Crypto Taxes done in under 10 Minutes

KoinX is a global crypto tax and accounting platform trusted by over 1.5 million users across 100+ countries. Built for the US market, it automatically imports your transaction history, calculates IRS-compliant capital gains and income, and generates ready-to-file tax reports including Form 8949. KoinX supports individual investors, active traders, and tax professionals filing US federal returns.

KoinX is certified under ISO 27001:2022 and SOC 2 Type II and is fully GDPR compliant, protecting your financial data with enterprise-grade security standards. The platform connects to your exchanges through read-only API access, meaning it cannot move funds or execute trades on your behalf. This means your assets and login credentials remain entirely under your control at all times.

KoinX supports integrations with 800+ exchanges, wallets, and blockchains. Some prominent exchanges include Coinbase, Kraken, Binance.US, and Gemini, as well as DeFi protocols and self-custody wallets. You can connect accounts via API or CSV import, and all transactions across every source are automatically consolidated into a single tax dashboard.

Yes. KoinX generates an IRS Form 8949 report listing every crypto disposal with the exact columns required by the IRS, including description, date acquired, date sold, proceeds, cost basis, and gain or loss. Transactions are automatically split into short-term and long-term sections, making it straightforward to transfer totals to Schedule D when filing your federal tax return.

Yes. KoinX generates a dedicated TurboTax Gain-Loss Report as a CSV file formatted for direct import into TurboTax. Download the file from your KoinX dashboard, navigate to “Investment Income” in TurboTax, and upload the CSV. TurboTax will then automatically populate Schedule D with your short-term and long-term capital gains, removing the need to enter each transaction manually.

Yes. The KoinX Complete Tax Report for US users consolidates your short-term and long-term capital gains summary, derivatives income from futures and options, income events such as staking and airdrops, Form 8949 data, asset-wise profit and loss, and beginning and end of year balances into a single document your CPA can review and use for filing.

KoinX supports all IRS-accepted cost basis methods for US users: FIFO (First In, First Out), LIFO (Last In, First Out), HIFO (Highest In, First Out), and Specific Identification. In line with IRS Rev. Proc. 2024-28, KoinX applies these methods at the wallet level, ensuring your transaction records meet current IRS cost-tracking requirements for accurate federal reporting.

Yes. KoinX provides tax optimization insights that help US investors identify unrealised losses across their portfolio. These insights help you spot assets that could be disposed of before the tax year ends to offset capital gains. Since the IRS allows crypto losses to offset gains from other assets with no annual cap, this can meaningfully reduce your federal tax bill.

The IRS classifies cryptocurrency as property under IRS Notice 2014-21, not as currency. This means every sale, trade, or spending of crypto is a taxable disposal subject to capital gains tax. Crypto received through mining, staking, airdrops, or as salary is taxed as ordinary income at your applicable federal income tax rate on the day of receipt.

Short-term capital gains apply to crypto held for 12 months or less and are taxed at ordinary income rates ranging from 10% to 37%. Long-term capital gains apply to crypto held for more than 12 months and are taxed at reduced rates of 0%, 15%, or 20%, depending on your total income for the year.

Yes. The IRS taxes NFTs under the same rules that apply to other crypto assets. Buying an NFT with cryptocurrency is a taxable disposal of the crypto used. Selling or trading an NFT triggers capital gains tax on any profit. Some NFTs may qualify as collectibles, attracting a higher long-term capital gains rate of up to 28%.

Several IRS-compliant strategies can reduce your crypto tax liability. Holding assets for more than 12 months qualifies you for lower long-term capital gains rates. Selling crypto at a loss can offset your capital gains and reduce up to $3,000 of your taxable income each year. Donating crypto to a qualified 501(c)(3) charity is fully tax-deductible at the asset's fair market value on the donation date.

Yes. The IRS allows crypto losses to offset capital gains from any asset with no annual limit on the amount. If total capital losses exceed your gains for the year, you can deduct up to $3,000 of the remaining loss against your ordinary income. Any unused losses beyond that amount carry forward to future tax years until fully used.

US taxpayers must report crypto disposals on Form 8949 and summarise totals on Schedule D. Crypto income from staking, airdrops, or freelance payments is reported on Schedule 1 or Schedule C, depending on whether it is business income. All taxpayers must also answer the digital asset question on Form 1040, even if no taxable crypto activity occurred during the year.