The CLARITY Act failed in the Senate yesterday.
It needed 60 Senate votes to move it forward and got 49.
So the bill that was supposed to decide who regulates crypto in America is stalled. No SEC and CFTC split. No new rules for exchanges and brokers. Back to the status quo.
The one thing that still might change? Your crypto taxes.
A different bill that WOULD change your taxes was introduced in the House the day before the Senate vote on the Clarity Act. A proposal, not law.
It would apply the wash sale rule to crypto.
Sell a coin at a loss and buy it back within 30 days, and you can't claim the loss.
Today that rule only covers stocks and securities, which is why you can sell a coin at a loss, claim it, and buy it back the same day.
And the rule is written to apply to any sale after September 14th, 2026. The day the bill was introduced. Not the day it passes.
So while everyone was watching the Senate stall the big bill, a smaller one arrived that could reach back and cover trades you make this week.
Full breakdown 👇
CoinLedger
Crypto tax reporting platform with 1,000+ integrations and official TurboTax export
4.2/ 5
Our score
Very good
Tax reports for
United StatesUnited KingdomCanadaAustralia+2
Free plan
Yes
Paid plans from (per tax year)
$49
Exchange & wallet integrations
1,000
DeFi & NFT support
Yes
Reports produced
Form 89491099-DA Reconciliation
What is CoinLedger?
CoinLedger is a cryptocurrency tax reporting and portfolio management software that aggregates transaction histories to generate capital gains, losses, and income reports. Originally launched as CryptoTrader.Tax, the platform connects to over 1,000 exchanges, wallets, and blockchains to automate tax accounting and export data directly to services like TurboTax and TaxAct.
Team and background
Founded in 2018, CoinLedger is led by co-founder and CEO David Kemmerer, a former sales professional at Oracle who holds a finance and investment degree. The company operates from Saint Louis, Missouri. The business has processed more than $70 billion in total transaction volume.
How it works
The software automatically ingests activity across supported networks, including Ethereum, Solana, Base, BNB Chain, Cardano, and Sui. It flags transfers between self-custody wallets to maintain accurate cost basis records rather than treating deposits as taxable gains. Users can review preliminary calculations before downloading their completed tax forms. For taxpayers facing complex filings, such as misreported Form 1099-DA figures, CoinLedger also provides a full-service Done For You reconciliation service.
Pricing and regional availability
Portfolio tracking and tax report previews are free. Downloading completed, ready-to-file tax reports starts at $49 per tax year under the self-service plans. The Done For You expert reconciliation service starts at $3,500 following a custom quote. Paid software plans include a 14-day money-back guarantee. The platform supports tax reporting for the United States, the United Kingdom, Canada, Australia, and Germany, alongside gain-and-loss reports in international currencies.
Risks and limitations
Tax-report downloads start at $49, and the Done For You service starts at $3,500.
Founders
David KemmererCo-Founder & CEO
Former sales professional at Oracle who holds a finance degree and serves on the Forbes Finance Council.
Best for:TurboTax and TaxAct filersTraders needing 1099-DA cost basis reconciliationMultichain users across major EVM and Solana ecosystems
Pros and cons
Pros
- Connects to more than 1,000 exchanges, wallets, and blockchains
- Direct export integration with TurboTax and TaxAct
- Previews full tax report calculations before requiring payment
- Tax reporting support for the US, UK, Canada, Australia, and Germany
- Backed by a 14-day money-back guarantee on paid plans
Cons
- Downloading completed tax forms requires paid plans starting at $49
- White-glove expert service carries a high starting price of $3,500
Our review
4.2/5
Very good
CoinLedger provides automated tax reconciliations and direct TurboTax exports, but downloading finalized reports requires a paid tier starting at $49.
CoinLedger, founded in 2018 as CryptoTrader.Tax and led by CEO David Kemmerer, automates tax form preparation across centralized exchanges, DeFi protocols, and self-custody wallets. The platform reports serving over 700,000 investors and processing $70 billion in cumulative transaction volume. CoinLedger is an official TurboTax partner and generates outputs that plug into TurboTax Online, TurboTax Desktop, and TaxAct, alongside IRS Form 8949 and country-specific summaries for jurisdictions like Germany, the UK, Australia, and Canada.
