This guide is specific to TokenTax’s crypto-only plans. These plans do not include tax return filing. We would advise that you reach out to our customer support staff if you are looking to purchase a full-filing plan.
TokenTax offers four different fixed tiers of crypto-only plans with a fifth, more flexible tier for custom plans. These plans do not include crypto tax filing. On the most basic level, each plan gives you access to the TokenTax software to generate the gain/loss report (Form 8949) that you would need to report your crypto taxes. For each plan, you are responsible for importing your entire transaction history from the time you began trading so that our crypto accounting software can obtain accurate cost basis for your gain/loss report (Form 8949). The different plans are characterized by the features included with each, the level of automatic crypto data support, and the level of personal attention received from our team.
Important things to note:
Transaction count is not the most important factor in plan selection. Just because you only have 5,000 transactions does not mean you will automatically be covered with the Premium Plan. If you have been using any unsupported DeFi platform (Binance Smart Chain, AVAX, etc.) a Premium Plan is most likely not going to be the best fit for you.
Certain platforms can only be supported with a VIP Plan at minimum – Binance Smart Chain, rebasing tokens (i.e. OlympusDAO), dYdX, and many NFT projects will require at least a VIP Plan (add-ons may be required depending on the volume and complexity of the data).
We offer a $199 20k transaction add-on for any plan. These add-ons are a one-time deal per plan/year. If you are going to require more than that your plan’s allotted transactions plus one 20k add-on, you will need to upgrade to a higher-tier plan.
The FBAR report is automatically included with our Pro Plans and VIP Plans, but it is still available for separate purchase if you choose a lower-tier plan. You can purchase an FBAR report at checkout for $49. Note that you are responsible for filing your FBAR, and this report just includes the information you will need to file.
If a certain DeFi protocol is on the list of “Supported DeFi”, that does not necessarily mean that manual editing/entry will not be required. For example, if you performed trades using a specific smart contract that we have not yet added support for, these “swaps” will come through as “deposit/withdrawal” transactions, and they would need to be merged into trades with a little manual editing.
As a crypto tax software and accounting company, we focus our reconciliation efforts and client data processing around the yearly tax deadlines. All manual reconciliations of margin trading or VIP reconciliations of your account data will be completed at year's end.
BASIC ($65/Tax Year):
As the name suggests, this is our most Basic Plan. This plan is suited for those with up to 500 transactions on Coinbase and Coinbase Pro only, and via API connection only. Just like with any other plan, you will be able to generate the gain/loss report (Form 8949) necessary for reporting crypto taxes. This is a self-service plan – we will not handle any data reconciliation for you. You will not have access to the Tax Loss Harvesting Dashboard under the Basic Plan. We suggest a Basic Plan for users of Coinbase and Coinbase Pro exclusively who simply want to generate a gain/loss report (Form 8949) for their taxes.
PREMIUM ($199/Tax Year):
This plan is one step up from our Basic Plan. With Premium, you get up to 5,000 transactions supported. You will have access to the Tax Loss Harvesting Dashboard with the Premium Plan and all higher tier plans. With this plan you can import CSVs, and will have automatic API or CSV support for a robust set of centralized exchanges. You may upload any exchange trading history CSV file. If our system doesn’t automatically process an exchange’s trade report, we can work with you to get the data formatted and imported as needed. You will receive support for three margin exchanges only – BitMEX, Deribit, and Bybit. Limited DeFi support is offered – you can import data automatically with a wallet API sync for the following DeFi protocols:
Uniswap v1, v2, and v3 (on Layer 1)
Empty Set Dollar
Dynamic Set Dollar
If you have any questions about the scope of what our DeFi support covers, please ask our support team, and they can likely give you guidance on what to expect and where to start.
Like our Basic Plan, this is a self-service plan – we will not handle any data reconciliation for you. Success in the use of the platform depends on you maintaining a full trade record across all exchanges and wallets, as well as monitoring and editing any transaction data that may require adjustment due to unsupported smart contracts, data export issues from exchanges, or potential duplicate imports. If you are having issues, please consult our Help Center for guidance.
Our team is also available via Live Chat support, but the final responsibility for your data will hinge on your maintaining a full transaction record and making sure all APIs and CSVs are up to date and you have imported all transactions and have checked to make sure there are no duplicates.
Generally, our clients are able to quickly and easily import CEX data and decentralized contracts and edit them, but’s it’s always best to keep in mind that smaller DeFi platforms, contract forks and more complex protocols will likely need your attention.
