Automatic Cryptocurrency Tax Calculator
Filing your taxes can be confusing and time-consuming, especially if you’re dealing with cryptocurrencies but fear not, this ZenLedger Review looks to provide clarity.
If you’re like most people, the thought of filing your taxes makes you feel anxious and overwhelmed. You probably don’t have time to research all of the different options out there, and even if you did, it’s hard to know which one is right for you.
ZenLedger is the perfect solution for crypto tax filing. It’s easy to use, it’s affordable, and it offers a wide range of features that will make tax season much less stressful.
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Who is ZenLedger?
Headquartered in Denver, CO with offices worldwide, the company was founded in 2018 to provide world-class accounting and tax services for cryptocurrency investors, traders, and enthusiasts. The company’s mission is to empower individuals and businesses with accurate financial information so they can make informed decisions about their digital assets.
The main focus of ZenLedger’s service is helping customers ease their burdens during tax season. They offer a variety of software tools that allow customers to easily track their crypto investments and accurately prepare their taxes without having to take on the tedious task of manually calculating capital gains and losses or dealing with complex IRS forms. Furthermore, they provide automated tax reports and have a dashboard that helps customers keep track of their portfolios.
ZenLedger is the perfect solution for your crypto tax filing needs.
Crypto Taxes
When it comes to taxes, crypto can be a complicated subject. There are a lot of different rules and regulations relating to tax on cryptocurrency that you need to keep track of, and if you’re not careful, it’s easy to end up owing more money than you actually have.
ZenLedger’s product allows users to easily track, manage, and report their cryptocurrency transactions with ease. Zen Ledger is committed to helping every user navigate the complex world of cryptocurrency taxation. Their platform boasts features such as automated calculation of gains and losses, import options from multiple exchanges, portfolio tracking tools, and detailed CSV files and PDF reports.
And best of all, they are always up-to-date on the latest changes in the tax world, so you can be confident that you’re getting the most accurate information possible and staying compliant with cryptocurrency taxation laws. So if you’re looking for a way to save time and stress during tax season, look no further than ZenLedger software.
If you’re looking for even more advanced features, such as crypto tax-loss harvesting and integrations with traditional tax software, Zen Ledger has got you covered.
So why wait? Get started on your crypto taxes today!
How Zen Ledger works
ZenLedger Product
An intuitive, user-friendly interface that allows users of all levels to quickly understand the tax filing process. In summary, this is how ZenLedger Crypto Tax Software works
Connect To Over 500+ Crypto Exchanges and Wallets
Connects directly to over 500+ crypto exchanges and wallets, including Coinbase, Binance, Kraken, and more.
Review Your Crypto Transactions
Reviews your cryptocurrency transactions in order to accurately calculate capital gains, losses, and other taxes due. ZenLedger’s product also automates the creation of forms such as 8949 and 1040 Schedule D that are needed for filing taxes
Download and File Your Crypto Tax Forms
Finally, it’s easy to download your tax forms and seamlessly file them with the IRS or other relevant authorities to pay your taxes on cryptocurrency.
Zen Ledger Review: Tax Features
Crypto Tax-Loss Harvesting Tool
Take advantage of the Tax Loss Harvesting feature to optimize your tax benefits! You can conveniently identify losses by tracking and analyzing transactions and market performance. Strategically selling digital assets at precisely the right time allows you to minimize capital gains while maximizing savings – meaning more money in YOUR pocket when it’s time for paying taxes on cryptocurrency.
Reducing your taxes on cryptocurrency whilst staying compliant with cryptocurrency tax law! It doesn’t get any better than that!
Grand Unified Accounting
Discover ZenLedger and witness firsthand a revolutionary way to view your entire transaction history across wallets and exchanges–all in one convenient spreadsheet. Plus, their cryptocurrency tax calculator makes sure all taxes are calculated accordingly! It’s the perfect package for any crypto investor.