For US filers managing the 2025 tax year rules, CoinLedger reconciles incoming Form 1099-DA filings against actual cost-basis history. Exchanges often report gross proceeds to the IRS with zero or incomplete acquisition costs; CoinLedger flags missing basis points between cross-wallet transfers before calculations finalize. Portfolio tracking and preliminary tax previews remain free.
- Downloading finalized, ready-to-file tax reports requires a paid tier starting at $49.
- Full hands-off assistance through the Done For You tier starts at $3,500.
CoinLedger suits active crypto traders and US taxpayers who focus on direct exports into TurboTax or need structured 1099-DA reconciliation. Users who exclusively hold simple balances without cross-wallet transfers or those seeking permanently free tax document downloads may prefer basic manual spreadsheets or native exchange-generated reports.
Sources (1)
Specs
| Tax reports for | United States, United Kingdom, Canada, Australia, Germany, Other · unverified |
|---|---|
| Free plan | Yes |
| Paid plans from (per tax year) | $49 · unverified |
| Exchange & wallet integrations | 1,000 |
| DeFi & NFT support | Yes |
| Reports produced | Form 8949, 1099-DA Reconciliation · unverified |
| TurboTax export | Yes |
| Tax professional support | Yes · unverified |
Not disclosed by the provider: Accountant portal, Mobile app, Free trial.
Data from the provider's website and public sources. Fees and availability change; confirm on the official site before you sign up.
Key features
TurboTax and TaxAct export
Directly export completed capital gains schedules and Form 8949 data into TurboTax Online, TurboTax Desktop, and TaxAct.
Automated cost basis tracking
Connects over 1,000 exchanges, wallets, and blockchains to track transfers and reconcile missing acquisition costs.
Form 1099-DA reconciliation
Matches reported broker proceeds against actual wallet histories to correct omitted cost basis data on IRS forms.
DeFi and NFT support
Ingests on-chain actions across networks like Solana, Ethereum, Base, and Polygon to classify mints, swaps, and gas fees.
Done For You tax service
Full-service account reconciliation by crypto tax specialists starting at $3,500 with completion in 3 to 4 weeks.
Free portfolio tracker
Monitors market value, asset cost basis, and unrealized returns across all connected wallets without an upfront fee.
Inside CoinLedger
DIY Crypto Tax Software
The self-service engine connects to wallets and exchanges, flags missing cost basis across transfers, and generates ready-to-file tax forms.
Crypto Portfolio Tracker
A free monitoring dashboard that tracks current asset prices, cost basis, total market value, and unrealized returns across all connected wallets.
Done For You
A full-service tax preparation tier where dedicated specialists import, classify, and reconcile complex transaction histories for a custom quote starting at $3,500.
CoinLedger screenshots
What users say about CoinLedger
CoinLedger provides multi-wallet and exchange syncing, reporting for complex crypto transactions, and exports to tax services like TurboTax and H&R Block. User feedback points to occasional difficulties when importing and interpreting older exchange transaction data.
In their own words
“Yes this is what I’m doing. I don’t have the patience or time to reach out to Kraken. They’ve been ignoring my emails for two months. I used CoinLedger.io which has a nice ledger of all trades along with accurate gains summaries for the year.”
“CoinLedger.io has kept me going good and honest for 1/2 a decade in crypto. No letters and I report EVERYTHING. Rather pay now than pay more later. DO NOT EVADE! It is an open-ledger and “they” will figure out where the money went. Be honest and get it done right.”
“I totally feel your pain last year I was in the exact same mess with multiple wallets, staking, and NFT flips. I tried a few software tools and the one that actually saved me hours and gave me peace of mind was CoinLedger.”
“Taxes for coinbase pro / GDAX So I just had a file for an extension because I cannot get an accurate report for my taxes owed. It seems like most of my issues center around any transaction done on coinbase pro, which unfortunately I probably have hundreds.”
Based on 31 Reddit posts and comments from the last 12 months, checked Oct 20, 2026. These are posts by users on other sites, not reviews submitted on CryptoReview.
User reviews
No user reviews yet. Have you used CoinLedger? Share your experience below.
FAQ
Who founded CoinLedger?
