Compare Coin Trade Ledger vs. Taxoshi

Coin Trade Ledger features a uniquely designed calculation engine tailored for the precise assessment of cryptocurrency profits and losses, ensuring exceptional detail and accuracy. This platform allows users to easily upload their transaction data and generate comprehensive profit and loss tax reports, providing insights into individual trading accounts, specific instruments, and the entire cryptocurrency portfolio. Data can be uploaded through file formats like CSV and Excel, or via API, where we facilitate direct connections to exchanges on your behalf. The system accommodates trades, deposits, and withdrawals, all of which are factored into the generated reports. Additionally, to maintain data integrity, users are restricted from importing duplicate data sets; if a potential duplicate is detected, we will notify you, allowing you to decide whether to retain or remove the record. Our extensive price archive offers minute-by-minute trade data for various assets and currencies, ensuring that every price lookup yields the highest level of accuracy available. By employing these features, Coin Trade Ledger empowers users with an unparalleled understanding of their cryptocurrency investments.

If you have engaged in the buying, selling, earning, receiving, or any other form of acquiring digital currencies within a particular tax year, it's highly likely that you must report any profits or losses on your tax return. If there's any uncertainty regarding your obligations, consulting with the Inland Revenue or your accountant is advisable. In New Zealand, the Inland Revenue classifies digital currencies as a category of property. Their guidelines for cryptocurrency taxation specify that profits or losses must be assessed using the First in First Out method, converting values into New Zealand Dollars at the time of each trade, even when the transactions are between different cryptocurrencies. This process can be quite complex and may require several days to sort through, even with just a few trades. If you've incurred a loss, it could potentially be deducted from your income tax, providing some relief. Our advanced algorithms simplify this process by automating the necessary currency conversions and calculating your trading and mining profits and losses in line with Inland Revenue's regulations. Simply provide us with your exchange exports and mining addresses, and we will handle the rest to ensure your compliance and accuracy. This way, you can focus on your investments without the tax-related stress.