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Crypto Tax Software vs Spreadsheet vs Preparer (1099-DA)
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This site provides general information, not tax, legal or financial advice. Consult a qualified tax professional. Last verified against IRS pages: October 17, 2026. Examples use made-up numbers for illustration only.
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Short answer: It depends on volume and complexity. The IRS only requires that you report all income, gains and losses and calculate basis before you file; it doesn't require any product. Here is a plain comparison.
| Software | Spreadsheet | Tax preparer | |
|---|---|---|---|
| Best when | many transactions, several exchanges or wallets | few transactions, one broker, complete 1099-DA | complex situations or you want a professional |
| Main risk | wrong imports, missing transfers, unclear basis method | formula errors, manual work | cost; you still must supply good records |
| You still need | your own records and review | complete exchange exports | records of all accounts |
What to prepare in any case
- Every 1099-DA, plus exports from exchanges that sent none (foreign brokers may not send one).
- Purchase history for assets bought before 2026 (noncovered).
- Transfer records between your accounts.
- A reconciliation of each broker's box 1f total (8949 guide).
Software (Ad)
If you choose software, see the neutral Koinly vs CoinLedger checklist.
FAQ
Can software correct my 1099-DA? No: ask the issuer for a corrected form.
Do I need a preparer? Not required by the IRS; your choice.
What we could not verify
- Vendor features, prices and accuracy; preparer costs.
- Whether any tool supports the final 2026 Form 8949 layout.
Sources
- IRS, Understanding your Form 1099-DA (page updated June 28, 2026) — https://www.irs.gov/businesses/understanding-your-form-1099-da (read October 17, 2026)
- IRS, Instructions for Form 1099-DA (2026) — https://www.irs.gov/instructions/i1099da (read October 17, 2026)
Not tax advice. Examples use made-up figures. Nothing here has been reviewed by a tax professional. We may earn commissions from affiliate links where marked; see the disclosure.