CoinLedger was founded in 2018 by CEO David Kemmerer alongside two co-founders. Kemmerer previously worked in sales and go-to-market roles at Oracle and holds a finance degree.
How much does CoinLedger cost?
Importing transactions, portfolio tracking, and previewing tax calculations are free. Downloading completed tax reports starts at $49, while the Done For You human reconciliation service starts at $3,500.
Does CoinLedger connect directly to TurboTax?
Yes, CoinLedger is an official TurboTax partner. Users can import their crypto gains and loss reports directly into TurboTax Online, TurboTax Desktop, and TaxAct.
Which blockchains and platforms does CoinLedger support?
CoinLedger connects to over 1,000 exchanges, wallets, and blockchains. Supported networks include Ethereum, Solana, Cardano, Polygon, BNB Chain, Base, Arbitrum Nova, zkSync Era, and Sui.
How does CoinLedger handle Form 1099-DA?
CoinLedger reconciles 1099-DA proceeds against your multi-wallet transaction history to identify missing cost basis. This prevents overstating capital gains when exchanges report disposition amounts without purchase prices.
Latest from CoinLedger on X
Your cold wallet isn't anonymous once it touches Coinbase.
The second you deposit from a self-custody wallet, Coinbase ties that address to the KYC info already on file for your or someone else's account.
From there, firms like Chainalysis start linking other wallets that might be yours based on transaction patterns.
The second you deposit from a self-custody wallet, Coinbase ties that address to the KYC info already on file for your or someone else's account.
From there, firms like Chainalysis start linking other wallets that might be yours based on transaction patterns.
How the IRS actually finds unreported crypto income:
- Exchange records: KYC exchanges issue 1099 forms and hand over account data on request
- Blockchain analysis: the IRS contracts with firms like Chainalysis to map wallet activity and flag undeclared income
- Legal tools: the IRS has used John Doe summons to force exchanges to hand over bulk customer data
A cold wallet isn't invisible either. The moment it sends to or receives from a KYC'd exchange, blockchain analytics can link it back to your identity, no matter how long ago the transaction happened.
Worth knowing before you assume "they'll never trace this one."
- Exchange records: KYC exchanges issue 1099 forms and hand over account data on request
- Blockchain analysis: the IRS contracts with firms like Chainalysis to map wallet activity and flag undeclared income
- Legal tools: the IRS has used John Doe summons to force exchanges to hand over bulk customer data
A cold wallet isn't invisible either. The moment it sends to or receives from a KYC'd exchange, blockchain analytics can link it back to your identity, no matter how long ago the transaction happened.
Worth knowing before you assume "they'll never trace this one."
Crypto Tax Crash Course (USA) — Simple & Actionable
Selling, swapping, or spending crypto = taxable event.
Even BTC → ETH counts as selling BTC. Every one of these goes on Form 8949 as a capital gain or loss.
2. Income-Based Crypto (taxed the day you receive it)
These are taxed at fair market value (FMV) the moment they hit your wallet:
Staking rewards, Mining rewards, Airdrops, Referral/sign-up rewards, Play-to-earn tokens, Liquidity, mining/yield rewards
Later, when you sell these tokens, that triggers a second taxable event (capital gain/loss).
3. Wallet-to-wallet transfers are NOT taxable.
Just mark them as self-transfers so your tax tool doesn’t mislabel it as a sale.
4. NFT Taxes
NFTs are taxed almost the same as crypto:
Buying an NFT Buying with ETH/SOL = taxable (because spending crypto counts as a sale). Buying with USD or stablecoins = NOT taxable.
Selling an NFT Triggers capital gain/loss based on your cost basis.
Minting NFTs Usually not taxable unless you receive something with clear FMV.
NFT Royalties Counted as ordinary income.
5. DeFi Taxes
Some common DeFi actions do create taxable events:
Swaps on DEXes Treated as trades → capital gain/loss.
Providing Liquidity If you receive an LP token for your deposit, the IRS sees it as trading your crypto for a new asset → taxable event.
Removing Liquidity You’re effectively swapping one asset for another → taxable.
Yield/Rewards from LP pools, nodes, staking, etc. Counted as income at FMV on the day you receive it.
Bridging Assets: Not taxable if the asset stays the same. But wrapped assets (or bridges that issue a new token) can be taxable.
