Crypto Tax Software

What software can be used to calculate historic crypto gains and losses?

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I have a client who has bought and sold crypto since 2013 and now needs to calculate the gains / losses for the entire period since 2013 /14.  All of the transactions upto March 2024 were crypto to crypto trades, and there were on average 50 to 100 trades a year.
I am looking for software which can link to the trading platform, and calculate these historic gains and losses.
Does anyone have any recommendations, and idea of cost?

Replies (8)

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Danny Kent
By Viciuno
23rd May 2024 10:50

We use Koinly. Think cost is c£60 per tax year (per client). You can bulk buy but we don't have enough clients that have crypto stuff to report to make it worthwhile.

It's a bit of a pain, but no more so than anything else in the crypto sphere. You need to sense check everything.

Thanks (2)
Replying to Viciuno:
By rob glover
23rd May 2024 13:22

Thank you for that. I had briefly looked at Koinly, and good to get your feedback on it.

Thanks (0)
By Alfietheaccountant
23rd May 2024 18:26

A second thumbs up for Koinly - produces a Uk tax report so easy to them report income and/or gains and HMRC tend to accept these reports as well where needed.

Thanks (1)
By FactChecker
23rd May 2024 18:29

Not sure why cost is a concern?

If client "now needs to calculate the gains / losses for the entire period since 2013 /14" then presumably no tax returns (or only incomplete ones) filed for 10 years?

And given the variety of platforms probably used during that time (some of which are no longer in business whilst those that are will have 'upgraded' their software and formats at least once) ... the likelihood of a series of seamless downloads is not high.

Thanks (2)
Replying to FactChecker:
By rob glover
24th May 2024 07:54

Yes this is exactly the situation. Only the latter part of this period can be calculated using software for the reasons you suggest.

Thanks (0)
By cathyne
24th May 2024 13:09

Koinly does the job, but I believe that RECAP also does the with the added bonus of processing the Foreign currency exchange rate for each transaction

Thanks (2)
Replying to cathyne:
By Sam_Recap
15th Jul 2024 11:43

Thank you for the recommendation. Feel free to reach out to the team Rob - either in app or to [email protected] and we'll help as much as we can. Cost wise - our annual subscription is £99-179 depending on the number of transactions - we provide access to previous tax year reports as far back as user data goes - this is where other software can be misleading - some charge an annual subscription plus per tax report.

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By philevo81
30th May 2024 13:07

Koinly. But don’t be fooled by its simplistic approach. Working in crypto tax requires knowledge of how crypto works. You shouldn’t use or advise on it unless you are confident you are competent to get it right, at your own peril (or else carry very good PII)!

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