Transaction

Everything regarding the types of transactions we support and instructions on how to edit a transaction

Valery avatar
Written by Valery
Updated over a week ago

General Information

What transactions are supported?

Crypto.com Tax currently supports transaction types listed below.

  1. Buy/Sell - exchange fiat currency with another cryptocurrency, vice versa

  2. Trade - trade/exchange one cryptocurrency with another

  3. Send cryptocurrency to others:

    • Payment - send cryptocurrency for goods or service

    • Gift - send cryptocurrency as a gift

    • Donation - send cryptocurrency to charities

    • Reversal - the reversal of the corresponding income (more details set out in this article)

  4. Receive cryptocurrency from others:

    • Gift - receive cryptocurrency from others as a gift

    • Fork - receive cryptocurrency after a blockchain split

    • Airdrop - receive cryptocurrency from an airdrop

    • Mining - receive cryptocurrency from mining

    • Payment - receive cryptocurrency as salary

    • Rebate - receive cryptocurrency due to staking/card rebate

    • Reward - receive cryptocurrency as rewards (e.g. staking/earn rewards, referral bonus, etc.)

  5. Transfer - moving cryptocurrency between your own accounts

  6. Swap - converting a cryptocurrency to another one

  7. Cost - fee charges not linked to a completed transaction (e.g. gas fee charged on the incomplete transaction)

  8. Liquidity In - sending funds to a liquidity pool in DeFi protocols

  9. Liquidity Out - removing funds from a liquidity pool in DeFi protocols

  10. NFT transactions cover the above transaction types including:

    • Trade - exchange NFT with cryptocurrency

    • Transfer - moving NFT between your own accounts

    • Send NFT to others

    • Receive NFT from others

Note that Crypto.com Tax does not support transactions purely in fiat currency as these transactions are not required for calculating your taxes.

How do I edit an existing transaction?

As API requirements or CSV format from each wallet/exchange are prone to change, there will be cases where transactions are not imported as expected. If you spot an error that doesn’t match your transaction record, please click the 3 dots menu on the right-hand side of the problematic transaction, and click Edit to update the transaction details.

However, if you spot an error in the tax calculation, please contact us via the chat button at the bottom right corner or send us an email at [email protected], and our support team will get back to you as soon as possible.

How do I manually add a new transaction?

To add a new transaction, you can do it in 2 different ways by following the steps below.

  • Add from the wallets/exchanges overview page

Step 1: Go to the Wallets & Exchanges page and locate the wallet/exchange where you’d like to add the transaction

Step 2: Click Action, and choose Add Manual Transaction

Step 3: You’ll be taken to the page where you can add the transaction

  • Add from the transactions overview page

Step 1: Go to the Transactions page

Step 2: Click Add Transaction +

Step 3: You’ll be taken to the page where you can add the transaction

How do I merge 2 transactions into 1 “Transfer” transaction?

After importing your transactions, you may find the “Transfer” transaction is being split into a “Send” transaction and a “Receive” transaction. You can manually merge the two transactions into one “Transfer” transaction by following the steps below.

Step 1: Go to the Transactions page

Step 2: Check both “Send” transaction and “Receive” transaction and click Merge Transfer in the bottom panel

Step 3: Review the details of the Merge Transaction and click Yes, Merge Transaction

Note that this action can only be performed if the below conditions are satisfied:

  • Same token in the two transactions

  • The date and time of the “Send” transaction are before that of the “Receive” transaction

  • The received amount is at most 20% less than the sent amount, as the transaction fee is usually less than 20%

  • Two transactions are within 12 hours of each other

How do I change liquidity transactions as taxable?

Liquidity transactions are not subject to Capital Gains Tax by default in Crypto.com Tax. However, if you consider the liquidity transactions to be taxable, you can go to the Settings page and turn on the “Realize gains on liquidity transactions” toggle.

How is the market price determined for cryptocurrencies?

We use market price data from CoinGecko to determine the token price for each supported cryptocurrency. The rates will be fetched from the price API of CoinGecko given at 00:00 am UTC on that particular day. If for some reason the rate is not available, we’ll assume the cost basis (i.e. token price) is 0 and display an error message of “Missing the rate”. You may refer to this article on how to solve it.

How do I add a custom token?

