Trying to report your CoinJar taxes?
Cryptocurrency taxes can be stressful and overwhelming, even for seasoned investors.
In this guide, we’ll break down everything you need to report your CoinJar transactions on your tax return. We’ll also break down a simple step-by-step process to help you finish the process in minutes.
In countries like Australia and the UK, cryptocurrency is subject to ordinary income and capital gains tax.
Like most cryptocurrency exchanges, CoinJar doesn’t provide users with complete tax forms.
Because investors often transfer their crypto between different wallets and exchanges, it’s challenging for exchanges to track cost basis — the investor’s original cost for acquiring their cryptocurrency. Without this data, it’s difficult to calculate capital gains and losses.
As a result, the responsibility for accurately tracking and reporting cryptocurrency taxes falls on the investor.
Of course, manually tracking your cryptocurrency taxes can be difficult. Luckily, there’s an easier way. Crypto tax software like CoinLedger can help you report your cryptocurrency taxes across all your wallets and exchanges in minutes.
There are three methods you can use to connect your CoinJar account with CoinLedger: manual and automatic. Let’s go through these methods.
1. From within CoinLedger, select CoinJar as your account and click on the Sync Transactions button.
2. After clicking the sync button, it will take you to the CoinJar website where you can sign in to authorize CoinLedger to import your trades (note this does not give CoinLedger any access to your funds).
3. After logging in, click "Allow" and authenticate your CoinJar account. From here you will be taken back to CoinLedger. Click Sync transactions to start the importing of your trades.
1. Click the Settings icon on the top right corner of your CoinJar account, then click on API Keys.
2. Click Create New Key.
3. Select the ‘Read Only’ option for your API Key. Then, select ‘Create Key’
4. Note down your secret API Key. You will not have access to it after this step.
5. Go to your CoinLedger account and click the API import button. Then, click Sync Transactions to import your CoinJar transactions.
1. Login to your CoinJar account.
2. Navigate to the Settings page.
3. Under Tax Settings choose to download your Purchase and Sales Report (CSV).
4. You will receive a file in .csv format. Navigate to Step 1. Import in CoinLedger. Select Add Account then choose the CoinJar tab on CoinLedger. Click on Upload File and drag your CSV file into the box to import your transactions.
And that’s it! Once you’re finished, you can import any transactions from other wallets and exchanges and generate a comprehensive tax report with the click of a button.
Want to get started reporting your taxes for CoinJar and other crypto exchanges? Try CoinLedger — the platform that makes lodging your crypto taxes stress-free.
More than 300,000 crypto investors around the globe use CoinLedger to file their taxes in minutes.