ZenLedger CryptoTax is a dedicated crypto tax software with extensive direct support for various crypto platforms and robust customer support. TaxAct Premium+ 2024, while a general tax software, integrates with crypto tax platforms like TaxBit and CoinLedger and provides a tax form accuracy guarantee, making it a viable option for users seeking broader tax solutions with crypto capabilities.
| Attribute | ZenLedger CryptoTax | TaxAct Premium+ 2024 |
|---|---|---|
| Supported Cryptocurrency Exchanges | Supports 400+ exchanges, 30+ blockchains, 20+ DeFi protocols, NFTs, and all wallets. | TaxAct does not have automatic integrations with exchanges but partners with TaxBit (supports over 500 exchanges) and integrates with CoinLedger. |
| Tax Form Generation | IRS Schedule D, Form 8949, Schedule 1 | Generates Schedule D and Form 8949 for capital gains/losses. Asks about virtual currency on IRS Form 1040. Uses Form 1040 (Schedule 1) for income from staking and mining. |
| Capital Gains/Loss Calculation Methods | FIFO, LIFO, HIFO, Average Cost Basis (AVG). Default is HIFO. | Calculates capital gains by subtracting the cost basis from the sale price. |
| Integration with Tax Filing Software | TurboTax, TaxAct | Integrates with crypto tax platforms like CoinLedger, TurboTax and H&R Block. Also integrates with TaxBit. |
| Audit Trail and Reporting Capabilities | Audit Trail report, Accountability Report | TaxAct Alerts inspect returns for errors and missed tax-saving opportunities. |
| Cost Basis Tracking Methods | FIFO, LIFO, HIFO, Average Cost Basis. Uses market data from price aggregators like CoinMarketCap and CoinGecko. | Relies on users to import cost basis information. Partners with TaxBit to automate tracking cost basis. |
| Tax Loss Harvesting Tools | Identifies unrealized losses in each token type. | CoinLedger has a Tax-Loss Harvesting report. |
| DeFi Transaction Support | Yield farming, staking, providing liquidity to decentralized exchanges | CoinLedger can track interest income and other income. |
| NFT Transaction Support | Yes | Digital assets include non-fungible tokens (NFTs). |
| Tax Form Accuracy Guarantee | Not available | Offers a '$100k Accuracy Guarantee' that covers up to $100,000 in IRS penalties, fees, or audit costs related to calculation errors. |
| Customer Support Channels and Response Time | Live chat (response < 10 minutes during business hours), email (same-day for non-urgent questions), scheduled support meetings. Help desk: 9 am - 9 pm EST, 7 days a week. | Offers phone and email support. Chat support is available as part of the paid Xpert Assist add-on. |
| Data Security and Privacy Measures | Third-party audits, security awareness training, encryption, password complexity standard, PBKDF2 function for credential hashing. | Employs physical, logical, and technical safeguards, including multi-factor authentication, strong password requirements, account protection measures, and CAPTCHA technology. |