CoinCrypto.com

How to Do Your Crypto.com Taxes

How To Do Your Crypto.com Taxes

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

Crypto.com Tax Reporting

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

  • Crypto.com exports a complete Transaction History file to all users. Simply navigate to your Crypto.com 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.

Crypto.com Tax Reporting

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

  • Crypto.com supports importing data via read-only API. This allows automatic import capability so no manual work is required.
  • Connect CoinLedger to your Crypto.com 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.

Crypto.com Tax Reporting

You can generate your gains, losses, and income tax reports from your Crypto.com 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 Crypto.com account with CoinLedger via read-only API. This allows your transactions to be imported with the click of a button.
  • Upload your Crypto.com Transaction History CSV file to CoinLedger. You can download your Transaction History CSV directly from Crypto.com 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.

Crypto.com Tax Reporting

You can generate your gains, losses, and income tax reports from your Crypto.com 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 Crypto.com account with CoinLedger by entering your public wallet address. This allows your transactions to be read in directly from the blockchain.
  • Upload a Crypto.com Transaction History CSV file to 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.

Crypto.com Tax Reporting

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

  • Navigate to your Crypto.com 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 Crypto.com Generate My Tax Forms?

Many cryptocurrency investors use additional exchanges, wallets, and platforms outside of Crypto.com. Perhaps you also trade on Coinbase or earn interest from BlockFi. The trouble with Crypto.com's reporting is that it only extends as far as the Crypto.com platform. If you use additional cryptocurrency wallets, exchanges, DeFi protocols, or other platforms outside of Crypto.com, Crypto.com 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 is able to track your profits, losses, and 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.

In this guide, we’ll break down everything you need to know to file your Crypto.com taxes — including a 5-step process to help you report your crypto taxes in minutes! 

What is Crypto.com? 

Crypto.com was founded in 2016 by Bobby Bao, Gary Or, Kris Marszalek, and Rafael Melo. The company received its first round of funding in an ICO in June 2017, when it raised more than $25 million. In 2022, Crypto.com’s user base surpassed 70 million users. 

A step-by-step guide to filing your Crypto.com taxes 

Here’s how you can quickly calculate and report your Crypto.com gains, losses, and income for your taxes:

Step 1: Log in to your Crypto.com account

Click on the Transaction History icon on the top right of the Crypto Wallet screen. 

Crypto.com app

Step 2: Click on the Export icon

Crypto.com transaction history

Step 3: Select the proper dates

Select a Start Date and End Date that contains your complete trading history. Then, click on Export to CSV.

Crypto.com export transactions

Step 4: Click on the Download button to download the CSV file. 

Crypto.com export history

Step 5: Import into CoinLedger

In the CoinLedger platform, go to the ‘Import’ step. Go to the Crypto.com tab and upload your CSV file.

Crypto.com taxes

And that’s it! You’ll then be able to create a tax report that includes all of your Crypto.com transactions. 

How are Crypto.com transactions taxed? 

To help you better understand how your Crypto.com transactions will be taxed, let’s review the basics of crypto taxes

The IRS considers cryptocurrency a form of property that is subject to both income and capital gains tax

Income tax: When you earn cryptocurrency as income, you’ll recognize ordinary income based on the fair market value of your crypto at the time of receipt. Examples include crypto interest and crypto staking rewards. 

Capital gains tax: When you dispose of cryptocurrency, you’ll incur capital gains or capital losses. Examples include selling your cryptocurrency or trading it for another cryptocurrency. 

Should I use Crypto.com Tax? 

Crypto.com offers Crypto.com Tax — a product that can connect to your wallets and exchanges and generate a tax report.

While the product was released years ago, Crypto.com Tax hasn't gained traction amongst crypto investors. Because Crypto.com’s main focus is on its exchange offering, its tax product is not as robust as other alternatives on the market. 

In the past, users have complained that Crypto.com Tax has trouble syncing transactions — which can lead to issues like misreporting/overpaying your taxes.

Does Crypto.com report to the IRS? 

Crypto.com provides American customers with a Form 1099-MISC when they earn more than $600 in ordinary income from Crypto.com. 

In the past, Crypto.com issued Form 1099-K to users and the IRS. Crypto.com no longer sends this tax form as of the 2022 tax year. 

What about NFT transactions on Crypto.com? 

NFTs are considered crypto-assets and are taxed similarly to cryptocurrencies. 

As a result, buying an NFT with cryptocurrency and selling an NFT are both considered taxable disposals subject to capital gains tax. 

For more information, check out our guide to NFT taxes

How are Crypto.com staking rewards taxed? 

When you earn staking rewards, you’ll recognize ordinary income based on the fair market value of your crypto at the time of receipt.

How is the Crypto.com debit card taxed? 

The Crypto.com debit card gives customers the ability to make everyday purchases with fiat currency or cryptocurrency stored on the Crypto.com platform. 

When you convert your crypto to fiat to make a purchase, you will incur a capital gain or loss depending on how the price of your crypto has changed since you originally received it. 

Why doesn’t Crypto.com generate my tax forms for me? 

Many cryptocurrency investors use additional exchanges, wallets, and platforms outside of Crypto.com. If you use additional cryptocurrency wallets, exchanges, DeFi protocols, or other platforms, Crypto.com may be unable to provide complete gains, losses, and income tax information.

For example, consider a scenario where you buy Bitcoin on one exchange, then transfer it to Crypto.com. 

In this case, Crypto.com would not know your cost basis for purchasing your Bitcoin since the transaction took place on a different platform. As a result, the platform may have trouble calculating your capital gain in the case of a future disposal. 

That’s why we recommend using crypto tax software like CoinLedger. CoinLedger partners with Crypto.com and other exchanges to help investors report their crypto taxes in minutes. 

Do your Crypto.com taxes today 

Want to get started filing your Crypto.com taxes? Get started with CoinLedger — the platform trusted by more than 400,000 investors around the world. 

Get started with a free account today

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