Your 1099-DA just arrived with $0 cost basis. The IRS per-wallet rules changed everything on January 1, 2025. FIFO is the default unless you actively elect Specific ID. And if you've used more than one exchange or touched DeFi at all — manual tracking is no longer realistic.
You need crypto tax software. But which one? There are over a dozen options in 2026, and most comparison articles are written by the software companies themselves. This guide is independent, data-driven, and focused on what matters for the 2026 tax season: 1099-DA reconciliation, per-wallet cost basis tracking, and Form 8949 accuracy.
We tested and compared 8 platforms across 12 criteria. Here's what we found.
⚡ Quick Verdict — 2026 Tax Season
- Best Overall: CoinLedger — easiest to use, per-wallet ready, $49/yr
- Best for DeFi/Power Users: Awaken Tax — deepest on-chain coverage
- Best for TurboTax Users: CoinTracker — official TurboTax + H&R Block partner
- Best Free Option: TaxBit — free basic tier, limited features
- Best for CPAs/Professionals: Summ — CPA collaboration tools, audit-proof reports
- Best International: Koinly — 100+ countries supported
- Best Full-Service: TokenTax — in-house accountants file for you ($3,499)
π Table of Contents
1. Why You Need Crypto Tax Software in 2026
2026 is the first tax season where three major rule changes hit simultaneously:
| Rule Change | Impact | Why Software Is Essential |
|---|---|---|
| Form 1099-DA (first year) | Exchanges report gross proceeds to IRS — but no cost basis for 2025 | Software reconciles your actual basis against 1099-DA data and generates corrected Form 8949 |
| Per-Wallet Cost Basis (Rev. Proc. 2024-28) | Each wallet/exchange = separate tax account. No more pooling lots | Software tracks basis per-wallet automatically — manual tracking across 3+ platforms is impractical |
| FIFO Default | If you don't elect Specific ID, FIFO applies — often the worst tax outcome | Software lets you compare FIFO vs HIFO vs Specific ID and choose the method that saves the most |
Without crypto tax software, you're likely overpaying. The $0 basis on your 1099-DA turns every sale into 100% taxable gain unless YOU fix it.
2. Master Comparison Table: 8 Platforms
| Software | Starting Price | 1099-DA Import | Per-Wallet | Spec ID / HIFO | DeFi | 8949 Auto | TurboTax | Countries |
|---|---|---|---|---|---|---|---|---|
| CoinLedger | $49/yr | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ | US, CA, AU, JP+ |
| Koinly | $49/yr | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ | 100+ |
| CoinTracker | $59/yr | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ (Official) | US, CA, UK, AU+ |
| Awaken Tax | $99/yr | ✅ | ✅ | ✅ | ✅✅ | ✅ | ✅ | US, CA, UK, AU+ |
| Summ | $49/yr | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ | 200+ |
| TaxBit | Free | ✅ | ✅ | ⚠️ Limited | ⚠️ Limited | ✅ | ✅ | US |
| TokenTax | $65/yr | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ | US, CA, UK, AU |
| Bitcoin.Tax | $55/yr | ⚠️ | ⚠️ | ✅ | ❌ Limited | ✅ | ✅ | US, CA, DE, UK |
3. Detailed Reviews (Top 6)
π #1 CoinLedger — Best Overall
✅ Our Pick: Best for Most Crypto Investors
Easiest to use. Per-wallet tracking in a few clicks. Missing cost basis troubleshooting flow built in. Expert Review option for $499 if you want a human to check your return. 700,000+ users.
