ZenLedger provides a cryptocurrency tax software that automates the calculation of capital gains, losses, and tax liabilities for various digital assets, including DeFi and NFTs. This platform enables investors and tax professionals to efficiently manage their tax reporting and filing processes, ensuring compliance with regulatory requirements while minimizing the complexity of cryptocurrency transactions.
Funding
$27.3M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
PCFounders
Product
Problem
Calculating taxes on cryptocurrency, DeFi, and NFT transactions can be complex and time-consuming due to the numerous exchanges, wallets, and protocols involved. Investors and tax professionals often struggle to accurately track cost basis, fair market value, and capital gains/losses, leading to potential compliance issues and overpayment of taxes.
Solution
ZenLedger is a cryptocurrency tax software that simplifies the process of calculating and filing taxes for digital assets. The platform automates the aggregation of transaction data from various exchanges, wallets, and DeFi protocols, and computes capital gains, losses, and tax liabilities. Users can generate tax reports, including Form 8949 and Schedule D, and file their state and federal taxes directly through the platform. ZenLedger supports a wide range of integrations and offers tools such as tax-loss harvesting to help users optimize their tax strategy.
Target Audience
ZenLedger targets cryptocurrency investors, traders, accountants, and CPAs who need an efficient and accurate solution for managing and reporting their digital asset taxes.
Features
- Automated transaction import from over 400 cryptocurrency exchanges, wallets, and DeFi protocols via API or CSV upload
- Support for over 7,000 token types, including ERC-721 NFTs
- Calculation of capital gains and losses using various cost basis methods (e.g., FIFO, LIFO, HIFO)
- Generation of IRS tax forms, including Form 8949 and Schedule D
- Tax-loss harvesting tool to identify opportunities to offset gains with losses
- Integration with tax filing service, enabling users to file federal and state taxes directly through the platform
- Grand Unified Spreadsheet providing a comprehensive view of all transaction details
- Two-factor authentication for enhanced security