Best Crypto Tools for TurboTax

Summ, previously known as Crypto Tax Calculator, is an advanced platform for managing cryptocurrency taxes and portfolio tracking that caters to users with portfolios that extend beyond simple trading on exchanges. Its sophisticated reconciliation engine interfaces with over 3,500 exchanges, wallets, and blockchains, offering extensive on-chain support for decentralized finance (DeFi) protocols, decentralized exchanges (DEXs), non-fungible tokens (NFTs), bridges, staking, airdrops, and intricate multi-chain transactions. Whenever data gaps or inconsistencies arise, Summ promptly detects any irregularities, ensuring that every number in a report is justifiable and verifiable. By synchronizing activities from various sources, Summ generates concise and transparent reports that are reliable when scrutiny is required. Key features include the Least Tax First Out (LIFO) algorithm, reconciliation for 1099-DA forms, opportunities for tax loss harvesting, and documentation prepared for audits. The platform seamlessly integrates with TurboTax, Xero, and QuickBooks, and holds a SOC 2 Type 2 certification. Users can start with free portfolio tracking upon registration, while premium plans offer comprehensive reporting customized to specific jurisdictions. It is suitable for casual investors, active DeFi participants, accounting experts, and businesses alike.