| Feature | Details |
|---|---|
| Price | $49 (100 txns) / $99 (1,000 txns) / $199 (unlimited) |
| 1099-DA | ✅ Import + reconciliation against your records |
| Per-Wallet | ✅ One-click switch to per-wallet tracking |
| Accounting Methods | FIFO, LIFO, HIFO, Specific ID |
| DeFi/NFT | ✅ Auto-classification of DeFi, staking, NFT trades |
| Tax-Loss Harvesting | ✅ Built-in TLH report shows biggest opportunities |
| Form 8949 | ✅ Auto-generated with correct box codes (H/K/I/L) |
| Tax Software | TurboTax, H&R Block, TaxAct, TaxSlayer |
| Support | Email + live chat (all tiers, including free) |
| Unique Feature | Missing Cost Basis Troubleshooting flow + Expert Review ($499) |
#2 Koinly — Best for International Users
| Feature | Details |
|---|---|
| Price | $49 (100 txns) / $99 (1,000 txns) / $199 (10,000 txns) |
| 1099-DA | ✅ |
| Per-Wallet | ✅ |
| Accounting Methods | FIFO, LIFO, HIFO, Specific ID, ACB (Canada), Share Pooling (UK) |
| DeFi/NFT | ✅ + margin trading support |
| Countries | 100+ (strongest international coverage) |
| Tax Software | TurboTax, TaxAct |
| Support | Email only — help center has gaps |
| Known Issue | Some users report mislabeled transaction types requiring manual fix |
#3 CoinTracker — Best for TurboTax/H&R Block Users
| Feature | Details |
|---|---|
| Price | $59 (100 txns) / $199 (1,000 txns) / $599 (10,000 txns) |
| 1099-DA | ✅ Official Coinbase integration |
| Per-Wallet | ✅ |
| Accounting Methods | FIFO, LIFO, HIFO, Specific ID |
| DeFi/NFT | ✅ |
| Unique Feature | Official TurboTax + H&R Block partnership — seamless import |
| Tax-Loss Harvesting | ✅ |
| Support | Forum-based for lower tiers; priority support at $599+ (Ultra) |
| 10,000+ Cryptos | ✅ |
| Known Issue | Most expensive per-transaction at scale; priority support locked behind top tier |
#4 Awaken Tax — Best for DeFi Power Users
| Feature | Details |
|---|---|
| Price | $99 (300 txns) / $199 (1,000 txns) / $399 (10,000 txns) |
| 1099-DA | ✅ |
| Per-Wallet | ✅ |
| Accounting Methods | FIFO, LIFO, HIFO, Specific ID |
| DeFi/NFT | ✅✅ Deepest on-chain detection — auto-labels swaps, LPs, bridges, staking |
| Real-Time Tax Calc | ✅ (unique — shows tax impact before you trade) |
| CPA Collaboration | ✅ Shared workspace for accountant access |
| Support | Email + chat (all tiers) |
| Known Issue | Higher starting price; smaller user base than CoinLedger/Koinly |
#5 Summ — Best for CPAs & Professional Collaboration
| Feature | Details |
|---|---|
| Price | $49 (100 txns) / $99 (1,000 txns) / $499 (unlimited) |
| 1099-DA | ✅ Verify + correct 1099-DA data against your records |
| Per-Wallet | ✅ |
| Accounting Methods | FIFO, LIFO, HIFO, Specific ID |
| DeFi/NFT | ✅ 3,500+ integrations |
| Unique Feature | Audit-proof reports + CPA collaboration tools |
| Tax Software | TurboTax, Form 8949 PDF |
| Countries | 200+ |
| Known Issue | Newer product — smaller community; some integrations still in beta |
#6 TaxBit — Best Free Option
| Feature | Details |
|---|---|
| Price | Free (basic) — limitations on advanced features |
| 1099-DA | ✅ |
| Per-Wallet | ✅ |
| Accounting Methods | FIFO (Specific ID limited on free tier) |
| DeFi/NFT | ⚠️ Limited |
| Tax Software | TurboTax |
| Support | |
| Best For | Simple CEX-only users with <50 transactions |
| Known Issue | Limited DeFi support; Specific ID not fully available on free plan; US-only |
4. 1099-DA Compatibility Check
This is the #1 feature that matters in 2026. Your 1099-DA arrived with $0 cost basis. Can your software fix it?
