# Cryptocurrency Tax Software Breakdown

By [sadChile2](https://paragraph.com/@sadchile2) · 2022-04-09

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The DRIP system uses the term “taxes” to refer to fees that are paid for transactions involving the contract. However, we also have governments that require us to pay taxes. For many years, I’ve used an online software program (Gainskeeper) to help me with my IRS requirements for stock/bond/option trading and filling out the intimidating Schedule D and Form 8949 combination. I knew that I would need something similar for taxes on crypto gains. This evaluation is about meeting my personal needs for crypto tax software. That includes DRIP and other DeFi sites as well as BlockFi and other centralized sites. I chose Koinly but you may find that others meet your individual needs better. Note that I did this evaluation in November of 2021 so things (such as prices and features) might have changed since then. Also, my evaluation is a stream of thoughts that I had as I investigated each system. I didn’t try to follow a specific pattern or comparison method. With all that said, here are my thoughts.

I chose Koinly because it met my needs which were dominated by the need to handle government taxes for DRIP in the United States. However, there were other solid choices such as CoinTracking. I hope these notes help you in your search for the right crypto tax software, especially if you are in DRIP. And why wouldn’t you be in DRIP?

You’re set up on DRIP. Get ready to receive 1% daily!

Here are a few more link to information on the DRIP ecosystem.

DRIP Lightpaper — [https://drip.community/docs/DRIP\_LIGHTPAPER\_v0.8\_Lit\_Version.pdf](https://drip.community/docs/DRIP_LIGHTPAPER_v0.8_Lit_Version.pdf)

DRIP Contract — [https://bscscan.com/token/0x20f663cea80face82acdfa3aae6862d246ce0333](https://bscscan.com/token/0x20f663cea80face82acdfa3aae6862d246ce0333)

Buy BR34P: [https://v1exchange.pancakeswap.finance/#/swap?outputCurrency=0xa86d305A36cDB815af991834B46aD3d7FbB38523](https://v1exchange.pancakeswap.finance/#/swap?outputCurrency=0xa86d305A36cDB815af991834B46aD3d7FbB38523)

NOTE: The amount Deposited is not withdrawable. In exchange you receive 1% of that staked amount on a 24 hr basis for the next 365 days, which can be rehydrated/re-compounded, or claimed.

New Contract (“v4”): [https://bscscan.com/address/0xa38e0b7da56227bd9ba1ccf1ff7d23aba4807158#code](https://bscscan.com/address/0xa38e0b7da56227bd9ba1ccf1ff7d23aba4807158#code)

Note that this article should not be counted as financial advice. Please do your own research before investing in anything, including DRIP.

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*Originally published on [sadChile2](https://paragraph.com/@sadchile2/cryptocurrency-tax-software-breakdown)*