Table of Contents:
What is Crypto.com Tax?
Crypto.com Tax offers the following:
Full integration with popular exchanges & wallets and an easy-to-use interface that gets the job done in no time.
The first crypto tax online tool in the market that is entirely free for anyone who needs to prepare their crypto taxes. No matter how many transactions you have in the past years, we’ll handle the calculation for you at no cost.
An extremely simple and intuitive interface aiming to create the best user experience when dealing with tax matters. All results are transparent for review prior to getting your final results generated.
How do I sign up to be a Crypto.com Tax user?
You can sign up using your email address or Google account on the landing page below. You don’t need to be a Crypto.com user - in fact, we are bringing this service to every retail user to make your life easier!
Which documents are required?
You need to have the details of your cryptocurrency transactions across all your exchange/wallet accounts since the time you acquired your first coin. In order for us to generate the correct results, the entire transaction history must be in place to reflect the correct cost basis. You can refer to this article on how to import your transaction data into our tax tool.
What are the steps to prepare my tax reports?
Step 1: Register your account in Crypto.com Tax
Step 2: Select the tax settings you’d like to generate your tax reports. You may refer to this section on how to set up your tax settings page.
Step 3: Go to the Wallets & Exchanges page and import your transactions by the following methods:
API synchronization with the supported wallets/exchanges
Import the CSV file exported from our supported wallets/exchanges
Blockchain synchronization by inputting a public address/key
Import our Generic CSV Template
Go to the Transactions page and manually add your transactions
Step 4: Review your tax calculation on the Transactions page, and make amendments if necessary. You can also click on each transaction to view the calculation in detail. You may refer to this article on how to edit a transaction.
Step 5: Generate tax reports below on the Tax Reports page:
Capital gains/losses CSV file, including the number of Proceeds, Cost basis, Selling expense, and Capital gain/loss
Transaction history CSV file to keep books and records
Income report to keep track of cryptocurrency you received
Gifts, donations & payments report keeping records of all cryptocurrency you sent
Expenses report keeping track of particular fee charges (e.g. gas fee from failed transactions)
Step 6: You may use the information in the downloaded tax reports to prepare your official tax forms
How do I ensure my tax reports are accurate?
Add all wallets and transactions
To get an accurate tax report, it is important to add all your wallets and transactions. A complete transaction history, it allows Crypto.com Tax to record the correct cost basis of your crypto and ensure the transfer transactions can be matched.
You may start with the “Send” and “Receive” transactions that you believe should be matched as “Transfer”. For more details on transfer transactions, you may refer to this article. You can also check on those transactions with unreasonably high gains and see if the market price/cost basis is correctly recorded. You may refer to this article for more details on capital gains.
Review error messages
After importing your transactions, you may find some error messages on the Transactions page. You may review those error messages and refer to this article on how to solve them.
Frequently Asked Questions
How do I set up my "Tax Settings" page?
You will need to choose the country where you are filing your taxes in. It allows Crypto.com Tax to generate tax reports applicable to the tax rules of your jurisdiction. Please note that the "Set Net Worth" amount of all imported transactions would be cleared after you switch to another jurisdiction.
We have restricted your choice here to be the currency of your tax jurisdiction. This base currency will be used throughout your tax calculation and tax reports. For transactions that are not in your base currency, we will automatically convert them into your base currency. You may refer to this article on the foreign exchange rate we used.
Cost basis method
The cost basis method varies based on your tax jurisdiction. We have therefore restricted your choice here. For countries allowing more options on cost basis method (e.g. New Zealand), you may consult your tax advisor on your choice. Please note that the cost basis method you chose here would be used throughout your tax calculation.
How do I read my "Overview" page?
Capital gains section
This section will show your total proceeds, cost, and capital gains/losses for all taxable events.
Proceeds: sum of all proceeds, valued at the time of disposal
Cost: cost basis of all crypto being disposed
Transaction fee: transaction fees on all taxable events with capital gains/losses
Net proceeds: sum of proceeds net with transaction fee
(Capital) Gains/Losses: sum of all capital gains/losses calculated on taxable events
This section will show your total income received for both taxable and non-taxable events.
Taxable: an overview of all taxable "Income" transactions
Non-taxable: an overview of all non-taxable "Income" transactions
Uncategorized: all "Income" transactions with unknown nature
Reversal: reversal of income with rebates reverted
This section will show an overview of the most recent 5 transactions. You can see all your imported transactions by clicking “See All” at the bottom.
Which currencies are supported?
Crypto.com Tax currently supports more than 10,000 cryptocurrencies listed on CoinGecko. Our team is watching the market closely with new cryptocurrency support being added periodically.
Which exchanges/wallets are supported?
We offer native support for the most popular exchanges/wallets in the supporting jurisdictions including the following:
Binance Smart Chain (BSC)
We’re working on expanding our service to other jurisdictions and adding more support for wallets/exchanges throughout the world. If we currently don’t support your account, you can still import data through our Generic CSV Template.
Which countries are supported?
Crypto.com Tax currently supports the following jurisdictions: Australia, Austria, Canada, Denmark, Finland, New Zealand, Norway, Spain, the United Kingdom, and the United States. We are working on adding more functionality to expand our service to more jurisdictions. We welcome your feedback and ideas to make our products better.
Disclaimer: You acknowledge and agree that information provided by Crypto.com to you in your use of the Crypto.com Tax Services is for your reference only and should not be considered a substitute for legal advice, tax advice, audit advice, accounting advice, or brokerage advice under the guidance of a licensed professional. Further, the information provided herein should not be taken as financial planning or investment solicitation. You acknowledge and agree that no fiduciary relationship has been created between you and Crypto.com. You hereby understand and acknowledge that by using Crypto.com Tax Services, you are not being represented by a legal advisor, certified financial planner, tax professional, broker, other regulated advisors, or similar capacity.
There may be instances where you will be able to manually input information about your transactions. You acknowledge that you are solely responsible for any and all information entered and Crypto.com is not responsible for any information inputted incorrectly. Crypto.com makes no warranties as to the reliability or accuracy, completeness, or quality of any information you obtain through the Services.
This FAQ page is intended to be read in conjunction with the Crypto.com Tax Terms of Services.