While Crypto.com Tax currently supports more than 10,000 cryptocurrencies listed on CoinGecko, it’s still possible that tokens of your transactions are not supported by us. In order to generate an accurate tax report, it’s important to add all your transactions so that the correct cost basis and result for tax reporting is recorded.

You can therefore add a custom token for these transactions by following steps below.

Step 1: Click your profile at the top right and go to the Settings page

Step 2: Click on the Custom Token tab

Step 3: Click Add Custom Token +

Step 4: Input the Name, Symbol and Description of your token, then click Add

Once you’ve created your custom token, you can now add transactions for the custom token. You may refer to this article on how to manually add a transaction.

Note that Crypto.com Tax does not provide pricing data for custom tokens. When you add a transaction for custom tokens, you have to manually record its value by clicking Set Net Worth.

What is the foreign exchange rate used for transactions if transactions are not in my base currency?

For transactions after January 1st, 2020, we refer to the internal live exchange rate API prepared by our internal data team. Whilst for transactions prior to 2020, we use the exchange rate from currency layer API. If you find any rate that is very off from your understanding, please contact us via the chat button at the bottom right corner, or report the bug at [email protected].

What if I cannot find the tokens of my transactions when adding/editing transactions?

When you add/edit your transaction on the Transactions page, it is possible that you cannot find the respective token in the dropdown menu of currency. You can now add the custom token by clicking + Custom Token at the bottom of the dropdown menu. It will then refer you to the Settings page for custom token. You may refer to this article on how to add a custom token.

What if I don’t find the currency price/foreign exchange rate correct?

If the rate is totally different from your understanding, please report the bug via the chat button at the bottom right corner, or contact us at [email protected].

Note that if you make a transaction on a date where the rate fluctuated wildly, you might find our price/rate inaccurate. In that case, you can use the Set Net Worth function to update the price/rate for your crypto/fiat currency. You can access that function by clicking the 3 dots menu on the right-hand side of a transaction, and then click Edit to override the price/rate we used.

Frequently Asked Questions

How do I exclude the tax calculation for specific transactions?

Step 1: Go to the Transactions page

Step 2: Click the 3 dots menu on the right-hand side of each transaction

Step 3: Click Ignore to exclude transactions from the tax calculation

Step 4: Click Restore if you’d like to restore those ignored transactions

How do I perform an action on multiple transactions?

Step 1: Go to the Transactions page

Step 2: Select multiple transactions by checking the box on the left-hand side of the transactions

Step 3: Select actions below on multiple transactions in the bottom panel:

  • Delete transactions

  • Ignore transactions

  • Restore ignored transactions

What should I do if I see the transactions of “Send - Reversal”?

You will see “Send - Reversal” transactions when there is a reversal of income (e.g. card cashback reverted). Please manually adjust the “Send - Reversal” transactions by following the steps below:

Step 1: Go to the Transactions page, and look for the previous income transaction that the reversal is made

Step 2: Click the 3 dots menu and then Edit on the right-hand side of the respective income transaction

Step 3: Update the Amount Received by deducting the reversal amount from the corresponding income

Step 4: Remove the “Send - Reversal” transaction by clicking the 3 dots menu and then Delete on the right-hand side of the transaction

For example, you now have a new “Send -Reversal” transaction of USD10 due to the card cashback. Since the income of card cashback should be previously recorded as a “Receive - Reward” transaction, you should deduct the USD10 from the corresponding “Receive - Reward” transaction amount. You can then remove the “Send - Reversal” transaction from the Transactions page.

Why is there a gain/loss on Cost transactions?

After importing your data, you will see “Cost” transactions in your transactions overview page if there are any expenses incurred when the blockchain transactions are approved, failed, or canceled (e.g. gas fee is charged when a blockchain transaction is failed).

A capital gain may be recognized even though you are simply paying for the cost. This is because a “Cost” transaction is similar to selling crypto. When you pay for the cost (e.g. 0.1 ETH) on the blockchain, you are technically disposing of the crypto in your wallets to pay for the cost. Once there’s a disposal of crypto, capital gain/loss will be calculated for the disposition.

Why are internal transfers between my own wallets showing a gain/loss?

