Ethereum

What are the best tools for crypto taxes so the IRS doesn’t make a surprise visit?

Give Koinly a try if you want a rough estimate and smart UI. If you are prepared to do some heavy lifting and clean up your on-chain data, then cointracking.info is your best bet.

EigenDA DevRel - onchain thinker and sharer of information
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Prev @ intuition.systems

Chiang Mai, Mueang Chiang Mai District, Chiang Mai, Thailand

Lawyer and researcher focusing on DLT, cryptocurrencies and Blockchain solutions.| Views are my own | Posts are not advice |

Both apps analyse all wallet transactions and transfers pretty smoothly but sometimes get the interpretation of an on-chain action wrong so you need to check the outputted reports for anomalies.

Having just done my taxes in Australia last week for the crypto businesses, I used both tools together and it was still a complete ball-ache. Crypto taxes are easily the toughest to understand and get right.

Koinly has a better UX to give you the context of the on-chain activity but not as many audit tools, while cointracking has the better analytic/audit tools for you to do a deep dive.