TokenTaxReviews of tokentax.co

I signed up for the VIP plan in December last year because I wanted to do my taxes as fast as possible. Also, my crypto activity is somewhat large, though it has nothing complicated. I didn't use complex stuff like Defi, yields, NFT, and other stuff. But I have a large amount in general. So I wanted correct calculations to ensure I paid the right amount. They failed to deliver by April. They didn't even start by then, though I specifically paid for VIP. And today is October 17th, and they still didn't provide the result. But the main problem is that they don't understand blockchain tech. As a tech guy, I pointed to the mistakes that they wouldn't recognize otherwise, but I don't know what non-tech people would do. In general, their system is very basic, lacks all the standard stuff, and provides wrong results, so you must double-check everything with Excel. To my understanding, they specialize in simple operations, like exchanges on Coinbase, and have very limited support and understanding of the on-chain operations. Take this into consideration. The other stuff they promised for the VIP plan doesn't exist. Like they promise consultations with a tax expert, chat support, reports, etc. Nothing like that was provided. UPDATE: So they answered here. With a just attack on me, and most of the things they said are lies. Anyway, at least they confirmed everything in my review. Also, they phoned me personally and said they would report me to IRS for an audit because I left a bad review. So beware.

Frustrated with this site. Cost basis missing even when all coins are fully accounted for. Deleting and restarting API data is loading for 1/2 of the year, where it was fine before. I wish I had saved $200, I cant get the thing to work. I know it doesnt work because it works on other sites with access to the same data. Taxes are due, and I am forced to use a different service (starts with a k...ends with an oinly). Id like to get my money back.

I purchased a subscription for tokentax in 2021. It did not work at all for me. Anytime I would recalculate my gains for 2020 I would get a different result (I even got once a loss for the same year while it was obviously not true). I spoke to customer service but it didn't help.

No refunds. Think about that. They got me this year for $200. That won’t happen again. All a tax preparer needs are the csv files that you download for free from every exchange, which you will need for tokentax anyways. They do NOT have many exchanges set up for direct import. You are going to do all the work anyway, and TT takes weekends off, and seems to be running a VERY lean company. They are nice, but that only goes so far.

Total ripoff, after spending $200, they want another $200. So I've spent money with no useful product given. No refunds allowed. Than I find that Crypto.com is doing the same for FREE!!!

Their software is hopeless & buggy. I have the $199 package. The TL;DNR version is the software is buggy. API downloads from basic sites like CoinBase don't work correctly. Finally their "Live Customer Service" isn't live. It mostly took them 18-24 hours to respond to inquiries. I've tried to work with their customer service for several days with very little progress. I complained that it was not working and asked for a refund. I was told their policy was not to offer refunds. 1. It is buggy under multiple browsers on an iPad. Filter buttons don't work. It gets in weird states and won't display the page tab buttons, so you can only see a single page. There are numerous other UI bugs. These make it unusable on anything other than a laptop. It is web based, but I have not been able to locate any mention on heir site that it only works on laptops and desktops. 2. It has multiple import errors using the API for CoinBase. Coinbase is the single most widely used crypto currency site. As a bare minimum it should be expected to work with CoinBase. It failed to import an entire range of 20+ interest/staking transactions. It also incorrectly imported the rewards from CoinBase, marking them as the wrong type of transaction. Of course this results in multiple error warnings and faulty calculations. The customer service person knew of this as an long-existing problem. I had to delete the API files and reload data manually through a CSV. Needless to say automatic sync doesn't work now. 3. It has multiple problems calculating tax basis correctly. This results in many, many transactions with a zero basis which messes up capital gains calculations. It appears their tax-lot algorithm is buggy. 4. They state that they correctly work with many DeFi platforms. They specifically site UniSwap, SushiSwap & Balancer. Yet, I have dozens of import errors involving each of these platforms. 5. I have the $199 package which is supposed to include "Live Customer Support" via Intercom. Their live customer service isn't actually live. You leave a message on the messaging software and wait 18-24hrs for a response. Even then they often provided only vague answers, or failed to address all the questions. It's then another 24 hour wait to get more information. I get the impression that they may only have a single customer service rep (Isaac). 6. At some point in my efforts, one of the download files became corrupted in some fashion. Suddenly every WETH transaction was giving a zero basis error. Fine, I'll just delete the file and re-upload it. This didn't help...all the bogus errors are still there. Next I deleted everything, ALL of my exchange and wallet files. When I went back I was shocked to see that everything in the error files had persisted. There was absolutely no data in the transaction screen, but all the error messages were still there. All of the capital gains data was still there. All of the income and expense data still displayed. All the query functionality still worked. All the editing features still worked. Every link to Etherscan was there. Clearly they didn't actually delete anything, they just disabled the display functionality on the transactions page. 7. Their help files are very vague. For instance they do an excellent job describing what a zero-basis error is. They described many scenarios where one might happen. They don't actually tell you how to repair any of them, or even offer a few examples. I wasn't able to find any sort of tutorials or specific guidance for fixing other problems either. 8. I've spent 20+ hours this week trying to resolve the various problems. I gave up and asked how to delete my account and get a refund. This proved to be a final nail in their coffin. Unlike their competitors, it turns out they don't offer refunds. Unfortunately this little piece of information is buried 3 screens down. I had to google it in order to find this out. No inspection was unlikely to find it, without using a search engine. In summary the product is buggy. It doesn't download data correctly from the most basic of sites, like CoinBase. It doesn't handle DeFi well at all. Despite saying they provided full support on sites like UniSwap, Balancer & SushiSwap I experienced numerous download and tax basis errors for each of these. It is mostly non-functional, with numerous UI bugs. Their "live" customer support isn't actually live. It mostly takes 18-24 hours to receive a response. Wat support I did receive was terrible. I have made no progress getting the software to operate correctly. It is unusable. UPDATE: They are trying VERY hard to fix this. Which is great. My chief complaint is that they are doing all the work, rather than telling me how. Apparently an entire range of errors happened after their system logged a trade of AMP/WETH as AMP/ETH.

Worst ever crypto tax company I have experienced. Their customer care sucks. They don’t listen to your needs and use misinformation to sell their products. Beware that they will only provide 1 tax form instead of the whole bundle of 3 that is required to file your crypto tax in the US. If you want more forms they will push you to buy their tax services. Don’t waste your money with them. I wish I can give them a negative points here. Reply to Token Tax: If you have any intention to help someone then you should just refund the money for not providing satisfactory services instead of that your staff is justifying that the customer is wrong and you are correct. I am sorry but this is not how you satisfy your customer. Your competitors are providing all 3 forms and have better service too. So good luck. You can fool us once but we will realize and stop using your services and product as better one is available. Poor quality product don’t buy it.