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 |

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.

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.

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.

Thanks for the context! Gifted warps

This pair sounds great, no easy way to do it but need to get it done nonetheless