ZenLedger is a crypto tax management tool that helps consumers and investors track their crypto holdings. It allows users to import their trading history from a CSV file, generate IRS-compatible tax forms, and even offer crypto-accounting assistance. The software supports several features, including automatic gain and loss calculations, an export feature for reporting, and a tax-loss harvesting feature.
With ZenLedger, you can easily prepare your taxes in three easy steps. First, you create an account. Next, you must connect your accounts through Binance.us, Google, or an external wallet. After that, you can start reviewing your transactions, ensuring that your taxes are filed correctly. If you are unsure, you can contact ZenLedger’s customer support, who will be happy to help. Lastly, you can download the forms and reports you need.
Why Crypto Tax Software?
ZenLedger is a crypto tax preparation software that integrates with over 400 digital exchanges, automatically calculating gains and losses and a cost basis. It also supports HIFO (first in, first out) and FIFO (last in, first out). As a result, you can easily track your gains and losses and record all your transactions. Depending on your transaction limits, you may be able to use the service for free.
ZenLedger has an integrated Grand Unified Spreadsheet, a tax liability management feature that easily tracks all your crypto-related transactions. Spreadsheets can also be used to track your gains and losses. They make it easy to identify and avoid taxes on capital gains and losses. This is especially useful for traders who are looking to offset their gains.
Also Related: Benefits of Tax Loss Harvesting
Whether you are an investor just starting or a seasoned trader, you will find that ZenLedger can make filing your taxes more manageable and more accurate. The program can import all your transactions, which it can then analyze to determine gains and losses. Using the tax-loss harvesting feature, you can avoid paying capital gains taxes on unrealized capital losses. This strategy is usually utilized at the end of the year.
Professionally Prepared Tax Reports
ZenLedger can also provide a tax report prepared by a professional. The amount you pay for the service will depend on the number of transactions and the yearly value of your asset portfolio. You can choose from a single-year report, which costs $3,500, or a multi-year report, which costs $6,500 per two years. You can save 10% on the services by choosing a plan for multiple years.
ZenLedger’s pricing plans are based on the number of transactions and the total value of your assets. The minimum fee is $69 for the lowest package, which is for less than 100 transactions, and the maximum is $99. If you are a more prominent user, you can purchase a premium plan for $149. This plan includes the ability to import 5,000 trades per year, as well as many other tax-related features.
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