The Crypto.com app offers a user-friendly platform for buying, selling, and storing cryptocurrencies using fiat currencies. On the other hand, Crypto.com exchange is a more advanced trading platform that provides features for executing complex trading actions beyond simple buy and sell at the current price.
KoinX simplifies managing crypto taxes, portfolios, and accounting with its easy-to-use automated systems. This enables investors to become more responsible and compliant. KoinX is now the number one tax-calculating platform for crypto users in India.
This post shows an in-depth explanation of how to generate your Crypto.com tax report from KoinX.
A step-by-step guide on how to generate your Crypto.com tax report with KoinX
KoinX allows you to calculate your crypto taxes with ease. Here’s how you integrate it with Crypto.com:
Step 1: Log in to your crypto.com exchange account.
Step 2: On the top right corner, click on the “Dashboard” section.
Step 3: Click on the wallet, and then click on the “Deposits and Withdrawals” section.
Step 4: Select the start and end dates for the time period you want to export data for, and then click on the “Export” button.
Step 5: A CSV file containing your deposit and withdrawal history will be downloaded to your device.
Step 6: In the same dashboard section, click on the “Orders” category.
Step 7: Select the “Trade History” section and enter the start and end dates for the time period you want to export data for.
Step 8: Click on the “Export” button after selecting the dates.
Step 9: A CSV or Excel file containing your trade history will be downloaded to your device.
Step 10: Sign in to your KoinX account.
Step 11: Click on the “Integrations” section in the navigation bar.
Step 12: Select the “Crypto.com Exchange” option.
Step 13: Upload the downloaded CSV files in their respective “Trade History” and “Deposit and Withdrawal” categories.
Step 14: Select the CSV files that need to be uploaded.
Step 15: After uploading the files, hit the “Submit” button.
Take the first step in managing your crypto taxes by watching our tutorial on how to generate your SunCrypto tax report with KoinX and make tax season hassle-free with KoinX.
Important Things to Consider While Generating Your Crypto.com Tax Report with KoinX
- Please note that KoinX currently does not fetch your trades in real-time from Crypto.com Exchange. To ensure that your latest transactions are properly synced, we kindly request that you generate and upload the latest “Trade Reports” following the steps mentioned above. Thank you for your cooperation.
- Please ensure to download the transaction reports since the day you have created your Crypto.com account. This will help us highlight any missing transaction and ensures that your calculations are accurate and complete.
- To avoid any irregularities in calculation of profits, we recommend you to review your imported transactions on our transactions page.
How To Easily Calculate & File Your Crypto.com Taxes using KoinX
Calculating and filing cryptocurrency taxes can be a complicated and time-consuming endeavour. Thankfully, KoinX offers an all-encompassing solution that streamlines the procedure for consumers. KoinX facilitates the calculation and filing of crypto tax returns with minimum effort on your side.
Step 1: Add all the chains and exchanges where you have an account.
KoinX supports a wide range of major crypto exchanges and wallets, which enables anyone to conveniently import all their transaction data, in one place.
Step 2: Review your transactions.
KoinX will automatically categorise all transactions and compute gains and losses accordingly, ensuring 100 percent accuracy and compliance with the latest tax regulations.
Note: If you see warnings in your portfolio, refer to this article to fix the issues.
Step 3: Generate your tax reports for the selected Financial Year
You have the option to categorise your trades as Capital Gains or as Business Income.
If you are trading in crypto as a secondary source of income (like just passively investing for returns) then please select Capital Gains.
If you are trading with the intent of making crypto as your primary source of income, then please select Business Income.
KoinX produces all the essential tax reports while providing a clear breakdown of your crypto tax obligations.
Step 4: File your taxes
Export tax reports directly from KoinX and import them into your preferred tax software, or provide them to your tax professional for swift and hassle-free filing.
The simplified method of KoinX enables consumers to comfortably face the issues of cryptocurrency taxation. You may focus on your assets with confidence while KoinX handles the complications of crypto taxation.
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Using API and Secret Key
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Using CSV Upload
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Frequently Asked Questions
Do I need to report my Crypto.com for tax purposes?
If you have a crypto portfolio, you need to report your profits according to tax laws in your country.
Does Crypto.com provide tax reports?
No, crypto.com doesn’t provide any tax reports. It only provides you with a transaction history, which you can upload to KoinX to calculate your taxes.
How are Crypto.com transactions taxed in India?
In India, Crypto.com transactions are covered under tax jurisdiction, which means a 30% tax on profits and a 1% TDS on all transactions.
How does Crypto.com's tax reporting with KoinX work?
After the Crypto.com and KoinX integration, you are presented with a tax report that gives you a comprehensive overview of the taxes you’re liable to pay on your trades.
What are the most common issues with importing transactions from Crypto.com to KoinX?
Even though the KoinX and Crypto.com integration is seamless, there are instances where you sometimes upload the wrong file or submit the wrong report to KoinX. Try double-checking the file before uploading.
How do I troubleshoot my integration with KoinX?
For any troubles related to integration, you can carefully navigate through the steps once again mentioned in our guide. Alternatively, you can also reach out to us on Twitter or write to us at support@koinx.com.
