This guide is specific to TokenTax’s crypto-only plans. These plans do not include US tax return filing. We advise that you reach out to our customer support staff if you are looking to purchase our full-filing service.
TokenTax offers three different fixed tiers of crypto-only plans with a fourth, more flexible tier for custom plans. These plans do not include tax filing. On the most basic level, each plan gives you access to the TokenTax software and allows you to generate the gain/loss report (Form 8949 for U.S.-based clients, and income report, that you need in order to report your crypto taxes.
Under each plan, you are responsible for importing your entire transaction history from the time you began trading so that our crypto accounting software can calculate an accurate cost basis for your gain/loss report (Form 8949 in the US). Our plans differ in terms of the features included with each, the level of automatic crypto data support, and the nature of the help our team will offer (troubleshooting via support vs. hands-on, Advanced Reconciliation).
Transaction count is not the most important factor in plan selection. Just because you only have 5,000 transactions does not mean that the Premium Plan will support all of your data. If you have used any L2s, alt chains, or sidechains, a Premium Plan is most likely not going to be the best fit for you. For questions about which plan will be required to support the chain(s) you have used, please reach out to our support team by clicking the chat icon in the bottom right hand corner or emailing [email protected].
Certain platforms can only be supported with a VIP Plan at minimum – L2s, alt chains, sidechains, dYdX, and many NFT projects will require at least a VIP Plan, and custom add-ons may be required depending on the volume and complexity of the data.
We offer an add-on for margin and futures trading support that starts at $399 per plan/year. This add-on will cover support for all margin and futures on centralized exchanges, though additional fees may be required in some edge cases with particularly complex/high volume margin data. The add-on does not cover dYdX or other on chain margin/futures platforms; coverage for these platforms will require the purchase of a VIP plan at minimum.
We offer a $199 20k transaction add-on per plan/year for any plan. If your transaction volume is greater than 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 VIP Plan, and it is available for purchase for $49 if you choose a Basic or Premium plan. Please note that you are responsible for filing your FBAR - this report just includes the information you will need to file.
If we offer an API integration for a DeFi chain, transactions uploaded from that chain may still require some manual editing or review (reconciliation). If a smart contract is not yet automated, the transactions may be pulled into our system as only raw data - the ins and outs of the entire transaction (in the form of non-taxable deposits and withdrawals). This is what we consider to be uncategorized data. In this case, some manual editing within our software will be required to reclassify the deposits/withdrawals as the correct transaction type. We offer Advanced Reconciliation - whereby a reconciliation specialist will take care of your manual edits for you - under our VIP plan and custom engagements. If you choose to tackle manual edits on your own with our Premium (self service) plan, our support team will offer guidance and resources to assist with this process.
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 after the tax year ends.
BASIC ($65/Tax Year):
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 in the US), and income report, necessary for reporting crypto taxes. This is a self-service plan – we will not handle any data reconciliation for you. Additionally the Tax Loss Harvesting Dashboard will not be accessible 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 in the US) for their taxes.
PREMIUM ($199/Tax Year):
The Premium plan supports up to 5,000 transactions, and you will have access to the Tax Loss Harvesting Dashboard. With this plan you can import CSVs, and you will have automatic API or CSV support for an extensive list of centralized exchanges. You may upload any exchange trading history via 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. Limited DeFi reconciliation support is offered – you can import data automatically with a wallet API sync for the various DeFi protocols on the most popular platforms. For a list of supported/automated protocols and platforms, please reach out to our support team.
If you have any questions about the scope of what our DeFi support covers, please ask our support team; they can provide guidance on what to expect and where to start.
This is a self-service plan, which means that we will not handle any data reconciliation for you. In order to use the platform successfully, you must maintain a full trade record across all exchanges and wallets, ensure that all imports are up to date, and identify and edit any transaction data that may require adjustment (due to data export issues from exchanges, potential duplicate imports, or smart contracts that are not yet automated). If you are experiencing difficulties, please consult our Help Center or contact support for guidance.
Generally, our clients are able to quickly and easily import CEX data and decentralized contracts with automated support. However, please bear in mind that smaller DeFi platforms, contract forks and more complex protocols will likely require some manual editing/entry.
If you have a high volume 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 and a plan recommendation based on your crypto data and personal needs.
We suggest a Premium Plan for casual traders who have used mostly centralized exchanges and some DeFi from the list of supported exchanges, or for advanced traders who are comfortable editing their own transaction data.
VIP ($3,499/Tax Year):
Our VIP Plan supports up to 30,000 transactions. It includes all of the features of the Premium Plan, plus support for margin-trading taxes, support for additional, more complex platforms, and hands-on, one-on-one assistance from our staff in the form of Advanced Crypto Reconciliation and two 30-minute consultation sessions with a tax expert.
We recommend the VIP plan for clients who:
Have used any unsupported DeFi platforms or have a high volume of DeFi data.
Have worked with NFTs outside of OpenSea, CryptoPunks, and other automatically supported platforms/contracts.
Have minted and sold their own NFTs (not using a service).
Have a high number of transactions with missing cost basis.
Would prefer to be more hands-off with their crypto data and allow the pros to handle their reconciliation.
Have lost access to portions of their data as the result of hacks or exchanges that are no longer in operation. (NOTE: If you anticipate that there might be exchanges you can no longer access, please reach 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 the transaction data you have on hand to see if you’re able to track movements of tokens. This may help you determine whether data is missing from your account. Without the records of movements into and out of an exchange, we may have to leave missing data as-is.
Advanced Crypto Reconciliation is a one-time service that usually begins after the calendar year of the plan you have purchased. For example, if you bought a 2022 plan, your recon would begin sometime in 2023. The time at which your reconciliation begins will depend upon your place in the queue (determined by the date on which you signed up), the completion of your “Recon Profile” on your TokenTax account, and how complicated your reconciliation will be. Your reconciliation will be completed so that your taxes can be filed either by the 4/15 US tax deadline, or by the 10/15 US tax extension deadline. If you have a crypto-only plan and intend to file your taxes by the October US tax extended deadline, you will need to file for an extension, and possibly pay any estimate. Please feel free to contact support if you need guidance in this process, or are a non-US resident.
Your two included 30-minute tax expert consultations should be for tax-related questions/advice. These can not be used to discuss your reconciliation. 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 significant amount 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)
A transaction volume higher than 50k
Other services not covered in the descriptions of our fixed plans
Our Full-Filing services are available to purchase, as an add-on, with a Premium or VIP Plan. This service is not automatically included with any of our plans. With our Full-Filing add-on, we will file your federal and state tax returns once your crypto reconciliation is completed. If necessary, we may also require you to file for extension in order to allow adequate time for any Advanced Reconciliation, or self reconciliation. Please note that the Full-Filing add-on is only available for US-based clients. For clients who wish to purchase our Full Filing add-on with our self service Premium Plan please make sure to reach out to our support team once your crypto data is ready to start the filing process.