| Software | Import 1099-DA | Reconcile vs Your Records | Flag $0 Basis | Auto-Correct Basis | Generate Corrected 8949 |
|---|---|---|---|---|---|
| CoinLedger | ✅ | ✅ | ✅ (Troubleshooting flow) | ✅ | ✅ (Box H/K/I/L) |
| Koinly | ✅ | ✅ | ✅ | ✅ | ✅ |
| CoinTracker | ✅ | ✅ | ✅ | ✅ | ✅ |
| Awaken Tax | ✅ | ✅ | ✅ | ✅ | ✅ |
| Summ | ✅ | ✅ (Verify mode) | ✅ | ✅ | ✅ (Audit-proof) |
| TaxBit | ✅ | ⚠️ Basic | ⚠️ | ⚠️ Limited | ✅ |
| TokenTax | ✅ | ✅ | ✅ | ✅ | ✅ |
| Bitcoin.Tax | ⚠️ Manual | ⚠️ Limited | ❌ | ❌ | ✅ |
✅ Key Insight: CoinLedger's "Missing Cost Basis Troubleshooting" flow is unique — it walks you through exactly which transactions have $0 basis and helps you fix them before generating the 8949. No other platform has this as a dedicated workflow.
5. Per-Wallet & Accounting Method Support
Since January 1, 2025, the IRS requires per-wallet cost basis tracking under Rev. Proc. 2024-28. Here's how each platform handles it:
| Software | Per-Wallet Tracking | FIFO | LIFO | HIFO | Specific ID | Compare Methods Side-by-Side |
|---|---|---|---|---|---|---|
| CoinLedger | ✅ One-click | ✅ | ✅ | ✅ | ✅ | ✅ |
| Koinly | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ |
| CoinTracker | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ |
| Awaken Tax | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ (Real-time preview) |
| Summ | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ |
| TaxBit | ✅ | ✅ | ⚠️ | ⚠️ | ⚠️ Free tier limited | ❌ |
| TokenTax | ✅ | ✅ | ✅ | ✅ | ✅ | ⚠️ |
| Bitcoin.Tax | ⚠️ Manual setup | ✅ | ✅ | ✅ | ✅ | ❌ |
Why "Compare Methods Side-by-Side" Matters
Here's a real example of how much the accounting method affects your tax bill for the exact same 1 BTC sale at $66,000:
| Method | Cost Basis Selected | Taxable Result | Tax @ 24% |
|---|---|---|---|
| π΄ FIFO (default) | $23,000 (oldest lot — Mar 2021) | +$43,000 gain | $10,320 |
| π‘ LIFO | $97,000 (newest lot — Jan 2024) | −$31,000 loss | $0 |
| π’ HIFO | $97,000 (highest cost lot) | −$31,000 loss | $0 (+ deduction) |
| π’ Specific ID | You choose the optimal lot | Up to −$31,000 loss | $0 (+ deduction) |
$10,320 vs $0 — Same BTC. Same sale. The only difference: which accounting method your software uses.
π FIFO vs Specific ID Deep Dive
See the full $74K tax swing breakdown with per-wallet examples Read the Per-Wallet Guide →
See the full $74K tax swing breakdown with per-wallet examples Read the Per-Wallet Guide →
6. Pricing Breakdown: What You Actually Pay
By Transaction Count: 100 Transactions
| Software | Price (100 txns) | Cost Per Transaction |
|---|---|---|
| TaxBit | Free | $0.00 |
| Koinly | $49 | $0.49 |
| CoinLedger | $49 | $0.49 |
| Summ | $49 | $0.49 |
| Bitcoin.Tax | $55 | $0.55 |
| CoinTracker | $59 | $0.59 |
| TokenTax | $65 | $0.65 |
| Awaken Tax | $99 | $0.99 |
By Transaction Count: 1,000 Transactions
| Software | Price (1K txns) | Cost Per Transaction |
|---|---|---|
| Summ | $99 | $0.099 |
| Koinly | $99 | $0.099 |
| CoinLedger | $99 | $0.099 |
| Awaken Tax | $199 | $0.199 |
| CoinTracker | $199 | $0.199 |
| TokenTax | $199 | $0.199 |
| Bitcoin.Tax | $100 | $0.100 |
| TaxBit | Free* | $0.00* |
By Transaction Count: 10,000+ Transactions (Active Traders)
| Software | Price (10K txns) | Cost Per Transaction |
|---|---|---|
| Koinly | $199 | $0.020 |
| CoinLedger | $199 (unlimited) | Best value at scale |
| Awaken Tax | $399 | $0.040 |
| Summ | $499 | $0.050 |
| CoinTracker | $599 | $0.060 |
| TokenTax | $799+ | $0.080+ |
| Bitcoin.Tax | $100 | $0.010 |
| TaxBit | Free* | $0.00* |
⚠️ "Free" isn't always free. TaxBit's free tier doesn't include Specific ID/HIFO, has limited DeFi support, and is US-only. Bitcoin.Tax is cheap but lacks DeFi coverage and per-wallet automation. The $49–$99 range (CoinLedger, Koinly, Summ) offers the best balance of features and price for most users.
