ZenLedger Review – Pros And Cons Of This Crypto Tax Service

About ZenLedger

ZenLedger is a cryptocurrency tax and accounting software for crypto traders and investors to easily track all their crypto transactions and accurately pay taxes.

The ZenLedger mission is to provide crypto traders and tax professionals with a simple, user-friendly crypto tax tool with hundreds of supported blockchains, exchanges, and wallets. 

If you want to learn all about ZenLedger’s cryptocurrency tax software and whether or not a ZenLedger account is right for you, stick around for this in-depth ZenLedger review.

ZenLedger Crypto Tax Software Integrations

The ZenLedger crypto tax software supports direct integrations with 400+ exchanges, 20+ wallets, 50+ blockchains, and 100+ DeFi and NFT protocols.

The integrations into ZenLedger can be executed via API keys or CSV files, meaning calculating crypto taxes can be done automatically.

When it comes to exchanges, ZenLedger really does support just about every exchange out there, including DeFi exchanges like 1inch and Uniswap, which is not so common.

In terms of wallets, the list is much shorter, but examples of the wallets ZenLedger supports are Exodus, MetaMask, Coinbase Wallet, Trust Wallet, Ledger, and Trezor.

As for blockchains, all the major chains are supported, like Bitcoin, Ethereum, Cardano, Tron, Binance, Avalanche, EOS, Polkadot, Polygon, Ripple, and countless more.

In addition to all the above integrations, ZenLedger also supports a direct TurboTax integration to easily link all your transaction data with TurboTax Desktop or Online.

ZenLedger Features and Crypto Tax Reports

ZenLedger has a wide range of features and crypto tax reports users can expect from its tax and accounting software.

The main features and tax forms include an Additional Income form, capital gains and losses form, sales and other dispositions form, crypto tax-loss harvesting tool, and grand unified accounting.

Additional Income Report

ZenLedger uses your cryptocurrency transaction history to generate a Schedule 1, which is used to report income from sources other than wages, interest, and dividends.

Capital Gains and Losses Report

ZenLedger’s crypto tax calculator uses your transaction history to generate a Schedule D, which calculates all your capital gains and losses incurred throughout the tax year.

Sales & Other Dispositions Report

ZenLedger uses your transaction history to generate IRS Form 8949, which is used to report capital gains and losses from your crypto investments.

Crypto Tax-Loss Harvesting Tool

ZenLedger automatically analyzes your trade history and provides a list of tax-saving opportunities to take advantage of before the annual December 31st deadline.

Grand Unified Accounting

ZenLedger lets you see your entire transaction history across all your wallets and exchanges in one easy-to-read spreadsheet.

ZenLedger Pricing

ZenLedger offers five DIY plans for its crypto tax and accounting services (Free, Starter, Premium, Executive, and Platinum) and three tax professional prepared plans (Consultation, Single-Year Tax Report, and Multi-Year Tax Report).

Each of the five plans includes:

• Audit report
• Tax Pro Access
• HIFO/FIFO/LIFO
• Unlimited Exchanges
• Crypto as Income
• Mining or Donations
• ICOs & Airdrops
• Tax Loss Harvesting
• FinCen/FBAR Alert

In addition to the above features, each plan has its own unique features.

Free Plan

• Up to 25 Transactions
• All Detailed Reports
• Premium Support

Starter Plan ($49 per year)

• Up to 100 Transactions
• All Detailed Reports
• Premium Support

Premium Plan ($149 per year)

• Up to 5,000 Transactions
• All Detailed Reports
• Premium Support
• Defi/Staking/NFTs

Executive Plan ($399 per year)

• Up to 15,000 Transactions
• All Detailed Reports
• Premium Support
• Defi/Staking/NFTs

Platinum Plan ($999 per year)

• Unlimited Transactions
• All Detailed Reports
• Premium Support
• Defi/Staking/NFTs
• 2 Hours of Premium Support From a Dedicated Customer Service Agent

As for the tax professional prepared plans, the first plan is $295 for a 30-minute consultation with a crypto tax attorney.

The next plan, the Single-Year Tax Report, provides a full tax report prepared by a crypto tax professional and starts at $3,500.

The final plan, the Multi-Year Tax Report, is the same as its single-year counterpart but gives you a discount for bundling two years, with a starting price of $6,500.

ZenLedger Learning Resources

The last feature of the ZenLedger platform worth diving into is its resource section, which is full of learning material and helpful crypto tax guides.

Whether you’re interested in information on taxes and accounting, industry news, trading and investing, or countless other topics related to cryptocurrency taxes, ZenLedger has articles to help you out.

Each article is incredibly extensive and well-organized, so the resource section really is an invaluable resource filled with helpful information.

Taxes can be quite confusing with a nascent industry like crypto, so taking advantage of ZenLedger’s resources is highly recommended.

How ZenLedger Compares to Competitors

The most appropriate crypto tax software to weigh against ZenLedger would likely be those of Koinly and TaxBit.

Both crypto tax softwares have free and paid plans, just like ZenLedger, but the best service for anyone will still depend on their specific tax needs.

Koinly’s free plan will include far more transactions than ZenLedger (10,000), but it doesn’t generate tax reports unless you opt for the $49 per year plan (or a higher tier plan).

However, the top-tier Koinly plan ($179) includes pretty much everything you would get with the best ZenLedger plans but supports unlimited transactions (which is only included in ZenLedger’s $999 plan).

As for TaxBit, its free plan includes unlimited transactions, current-year tax forms, and a DeFi and NFT tax engine, making it the ideal free plan out of the three.

The paid plans for TaxBit are also just as good or better than ZenLedger and Koinly, so it’s easily the best alternative for crypto tax services.

The key advantage ZenLedger has over other platforms is it offers its tax-loss harvesting tool in all of its plans, which TaxBit only offers in its $175 or $500 plans, and Koinly doesn’t offer at all.

For that reason, ZenLedger could be better if your focus is tax-loss harvesting, but short of that, TaxBit is probably the better option to consider for both free and paid plans.

ZenLedger Review – Final Thoughts

After carefully walking through all of its services for this ZenLedger review, we believe ZenLedger is good crypto tax and accounting software, but it doesn’t quite measure up to other competitors.

If your focus is tax-loss harvesting and you aren’t willing to spend a little more on a competitor’s higher-tier plan, ZenLedger would be one of the better options, but it supports so few transactions that it might not be all that practical, especially for active traders.

Another reason ZenLedger could be a good choice is if you are looking for specific DeFi protocols to be supported that many tax services don’t include, but many tax services do include DeFi protocols, so that won’t necessarily be much of an advantage.

Beyond those (potential) minor advantages over other crypto tax platforms, ZenLedger probably won’t be the best free or paid crypto tax service available.

Given that ZenLedger has a free plan, it would be worth looking into and measuring against alternatives, but it would be tough to find a reason to choose it over something like TaxBit unless you have very few transactions.