/chat |
| Security Certifications | Enterprise-grade | Yes | Yes | Yes |
TaxBit is primarily for large enterprises and focused on compliance in the U.S. whereas Koinly supports individual cryptocurrency traders globally who also have a wider array of DeFi options; TaxBit will support enterprise clients and be much more expensive than Koinly for enterprise clients that need to comply with very complex regulations.
TaxBit for institutional regulatory compliance; Koinly for individual DeFi users.
CoinLedger is an application that provides ease-of-use for retail customers (TurboTax) as well as an emphasis on institutional reporting and automation (TaxBit). CoinLedger costs less than TaxBit for low volume users but does not offer the same level of institutional sophistication.
CoinLedger for easy personal filing of cryptocurrency taxes; TaxBit for corporate-scale cryptocurrency accounting.
Both are U.S.-focused; however, ZenLedger allows free use by individuals while TaxBit moved to an enterprise model in 2023. TaxBit has better institutional partnerships and scale.
ZenLedger for cost-sensitive U.S. filers; TaxBit for corporate and public sectors.
TokenTax offers custom plans for high-volume traders while TaxBit offers greater institutional automation and broker integration capabilities; similar pricing but TaxBit has a larger scale and is stronger in U.S. regulatory compliance.
TokenTax for complex trading needs; TaxBit for platform/broker tax automation.
TaxBit allows users to import their historical transaction records into the platform from more than 500 different cryptocurrency exchanges and digital wallets by connecting them directly through APIs or uploading files using CSVs. Once connected, TaxBit will automatically calculate the gains, losses, and taxable events based upon methodologies such as First-In-First-Out (FIFO), Last-In-First-Out (LIFO), Highest-In-First-Out (HIFO), etc. After calculating these amounts, users will then be able to view their results in the form of a complete report with all of the necessary tax documents required to file their returns.
For those who want a free version of TaxBit to gain a simple overview of their transactions or for those that only invest in Ethereum, TaxBit offers a free Basic plan for those activities. However, if you have multiple investment positions, you will need to upgrade to one of TaxBit's two paid plans, the Plus plan at $175/year or the Pro plan at $500/year. The Plus plan includes tax optimization and an NFT suite, while the Pro plan offers CPA review of your tax return and IRS audit support.
TaxBit supports the taxation of over 2,000 coins and enables users in 150+ countries to take advantage of enterprise-grade tax preparation services, including an AI-powered rules engine and subledger integrations. TaxBit also provides real-time reporting capabilities for its users through partnerships with exchanges such as Gemini and provides free tax forms to its network members as opposed to simply basic calculators.
TaxBit protects users' personal information and ensures accurate tax computations and reporting that meets the regulatory requirements of all jurisdictions where its users operate. This makes TaxBit suitable for both individual and enterprise use.
Yes, TaxBit provides seamless integration with TurboTax and TurboTax Online, and users of TaxBit receive a discount on the purchase price of TurboTax products. Additionally, users of TaxBit can utilize the pre-populated tax forms provided by TaxBit when filing their crypto taxes.
All users of TaxBit have 24-hour access to live chat support. Paid levels of service include additional support such as custom CSV support, CPA consultations, and IRS audit assistance. While free plan users of TaxBit still have access to self-service documentation, they do not have direct access to customer support personnel.
A two-week free trial allows users to try out core functions of the product (e.g., importing data into the product; generating tax documents). The Basic plan remains free forever as long as you're just using it to track basic transactions.
The free version of the application will allow for uploading your transaction history and perform basic tax calculations for ethereum nfts/decentralized finance, however, you won't be able to use the advanced features such as tax-loss harvesting, an optimizer, or get any direct help from the company.
TaxBit is one of the most complete crypto tax and accounting applications that provide the highest degree of automation, provides the largest number of exchanges to integrate into your portfolio, and provides the most enterprise level compliance solutions. TaxBit can make the process of filing taxes much easier for both individual investors/traders and business owners who are involved with DeFi, NFTs, mining and other complex cryptocurrency activities across 150+ countries.
TaxBit is great for serious crypto users and businesses that put accuracy and timely compliance above basic free tools.
TaxBit comes with a free Basic plan plus several paid plans which range from $100 per year to $500 per year depending on the amount of integrations, how often you need to report, the type of tax optimization needed, etc. There are also features like turbo-tax integration, 24/7 support and an artificial intelligence based rule engine for compliance. TaxBit also tracks over 2,000 different cryptocurrencies across 150+ countries including DeFi/NFT and mining.