✅ Cost vs Savings: If switching from FIFO to HIFO saves you even $500 in taxes, a $49–$99 software subscription pays for itself 5–10x over. Most users save far more than the cost of the software.
7. Which Software Is Right for You? (Decision Matrix)
| Your Situation | Best Pick | Why |
|---|---|---|
| Casual investor, <100 trades, Coinbase only | TaxBit (Free) or CoinLedger ($49) | Free gets the job done for simple CEX-only; CoinLedger if you want HIFO + TLH report |
| Multiple exchanges (Coinbase + Kraken + Gemini) | CoinLedger ($49–$99) | Per-wallet tracking + missing basis troubleshooting across multiple exchanges |
| DeFi/DEX heavy (Uniswap, Aave, Jupiter, LPs) | Awaken Tax ($99–$199) | Deepest on-chain auto-detection; real-time tax calc before trades |
| TurboTax filer wanting seamless import | CoinTracker ($59) | Official TurboTax + H&R Block partnership — fewest import issues |
| International (UK, EU, Australia, Canada) | Koinly ($49) | 100+ country support; local accounting methods (Share Pooling, ACB) |
| Working with a CPA | Summ ($49–$499) | CPA collaboration workspace; audit-proof report generation |
| High net worth / want someone to file for you | TokenTax ($3,499) | In-house accountants handle everything start-to-finish |
| Budget-conscious, <20 trades | Bitcoin.Tax ($55) or TaxBit (Free) | Cheapest options, but limited DeFi and per-wallet features |
8. FAQ: 15 Questions About Crypto Tax Software
Q1: Do I really need crypto tax software?
If you have more than a handful of transactions, yes. The combination of 1099-DA reconciliation, per-wallet cost basis tracking, and accounting method optimization is nearly impossible to do manually — especially across multiple exchanges. Even 10 trades across 2 platforms creates tracking complexity that software handles in minutes.
Q2: Can I use TurboTax alone for crypto taxes?
TurboTax can handle basic crypto reporting, but it wasn't built for crypto. It has limited exchange integrations (about 10), no DeFi/NFT support, and no per-wallet tracking. For anything beyond simple buy-and-sell on one exchange, you should use dedicated crypto tax software and import the 8949 into TurboTax.
Q3: Which software works best with the 1099-DA?
CoinLedger, Koinly, CoinTracker, Awaken Tax, and Summ all handle 1099-DA import and reconciliation well. CoinLedger has a unique "Missing Cost Basis Troubleshooting" flow. CoinTracker has official partnerships with Coinbase for direct data sync. Summ offers a "Verify" mode specifically for checking 1099-DA accuracy.
Q4: Can the software switch me from FIFO to HIFO?
Yes. All major platforms (CoinLedger, Koinly, CoinTracker, Awaken, Summ) let you toggle between FIFO, LIFO, HIFO, and Specific ID with one click. The software recalculates your entire gain/loss report instantly. Under Notice 2025-7, you are allowed to use Specific ID for 2025 transactions.
Q5: Is my data safe with crypto tax software?