When you see a gain/loss being recognized in your internal transfer transactions, this is probably because Crypto.com Tax did not match your transactions into a “Transfer” transaction. This may happen when one side of the transfer is missing or on the wrong date. The transfer is therefore being split and recorded as normal “Send” and “Receive” transactions. In order to fix this issue, you may refer to this article to manually merge the transactions as a Transfer.

Why are there duplicate transactions for transfers from Crypto.com Exchange to Crypto.com App?

You may find duplicate transactions for a transfer transaction between your own accounts in Crypto.com Exchange and Crypto.com App. This internal transfer is split as a “Send” transaction in Crypto.com Exchange and a “Transfer” transaction in Crypto.com App.

Please follow the below steps to delete duplicate transactions and also correct the sending and receiving wallets/exchanges for the internal transfer from Crypto.com Exchange to App:

Step 1: Go to the Transactions page and Delete the “Send” transaction from Crypto.com Exchange by clicking the 3 dots menu on the right-hand side.

Step 2: Edit the “Transfer” transaction from Crypto.com App by clicking the 3 dots menu.

Step 3: Select “Crypto.com Exchange” as the sending exchange and “Crypto.com App” as the receiving wallet, and then click Save

How are transaction fees being handled?

You may see "Fee" or "Selling expense" on our transactions overview page/tax reports. These transaction fees are associated with your crypto transactions and are different from the "Cost" transactions mentioned in this section.

The transaction fees will be added to the cost basis of coins or net with proceeds depending on the tax regulation of your jurisdiction. In general, a capital gain/loss will be recognized on the transaction fee itself if it is paid in crypto. This is similar to the sale of crypto where you dispose of the crypto in your wallets to pay for the transaction fees.

Can I edit my liquidity transactions?

Yes. You may set the net worth & fees for your liquidity transactions. However, other fields e.g. Amount Bought/Sold, currency, etc. cannot be edited and would be grayed out at this stage.

Which decentralized exchanges are supported for liquidity transactions?

We support only Uniswap (V2), Sushiswap, Shibaswap, PancakeSwap, Biswap, and Crypto.com DeFi Swap. Liquidity transactions of other decentralized exchanges or DeFi protocols are skipped.

Can I manually add a NFT transaction?

To manually add a NFT transaction, you should first add your NFT as a custom token. We suggest you provide the NFT name when adding a custom token to distinguish different NFTs and avoid duplicate transactions. You may refer to this article on how to add a custom token.

After adding your NFT as a custom token, you can now add a new transaction by choosing the respective NFT in the Amount Sold/Bought field. You may refer to this article on how to manually add a new transaction.

Can I edit my NFT transactions?

Yes. You may Set Net Worth and add comments for your NFT transactions. For transactions under Send/Receive type, you may also edit Category for the transactions.

However, other fields cannot be edited and would be grayed out at this stage, including Date & Time, Wallet/Exchange, Currency, Amount Bought/Sold/Sent/Received/Transferred and Fee amount.

What should I do if I receive multiple NFTs in one transaction?

If you receive multiple NFTs in one transaction, the NFTs received would be recorded as separate transactions with zero cost basis. In that case, you can use the Set Net Worth function to update the cost of your NFTs. You may refer to this article on how to update net worth for your transactions.

Can I merge two transactions into one Transfer transaction for NFT?

Yes. After importing your NFT transactions, you may find your “Transfer” transaction for NFT is being split into a “Send” transaction and a “Receive” transaction. You may refer to this article on how to manually merge the two transactions into a “Transfer” transaction.

What should I do if I find my transactions in LUNA or LUNC are mismapped?

Given Terra 2.0 was officially released on 05/28/2022 where the old LUNA was renamed as LUNA Classic (LUNC) and the new LUNA remains as LUNA, we determine the relevant transactions based on the official release date.

For Crypto.com App users, if you have a “Conversion” transaction of LUNA into LUNC, please click the 3 dots menu and then Ignore on the right-hand side of the transaction on the Transactions page because we already swapped the 2 cryptocurrencies for you.

However, some exchanges might not follow the official release date for the Terra 2.0 Update, resulting in mismapping between LUNC and LUNA. Please click the 3 dots menu and then Edit on the right-hand side of the transaction, and then you can re-select the cryptocurrency from LUNA to LUNC in the edit transaction page.

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 advisor, 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.

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