TurboTax Direct Integration
TurboTax is the biggest and most popular tax preparation software in the US, so it’s no surprise that they’ve integrated with it as an official turbotax partner.
TurboTax is even offering a special discount to Zen Ledger users this year. So if you’re looking for an easy and convenient way to file your taxes, be sure to check out ZenLedger.
On Demand Customer Service
They strive to deliver the highest-quality customer service possible. Their dedicated in-house support team is available 7 days a week from 9am – 9pm EST to answer any questions you may have. Plus, a powerful online help center supplies helpful FAQs and guides so that you can quickly get answers on your own!
And if that’s not enough, tax professionals are standing by with free advice and guidance whenever you need it.
Exchanges- Which Are Supported?
If you’re looking for a comprehensive crypto tax tracking solution, ZenLedger is definitely worth checking out. They support more than 500 cryptocurrency exchanges with forty different blockchains including twenty DeFi projects via API integration – far more than any other app on the market.
This means that you can rest assured that your transactions will be efficiently aggregated in one place, and tracked accurately. So if you’re looking for a one-stop shop for all your crypto tax needs, look no further than ZenLedger.
Prominent exchanges supported are:
- Binance
- Bittrex
- Coinbase
- Gemini
- HitBTC
- Huobi
- Kraken
- KuCoin
- Liqui
- Poloniex
Pros and Cons?
ZenLedger Pros:
ZenLedger is one of the most popular cryptocurrency accounting and tax platforms. And there are good reasons for its popularity. Below are some of the pros of using ZenLedger.
- First, it is very user-friendly with a simple dashboard. The platform has a clean and intuitive interface that makes it easy to use, even for those who are not familiar with cryptocurrency accounting. This crypto tax product provides a variety of features and tools to meet your needs and provides US clients with relevant tax forms.
- Second, it is very affordable. It is free to sign up and there are no monthly fees on the FREE crypto tax software plan.
- Third, it is very reliable. The platform uses industry-leading security protocols to ensure that your data is safe and secure.
- Fourth, it is very comprehensive. The platform supports all crypto exchanges and wallets and has direct integration with more than any other crypto taxes software.
- A cool feature is the tax-loss harvesting tool which tells you which coins are down in value and have unrealized losses. This allows you to consider selling coins that are down in value to offset this loss against your gains with the view of reducing your tax liability.
- Lastly, the support team is very responsive and helpful. They are always willing to help users with any issues or questions they may have. Experienced tax professionals ensure that this crypto taxes software is the perfect crypto tax tool for crypto tax reports, tax loss harvesting, and capital gains this tax season. This tool will make it very easy to prepare and pay taxes for all of your crypto wallets and even DeFi protocols.
ZenLedger Cons:
There are a few ZenLedger cons to be aware of before using the software.
- ZenLedger customer service may be limited depending on the plan you have purchased. The Executive Plan offers one-on-one customer support from ZenLedger’s Tax Professionals Team, but lower plans may only offer access to ZenLedger’s chatroom customer service. You may consider other crypto taxes software such as Koinly and TokenTax for their good customer support.
- The biggest dealbreaker to cryptocurrency tax reporting software is that the documents that can be downloaded from the platform are only useful to those who are operating in the United States.
Overall, ZenLedger is a powerful tool for tracking cryptocurrency portfolios, but it is important to be aware of its limitations before using it. For investors and tax professionals that need to report crypto gains and want to save time and potentially save money with a tax loss harvesting tool then this could be a good option for you.
This post discusses some of the Best Crypto Tax Software if you want to look at the competition!
ZenLedger Pricing
Understanding that crypto users come from all walks of life and that everyone has different needs when it comes to their accounting and taxes. That’s why they offer a variety of different account types on their
Whether you’re a beginner who is just getting started with crypto or an experienced trader who has been around for years, they will have an account tier that will fit your needs.
They also offer enterprise accounts for businesses and institutions.
Starter Plans
If you’re just getting started with cryptocurrency, ZenLedger’s Free plan may be a good fit for you. You’ll be able to import up to 25 crypto transactions into the software, and you can still download all of your tax documents. Premium customer support is also available.