(this can be gray area. reach out if questions)
6. Cost Basis Is King
Cost basis = what you originally paid for the asset.
If you lose it, the IRS assumes you bought the crypto for $0 → meaning 100% profit on every sale. That means massive overpaying.
Track it or regret it.
7. Use a Crypto Tax Tool (seriously)
Pick an IRS-compliant tool built for U.S. crypto taxes.
It will:
Auto-import exchange + wallet data Track cost basis properly Detect self-transfers Handle DeFi + NFTs Generate Form 8949 + full tax reports
Save you hours (or days) of manual cleanup
Even casual traders benefit from using one.
Crypto is fun when you’re clicking buttons. It gets messy when you have to explain those clicks to the IRS.
Tax season is not a nightmare. Poor tracking is.
Good luck for the upcoming tax season. I hope this helps.
Selling, swapping, or spending crypto = taxable event.
Even BTC → ETH counts as selling BTC. Every one of these goes on Form 8949 as a capital gain or loss.
2. Income-Based Crypto (taxed the day you receive it)
These are taxed at fair market value (FMV) the moment they hit your wallet:
Staking rewards, Mining rewards, Airdrops, Referral/sign-up rewards, Play-to-earn tokens, Liquidity, mining/yield rewards
Later, when you sell these tokens, that triggers a second taxable event (capital gain/loss).
3. Wallet-to-wallet transfers are NOT taxable.
Just mark them as self-transfers so your tax tool doesn’t mislabel it as a sale.
4. NFT Taxes
NFTs are taxed almost the same as crypto:
Buying an NFT Buying with ETH/SOL = taxable (because spending crypto counts as a sale). Buying with USD or stablecoins = NOT taxable.
Selling an NFT Triggers capital gain/loss based on your cost basis.
Minting NFTs Usually not taxable unless you receive something with clear FMV.
NFT Royalties Counted as ordinary income.
5. DeFi Taxes
Some common DeFi actions do create taxable events:
Swaps on DEXes Treated as trades → capital gain/loss.
Providing Liquidity If you receive an LP token for your deposit, the IRS sees it as trading your crypto for a new asset → taxable event.
Removing Liquidity You’re effectively swapping one asset for another → taxable.
Yield/Rewards from LP pools, nodes, staking, etc. Counted as income at FMV on the day you receive it.
Bridging Assets: Not taxable if the asset stays the same. But wrapped assets (or bridges that issue a new token) can be taxable.
(this can be gray area. reach out if questions)
6. Cost Basis Is King
Cost basis = what you originally paid for the asset.
If you lose it, the IRS assumes you bought the crypto for $0 → meaning 100% profit on every sale. That means massive overpaying.
Track it or regret it.
7. Use a Crypto Tax Tool (seriously)
Pick an IRS-compliant tool built for U.S. crypto taxes.
It will:
Auto-import exchange + wallet data Track cost basis properly Detect self-transfers Handle DeFi + NFTs Generate Form 8949 + full tax reports
Save you hours (or days) of manual cleanup
Even casual traders benefit from using one.
Crypto is fun when you’re clicking buttons. It gets messy when you have to explain those clicks to the IRS.
Tax season is not a nightmare. Poor tracking is.
Good luck for the upcoming tax season. I hope this helps.
🚨 Illinois just did what no state ever has.
It is now taxing crypto TRANSFERS, not just gains.
Starting Jan 2027: a 0.2% tax on digital asset transactions (exchange, transfer, custody) handled for Illinois customers.
It technically falls on the exchange. But they collect it and pass it to you as a line item, like sales tax.
Worth knowing: this is a state tax, separate from federal. Moving crypto between your own wallets still isn't a taxable event federally.
It is now taxing crypto TRANSFERS, not just gains.
Starting Jan 2027: a 0.2% tax on digital asset transactions (exchange, transfer, custody) handled for Illinois customers.
It technically falls on the exchange. But they collect it and pass it to you as a line item, like sales tax.
Worth knowing: this is a state tax, separate from federal. Moving crypto between your own wallets still isn't a taxable event federally.
Recent public posts from @CoinLedger, shown as published. Not reviewed or endorsed by CryptoReview.
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