How do I file tax reporting for my crypto trading on RocketX?

Created by RocketX Support, Modified on Mon, 16 Sep at 9:19 PM by RocketX Support

You can use our tax reporting partners Koinly/Kryptos for your tax reporting needs.  Please find the links below:


Kryptos: 


Website: https://app.kryptos.io

Help Center: https://support.helpdesk.kryptos.io/servicedesk/customer/portals


Koinly:


Website: https://app.koinly.io

Help Center: https://support.koinly.io/en


Note for Koinly:

In order to import your trades to Koinly, you would simply add your public address for each of the chains that you have used (i.e.. create an ETH wallet, a MATIC wallet, etc.). Koinly will then sync all transactions for your address and calculate your tax reports. Trades that take place on a single blockchain will be handled automatically. However, trades that are cross-chain will need to be merged manually by the user in order to be 100% accurate. For example, if the user spends ETH on Ethereum and receives MATIC on Polygon, then they would need to select these two transactions on Koinly and click on the 'Merge' button in order to merge them into a single 'Trade' transaction. The impact for not merging these trades is very small though, as the main difference is that the fee paid will not be captured, resulting in slightly inflated capital gains. If you need further support, please contact Koinly's customer support directly via the Help Center link above.


In case of any further support please reach out to the respective support desk.


Please also note that it's always better to consult a tax professional in your region before filing taxes in order to be fully complaint with regional laws in your country.


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