However, keep in mind that advanced crypto use cases like staking, DeFi and NFTs are not supported. If you need more than 25 transactions per year, you can upgrade to the Starter plan for $49. This plan allows you to import up to 100 transactions per year.
Whether you choose the free crypto tax software or a Starter plan, you can simplify your crypto taxes.
Premium Plans
Premium users are able to import up to 5,000 trades for $149 per year. This is one of the most popular plans and is ideal for most crypto traders. It also includes support for Defi, Staking and NFTs.
Executive Plans
The Executive Plan costs $399 and offers 15,000 imports from exchanges, customizable reports for accountants and tax professionals and automated tax loss harvesting tools for reducing tax liabilities. With ZenLedger’s Executive Plan easily connects your crypto accounts and wallets which will allow ZenLedger to generate accurate reports that include capital gains/losses, income and cost basis calculations, as well as IRS forms such as the 8949 and 1040 Schedule D.
Platinum Plan
The Platinum Plan costs $999 and offers Unlimited imports, designed for high-volume traders, investors, and businesses dealing with large amounts of cryptocurrency. The Executive Plan includes all the features available on Zenledger’s Premium & Executive Plans plus extra features to help users save time and money including 2 hours of premium support from an agent.
Tax Professional Prepared Plans
If you’re not comfortable handling your taxes on your own, ZenLedger can put you in touch with a certified tax professional who can help.
They have three options available
- A consultation plan includes 30 mins consultation for $295
- The single-year tax report starts at $3500
- Multi-year tax report starts at $6500
Crypto Tax Reports and Forms
With Zen Ledger crypto tax software, cryptocurrency traders and investors can quickly prepare compliant reports in no time. Whether you have a few or thousands of transactions, our platform is capable of handling any exchange activity from multiple wallets! Your audit trail analysis will be accompanied by straightforward visuals that display the capital gains/losses associated with each asset class traded. After importing your data for review, the platform will generate comprehensive summary forms that comply with cryptocurrency tax laws.
Included but not limited to the following forms:
- Audit Trail Report: ZenLedger’s Audit Trail Report offers crypto investors the ability to capture their trading activity over an entire tax year, allowing for much greater detail in regard to each transaction. This report includes total quantity and cost per trade, as well as other important data points. Plus, it can be easily accessed in a convenient CSV file!
- Form 8949:With ZenLedger, you can effortlessly utilize your trade data to complete the IRS Form 8949. This will create compatible versions of your documents that are ready for filing with crypto taxes software.
- Mining and Staking Income Report: Watch your mining, staking, airdrop and other earnings accumulate in real-time—and the financial value it generates.
- International Gain / Loss Report: Their comprehensive capital gains and losses report can be tailored to suit international traders’ needs.
Top-Rated Crypto Tax software on Trustpilot?
ZenLedger is highly rated crypto tax software on Trustpilot and Reddit. They’ve many customer reviews on Trustpilot and it is one of the top-rated products on Reddit’s Cryptocurrency Tax Subreddit. Reviews consistently praise its easy-to-use interface and helpful customer support team. Competitive pricing plans make it an attractive option for both casual investors as well as professional traders. ZenLedger is quickly becoming the go-to choice for anyone looking for an effective way of calculating taxes on cryptocurrency.
ZenLedger Alternatives?
Although ZenLedger is a great Crypto Tax Software solution, there are other tax filing software alternatives that you can consider. Let’s compare Zen Ledger to some of the top cryptocurrency tax software options on the market, including those offering free crypto tax software:
Zenledger vs Koinly
Koinly is the ultimate portfolio tracking and tax reporting solution for cryptocurrency holders. It features a wide range of tools, from automated imports to trading history, custom performance-tracking reports, analytics dashboards and much more – all spread across multiple platforms like exchanges and wallets! Become an expert in cryptocurrency taxation with Koinly; it’s your one-stop shop for all crypto needs.
