Crypto Tax Software Must-Haves: What You Need to Know About IRS Form 1099-DA

Crypto tax software has become a necessity due to new regulations from the IRS. Starting in 2026, centralized exchanges will be required to issue Form 1099-DA, reporting crypto sales and disposals directly to the IRS.

This new requirement makes it crucial for crypto holders to accurately report their transactions and calculate their tax obligations. A good crypto tax software can help with this task by connecting to multiple exchanges, wallets, and providing specialized tax reports for different countries.

Several options are available in the market, each with its own pricing plans and features. Koinly, CoinLedger, TokenTax, and ZenLedger are some of the popular choices among crypto holders. Each software has its unique strengths and weaknesses, making it essential to choose one that suits individual needs.

Koinly is a great option for international filers, offering free imports up to 10,000 transactions before calculations halt. CoinTracker stands out for its automatic handling of DeFi activities, while TokenTax provides full-service accounting with human filing support for high-volume traders.

ZenLedger is certified for security and offers detailed reports for TurboTax integration. The choice ultimately depends on the individual's specific requirements and preferences.