How to Do Your eToro Taxes

How To Do Your eToro Taxes

CoinLedger imports eToro data for easy tax reporting. Create the appropriate tax forms to submit to your tax authority.

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eToro Tax Reporting

You can generate your gains, losses, and income tax reports from your eToro investing activity by connecting your account with CoinLedger. Connect your account by importing your data through the method discussed below.

eToro exports a complete Transaction History file to all users. Simply navigate to your eToro account and download your transaction history from the platform.
Import your transaction history directly into CoinLedger. Import the file as is. No manual work is required!
CoinLedger automatically generates your gains, losses, and income tax reports based on this data.

File these crypto tax forms yourself, send them to your tax professional, or import them into your preferred tax filing software like TurboTax or TaxAct.

eToro Tax Reporting

eToro supports importing data via read-only API. This allows automatic import capability so no manual work is required.
Connect CoinLedger to your eToro account with the read-only API.
Let CoinLedger import your data and automatically generate your gains, losses, and income tax reports.

File these crypto tax forms yourself, send them to your tax professional, or import them into your preferred tax filing software like TurboTax or TaxAct.

eToro Tax Reporting

You can generate your gains, losses, and income tax reports from your eToro investing activity by connecting your account with CoinLedger. There are a couple different ways to connect your account and import your data:

Automatically sync your eToro account with CoinLedger via read-only API. This allows your transactions to be imported with the click of a button.
Upload your eToro Transaction History CSV file to CoinLedger. You can download your Transaction History CSV directly from eToro and import it into CoinLedger

Both methods will enable you to import your transaction history and generate your necessary crypto tax forms in minutes. File these forms yourself, send them to your tax professional, or import them into your preferred tax filing software like TurboTax or TaxAct.

eToro Tax Reporting

Automatically sync your eToro account with CoinLedger by entering your public wallet address. This allows your transactions to be read in directly from the blockchain.
Upload a eToro Transaction History CSV file to CoinLedger

eToro Tax Reporting

Navigate to your eToro account and find the option for downloading your complete transaction history.
Import your transaction history directly into CoinLedger by mapping the data into the preferred CSV file format.
CoinLedger automatically generates your gains, losses, and income tax reports based on this data.

File these crypto tax forms yourself, send them to your tax professional, or import them into your preferred tax filing software like TurboTax or TaxAct.

How Cryptocurrency Taxes Work

Cryptocurrencies like bitcoin are treated as property by many governments around the world—including the U.S. Other forms of property that you may be familiar with include stocks, bonds, and real-estate.

Just like these other forms of property, cryptocurrencies are subject to capital gains and losses rules, and you need to report your gains, losses, and income generated from your crypto investments on your taxes.

For a complete and in-depth overview, please refer to our Complete Guide to Cryptocurrency Taxes.

How To Do Your Crypto Taxes

To do your cryptocurrency taxes, you need to calculate your gains, losses, and income from your cryptocurrency investments in your home fiat currency (e.g. US Dollar, Australian Dollar, etc.).

Once you have your calculations, you can fill out the necessary tax forms required by your country. If you are in the United States, you can learn which forms you need to fill out with our blog post: How to Report Cryptocurrency On Your Taxes.

Why Can't eToro Generate My Tax Forms?

Many cryptocurrency investors use additional exchanges, wallets, and platforms outside of eToro. Perhaps you also trade on Coinbase or earn interest from BlockFi. The trouble with eToro's reporting is that it only extends as far as the eToro platform. If you use additional cryptocurrency wallets, exchanges, DeFi protocols, or other platforms outside of eToro, eToro can't provide complete gains, losses, and income tax information.

How Does Cryptocurrency Tax Software Help?

By integrating with all of your cryptocurrency platforms and consolidating your crypto data, CoinLedger’s cryptocurrency tax software and crypto portfolio tracker are able to track your profits, losses, income, and generate accurate tax reports in a matter of minutes.

You can test out the software and generate a preview of your gains and losses completely for free by creating an account.

Learn more about how CoinLedger works here.

Are you confused on how to file your eToro taxes?

You’re not alone. Cryptocurrency tax reporting can feel overwhelming, even for investors with years of experience.

In this guide, we’ll share everything you need to know on how to file your eToro taxes. We’ll cover the basics of cryptocurrency taxation and walk through a simple process that can help you file your eToro taxes in minutes.

What is eToro?

eToro was founded in 2007 by Ronen Assia, Yoni Assia, and David Ring. Currently, the platform allows users to trade and invest in different types of assets including stocks, ETFs, and cryptocurrencies.

eToro bills itself as a social investment platform, allowing users to mirror the transactions of successful traders. Currently, the platform has more than 25 million users worldwide.

How are my cryptocurrency transactions on eToro taxed?

Cryptocurrency is subject to capital gains and income tax.

For more information, check out our complete guide to cryptocurrency taxes.

Does eToro issue tax forms?

Currently, eToro issues Form 1099-MISC to customers who earn more than $600 of income during a tax year.

eToro also issues 1099-B and 1099-K to customers.

It’s important to note that these tax forms may contain errors if you’ve transferred cryptocurrency into or out of eToro (more on this later).

What is the FIFO method?

eToro’s tax forms calculate capital gains and losses according to first-in first-out (FIFO). However, it’s important to remember that the IRS also allows for specific identification methods when calculating your crypto taxes (which can help reduce your tax bill in some circumstances).

For more information, check out our complete guide to FIFO, HIFO, and LIFO.

Does eToro report to the IRS?

As noted earlier, eToro does send 1099-MISC forms to both customers and the IRS.

In the future, eToro and other exchanges will likely be required to send more comprehensive tax information to the IRS. The American infrastructure bill requires all exchanges to send 1099-B reporting information to customers and the IRS.

Do I receive tax documents for stock/ETF trading on eToro?

Tax documents for stock/ETF trading on eToro are filed with the IRS, and are available for download under Tax Documents in your Account Settings.

When will my eToro tax documents be available?

Typically, crypto exchanges send 1099 forms that detail taxable income during a tax year to customers by February 15 of the following year.

Why are my eToro tax forms inaccurate?

If you’ve transferred your crypto into our out of eToro, your tax forms may be inaccurate.

This is a common problem for cryptocurrency exchanges. Because crypto investors often transfer their holdings between different wallets, exchanges often don’t have access to information about cost basis they need to calculate taxes.

Cryptocurrency tax software like CoinLedger can help. The platform can aggregate your transactions across all your wallets, calculate your gains and losses, and generate a comprehensive crypto tax report in minutes.

How to file your eToro taxes in 6 steps

CoinLedger can make reporting your eToro transactions easy. Here’s how you can finish the process in six simple steps.

1. Go to your Settings in your eToro account.

2. Select the option labeled ‘Account’.

3. Click on the ‘View’ button to download your account statement.

4. Click on the Select Dates and then on the Custom option. Select the beginning and end of the tax year you wish to import.

5. Download the xls file.

6. Click ‘Add Account’ within CoinLedger. Then, select eToro. You can drop in your xls file to import your eToro transactions!

And that’s it! Once you’ve imported your transactions from your other exchanges and wallets, you’ll be able to generate your tax report with the click of a button!

Get started with CoinLedger

Want to get started with CoinLedger, the platform trusted by more than 300,000 crypto investors across the globe?

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‍Get started with a free preview report today — there’s no need to enter your credit card details until you’re 100% sure your information is accurate!