All platforms on this list use read-only API connections — they cannot move, trade, or withdraw your crypto. Your private keys are never shared. Most use bank-level encryption (AES-256) and SOC 2 compliance. Awaken Tax and Rotki offer local/self-hosted options for maximum privacy.
Q6: What if I used a DEX and have no 1099-DA?
DEX trades (Uniswap, PancakeSwap, Jupiter, etc.) are not reported on the 1099-DA, but they're still taxable. Connect your wallet address to your crypto tax software — it reads on-chain data and auto-classifies swaps, LP deposits/withdrawals, and staking events. Report these on Form 8949 using Box I (short-term) or Box L (long-term).
Q7: Can I switch software mid-year?
Yes, but it's easier to switch before you file. Most platforms allow CSV import from other tools. The key is ensuring your complete transaction history (all exchanges + wallets + DeFi) is imported into the new software so cost basis carries over correctly.
Q8: Do any of these platforms file my taxes for me?
TokenTax ($3,499) has in-house accountants who handle everything from start to finish. CoinLedger offers "Expert Review" ($499) where a tax professional reviews your return before filing. All other platforms generate the tax forms — you still need to file them yourself or give them to your CPA.
Q9: What about staking rewards and airdrops?
All major platforms track staking rewards and airdrops as ordinary income (taxed at FMV when received). This is typically reported on Schedule 1 or as miscellaneous income — separate from capital gains on Form 8949. Make sure your software auto-classifies these correctly.
Q10: Is there a free option that actually works?
TaxBit offers a free tier that handles basic CEX trades and generates Form 8949. However, it lacks Specific ID/HIFO on the free plan and has limited DeFi support. For most users, the $49 tier on CoinLedger, Koinly, or Summ is a better value — the tax savings from HIFO alone typically exceed the subscription cost.
Q11: Can I use crypto tax software for past years?
Yes. Most platforms (CoinLedger, Koinly, Summ, Awaken) allow you to generate reports for prior tax years. This is important if you need to amend past returns or establish historical cost basis for assets you're selling now. Some charge per tax year, others include past years in the subscription.
Q12: What if my software's numbers don't match the 1099-DA?
Your gross proceeds should match the 1099-DA (the IRS cross-checks this). Your cost basis will likely differ because the 1099-DA shows $0 or "unknown." On Form 8949, use Column (f) Code B and Column (g) to explain the adjustment. This is normal and expected for 2025 transactions. 1099-DA Filing Guide →
Q13: How do I handle NFTs in crypto tax software?
CoinLedger, Koinly, CoinTracker, and Awaken all support NFT tracking. The software imports your NFT purchases and sales from supported marketplaces and wallets. NFTs may be taxed at the collectibles rate (28%) rather than the standard capital gains rate — check with your CPA. Sales under $600 may not appear on the 1099-DA but are still taxable.
Q14: Can I deduct the cost of crypto tax software?
Potentially. If you're a professional trader (Schedule C), the software subscription is a deductible business expense. For individual investors, it's more complex — the Tax Cuts and Jobs Act suspended miscellaneous itemized deductions through 2025. Consult your CPA about deductibility for your specific situation.
Q15: What's changing in 2027 that I should prepare for now?
Two major changes: (1) CARF 2027 — 48 countries will automatically share crypto transaction data, making offshore accounts transparent to the IRS. (2) Full cost basis reporting on the 1099-DA for 2026 transactions — meaning discrepancies between your records and broker reports will be easier for the IRS to flag. Start using crypto tax software now to build accurate historical records. CARF 2027 Guide →
π Related Guides
Disclaimer: This article is for informational and educational purposes only. It does not constitute tax, legal, or financial advice. The author has no paid sponsorships or affiliate relationships with any software mentioned in this guide. All pricing and feature information is based on publicly available data as of February 2026 and is subject to change. Tax laws are complex, change frequently, and vary by jurisdiction. Consult a qualified tax professional (CPA, tax attorney, or enrolled agent) before making any tax-related decisions. The author and Legal Money Talk are not responsible for any actions taken based on this content.