Check out our detailed Koinly crypto tax software review for more information.
Zenledger vs TokenTax
With TokenTax, tracking cryptocurrency investments and generating capital gains tax reports is simple. Offering support for virtually all exchanges and wallets, including Coinbase, Binance, Gemini etc., the popular cryptocurrency taxation solution has features such as automated import of trading history which allows users to keep detailed track of their portfolio performance for accurate cost basis calculations over any given period. Furthermore, data can easily be accessed from the dashboard in order to generate customized reports needed when filing taxes!
Zenledger vs CoinLedger
CoinLedger is an excellent alternative for tracking your cryptocurrency transactions. This powerful software allows you to stay up-to-date with all of your crypto exchange and wallet data, including profit/losses from each transaction in real time. Furthermore, CoinLedger includes a thoughtful toolset so that you can calculate taxes based on the IRS’s cost basis methodologies; plus generate custom tax reports which are exportable into PDF or CSV files!
Ultimately, none of the other tax software has a significant edge over others, all of the above paid and free crypto tax software options work great.
Frequently Asked Questions
Is ZenLedger Good for Beginners?
For starters, new investors in the cryptocurrency space will be happy to know that Zen Ledger can interface with all major exchanges. This is key, as it means that users will not have to go through the process of manually inputting data – a time-consuming task that is can dissuade many people from even attempting to file their taxes on digital assets.
Furthermore, Zen Ledger automates a lot of the complex calculations involved in cryptocurrency taxation- something that would otherwise be very daunting for newcomers.
Finally, the customer support team is extremely responsive and knowledgeable, meaning that users will always have someone to turn to if they have any questions or need help getting started.
What’s the Sign-Up Process?
ZenLedger believes that crypto accounting should be simple and easy to understand – no matter how complex your financial situation may be. That’s why they’ve designed their sign-up process to be quick and straightforward.
To get started, simply click the “Get Started for Free” button in the top-right corner of the homepage. On the next page, you’ll be asked to enter an email address and password to create your account. Although, you also have the option of logging in via your Coinbase or Google accounts.
Is ZenLedger suitable for International Traders?
While Zen Ledger currently only offers explicit support for tax documents in the United States, users in other countries can still benefit from the platform’s ability to calculate taxes owed in other jurisdictions.
This app supports more than 140 different fiat currencies, and any country that uses the HIFO, FIFO, or LIFO methods can be supported. In addition, the app provides a variety of helpful features, such as the ability to import data from major exchanges and wallets, and it provides step-by-step guidance on how to file your taxes.
In addition, the team is actively working on expanding the platform’s capabilities to include support for more countries and jurisdictions. As a result, ZenLedger is quickly becoming the go-to solution for anyone looking to simplify the complex world of cryptocurrency taxes.
Is Zen Ledger Free?
Yes, ZenLedger can be used for Free. ZenLedger offers several paid plans aswell, with prices ranging from $49 per year up to $999 per year depending on the features you need. They also include a 7-day money back guarantee if you are not satisfied with their services.
How much do you get taxed on crypto?
Despite the fact that cryptocurrencies were designed to be autonomous and immune from government control, most governments expect taxes on cryptocurrency profits. This means regardless of whether you use your coins as an investment or cash equivalent if their value has increased since purchase then they may be taxable for tax season. Here’s a Handy Guide from Forbes for more information on cryptocurrency tax law.
ZenLedger Reviews: Conclusion
In conclusion, ZenLedger is an excellent choice for anyone looking to easily manage and optimize their taxes when trading cryptocurrencies. With its intuitive user interface, a wide range of features such as Tax Loss Harvesting and Grand Unified Accounting, TurboTax Direct Integration, and on-demand customer service, ZenLedger makes filing your crypto taxes simpler and more convenient than ever before. Invest in ZenLedger today and get the most out of your cryptocurrency investments!
Happy Trading!
That concludes our review of ZenLedger. Here are some other reviews you might enjoy;
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