It is important to note that while the supported DeFi platforms on the list will sync via import, it may still require some manual editing/entry if you have interacted with any unsupported smart contracts.
If you have made a lot of DeFi transactions and are not comfortable reconciling your own data, you may want to consult one of our customer support staff members via live chat or email for an assessment of what plan might be best suited for you. Our team will offer honest plan recommendations based on your crypto data and your personal needs.
We suggest a Premium Plan for casual traders who have used mostly centralized exchanges with some light-moderate supported DeFi from the above list, or advanced traders who are comfortable editing their own transaction data.
PRO ($799/Tax Year):
Our Pro Plan supports up to 20,000 transactions. It includes all of the features of the Premium Plan, with the added bonus of support for margin trading taxes for all centralized exchanges. Additionally, you get an FBAR report included with your Pro Plan. The Pro Plan supports DeFi to the same extent as the Premium Plan.
The Pro Plan is a self-service plan – we do not handle any data reconciliation for you aside from manual margin trading tax calculations. It's important to note that these manual margin calculations are a one-time deal and not ongoing (all year). These will typically occur around the end of your plan's year. We recommend the Pro Plan for casual-avid traders who have done a lot of margin trading (using exchanges other than BitMEX, Deribit, and Bybit) with some light-moderate supported DeFi from the list of supported protocols (see Premium Plan).
VIP ($3,500/Tax Year):
This is our top-tier crypto-only plan. Our VIP Plan supports up to 30,000 transactions. It includes all of the features of the Pro Plan, plus support for some additional platforms and more involved personal attention from our staff – specifically, through the advanced crypto reconciliation and the two 30-minute consultation sessions with a tax expert. Advanced crypto reconciliation means that one of our recon specialists would be assigned to your case and handle all of your data reconciliation for you. This is especially necessary for:
Clients who have used any unsupported DeFi platforms, or just a lot of DeFi platforms in general.
Clients who have worked with NFTs outside of OpenSea, CryptoPunks, and other automatically supported platforms/contracts.
Clients who have minted and sold their own NFTs (not using a service).
Clients with a large number of transactions who have a difficult time tracking down missing cost basis.
Clients who would prefer to be more hands-off with their crypto data and allow the pros to handle their reconciliation.
Clients who have lost access to portions of their data as the result of hacks or exchanges no longer in operation. (NOTE: If you anticipate that there might be exchanges you can no longer access, consider reaching out to the exchange to request a copy of any transaction data they still have on file in advance of tax season. If the exchange no longer exists, consider reviewing your transaction data on-hand to see if you’re able to track movements of tokens so you have some idea of what data is missing from your account. In some cases, our recon team can help with filling in some of this missing data, but we are only as good as the info provided, and if we can't get records of movements in and out of an exchange, we may have to leave missing data as is.)
Advanced crypto reconciliation usually begins sometime during the following year for the plan year you have purchased. For example, if you bought a 2021 plan, your recon would begin sometime in 2022. The time at which your reconciliation begins will depend upon your place in the queue (determined by when you signed up), and how complicated your reconciliation will be. This is with the expectation that your taxes would be filed either by the 4/15 deadline, or by the 10/15 extension deadline (provided you filed for an extension – this is something you would be responsible for handling under any crypto-only plan, as these plans do not include TokenTax filing your taxes for you).
It's important to note that the reconciliation is a one-time service and not ongoing (all year).
Additionally, there are certain platforms for which we do not currently offer full support that will require additional fees for data reconciliation outside of the cost of the VIP plan - some examples being Avalanche, Solana, Fantom, and Terra.
Your two 30-minute tax expert consultations should be for tax-related questions/advice. Please note that no one on our staff, CPAs included, can give you actual investment advice. We recommend our VIP plans for avid traders with a high transaction count and/or a lot of DeFi/NFT use.
Custom Plans ($3,750+/Tax Year):
Custom Plans are essentially VIP Plans + additional fees required for specific crypto data that is outside of the scope of the typical VIP Plan. Some situations that may require a customized VIP plan include:
Use of certain unsupported DeFi: Avalanche, Fantom, Solana, and Terra, to name a few.
Over 50k transactions: a VIP plan plus the 20k transaction add-on will cover 50k transactions. Anything higher than this will need to be discussed in a consultation for a custom plan.
Other uncommon circumstances not covered in the descriptions of our fixed plans – reach out to our customer support staff if you don’t see your particular situation mentioned in our plan features.