Good - detailed reviews from Milk Road and Coinspot, official site info on features/pricing. Limited direct access to support pages or G2 ratings; enterprise details sales-contact dependent.
The firm has partnered with TurboTax to enable seamless crypto tax filing and discounted rates. The company also integrates with some of the largest cryptocurrency exchanges (Coinbase, Gemini, Binance) to provide an automated feed of trading activity.
The company is backed by some well-known venture firms, such as PayPal Ventures, Winklevoss Capital, and Coinbase Ventures. The company markets itself as the leading provider of enterprise compliance solutions related to digital assets.
In addition to providing a subledger for recording all blockchain transactions, Koinly offers an artificial intelligence-based rules engine, along with pre-formatted reporting templates that include Forms 1099-K and 1099-R for businesses. Additionally, the company provides end-to-end accounting for bitcoin miners.
Koinly was featured in press releases highlighting its ability to unite both the individual and enterprise crypto tax experience. Koinly’s emphasis on ensuring the accuracy of global regulatory compliance is highlighted throughout their marketing efforts.
The Crypto.com tax tool automatically populates crypto transaction data including gains/losses and is free for users that also use the TaxBit Network
The TaxBit crypto tax calculator creates a summary of short-term and long-term capital gains/losses resulting from the disposition of cryptocurrencies
TaxBit’s Enterprise Platform provides the capability to issue broker-reported crypto transactions
TaxBit’s mining rewards, staking income, and other crypto-related payment tracking functionality enable users to report and track these types of income for tax purposes
Enterprise business model for crypto payment processors and digital markets
Verification and Reporting of 1099-DA for the impending IRS Broker Requirements
Foreign Account Reporting – Crypto Exchange Account Aggregation
Compatibility with TurboTax Premier (for direct export) for e-filing
Automatic API Data Feeds in Real Time with Transaction Import & Classification
Transaction History Sync from Wallet Providers – Including Self-Custody Accounts
NFT & DeFi Suite – Automated Yield Tracking & Impermanent Loss Positioning
Platform Partners – Direct Integrations to Generate Free Form Data Feeds
Export Tax Forms & Discount Programs for Professional Filing Software
Reconciliation of Institutional Custody & Sub-Ledger Accounting Integration
Default Method w/ Lot Precision Tracking Across All Supported Exchanges & Chains
Plus/Pro Users Only - Auto Identification of Loss Positions; Offset Optimization Up To $3,000 Ordinary Income
Trade Impact Analysis in Real-Time Prior to Execution Shows Tax Portfolio Consequences
Real-Time Cost Basis Calculation Across All Types of Transactions & Accounting Methods
Profits vs. Losses Trades Automatically Identified
Complex DeFi Yields & NFT Capital Gains Calculations
| Jurisdiction | Tax Classification | Capital Gains Taxed | Staking Income Taxed | Primary Forms | Special Considerations |
|---|---|---|---|---|---|
| United States | Property | Yes | Yes | Form 8949, Schedule D, 1099-DA | Tax loss harvesting up to $3K ordinary income offset; TurboTax integration |
| EU Countries | Varies by member state | Yes | Yes | DAC8 reporting | Primary market for enterprise compliance solutions |
| Canada | Capital Property | Yes (50% taxable) | Yes | T776, Schedule 3 | Superficial loss rules apply to crypto |
| United Kingdom | Capital Assets | Yes (CGT) | Yes | SA100, CGT summary | Annual exemption applies |
| Australia | Capital Gains Tax | Yes | Yes | Capital gains schedule | 12-month discount available |
| 100+ Countries | Varies | Varies | Varies | Local forms + US reporting | Multi-currency, multi-entity enterprise support |
Automated Posting to General Ledger, Transaction Categorization & Financial Statement Generation
Multiple Legal Entities (140+) Countries Compliance for FASB/IFRS
Enterprise Platform for Issuing 1099-B, 1099-K, 1099-MISC to Customers
Compliance Reporting for Platforms Required to Issue Tax Forms
IRS TIN Matching & Validation for Onboarding Enterprise Customers
Corporate Tax Calculations Including Fair Value Accounting
Access Control Based Upon User Roles; Live Creation of Tax Forms & Population Analytics
