How to Do Your Exodus Taxes

How To Do Your Exodus Taxes

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

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Exodus Tax Reporting

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

Exodus exports a complete Transaction History file to all users. Simply navigate to your Exodus 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.

Exodus Tax Reporting

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

Exodus Tax Reporting

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

Exodus Tax Reporting

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

Exodus Tax Reporting

Navigate to your Exodus 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 Exodus Generate My Tax Forms?

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

Looking to report your Exodus Wallet transactions to the IRS?

Trying to report taxes on your cryptocurrency wallets can be difficult, especially if you have a large number of transactions or you’ve transferred your cryptocurrency between different platforms.

In this guide, we’ll break down everything you need to know about how Exodus Wallet transactions are taxed. We’ll also share a simple step-by-step process detailing how to report your Exodus transactions on your tax return in minutes.

What is Exodus Wallet?

Exodus is a decentralized exchange and wallet founded in 2015 by J.P. Richardson and Daniel Castagnoni.

Exodus’s custodial wallet allows users to conduct peer-to-peer transactions in more than a hundred cryptocurrencies. The wallet is currently available on mobile and desktop devices.

How is cryptocurrency taxed?

Just like other cryptocurrency transactions conducted on other platforms, Exodus Wallet transactions are subject to capital gains and income tax.

Capital gains tax: When you dispose of cryptocurrency, you’ll incur a capital gain or loss depending on how the price of your crypto has changed since you originally received it. Examples of disposals include selling your cryptocurrency or trading it for another cryptocurrency.

Ordinary income tax: When you earn cryptocurrency, you’ll recognize ordinary income based on the fair market value of your crypto at the time you receive it. Examples of income events include receiving staking and mining rewards.

It’s important to remember that merely transferring cryptocurrency between Exodus and other wallets that you own is not considered taxable.

For more information, check out our complete guide to how cryptocurrency is taxed.

How are Exodus staking rewards taxed?

Exodus currently offers users the ability to earn staking rewards in cryptocurrencies like Cardano and Solana.

It’s important to remember that staking rewards are taxed as income based on the fair market value of your cryptocurrency at the time of receipt.

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

Does Exodus report to the IRS?

At this time, Exodus does not report transactions to the IRS.

However, it’s important to remember that all transactions on your Exodus wallet are publicly visible on the blockchain. In the past, the IRS has partnered with contractors like Chainalysis to analyze blockchain transactions and crack down on tax fraud.

In the future, it’s possible that Exodus will be required to report to the IRS. The American infrastructure bill requires all cryptocurrency brokers to issue 1099-Bs to users and the IRS starting in the 2023 tax year. It’s unclear whether wallet providers like Exodus will be considered brokers.

Why doesn’t Exodus provide tax information?

At this time, Exodus and other wallet providers don’t provide tax forms to customers.

Self-custody wallet providers like Exodus don’t always have access to the information needed to calculate your taxes. That means the burden is on you to track your taxable events.

Unfortunately, trying to calculate your taxes on your own can be difficult. Because most investors transfer their cryptocurrency between different wallets and exchanges, it can be difficult to determine cost basis for your crypto-assets.

Luckily, CoinLedger can help. The platform integrates with hundreds of exchanges and blockchains, making it easier than ever for you to generate a complete crypto tax report in minutes.

How to report your Exodus taxes

With CoinLedger, you have two options for reporting your Exodus transactions: through direct import or manual csv upload.

Import your transactions through direct import

You can upload your transactions directly from the Ethereum blockchain. However, this will not capture transactions made on different blockchains (such as transactions executed on Solana or Cardano).

1. Select the Ethereum coin within the Exodus wallet.

2. Select ‘Receive’, then copy your wallet address.

3. Within the CoinLedger platform, select ‘Import’ and select the option ‘Ethereum Wallet’.

4. Copy and paste your Exodus Wallet address.

5. CoinLedger will automatically pull in your Exodus wallet transactions directly from the blockchain.

6. You can classify your transactions based on the type of activity you’ve conducted.

Import your transactions through manual csv upload

Alternatively, you can import all of your Exodus trades through a manual csv upload. This will capture all of your transactions, regardless of which blockchains you are using.

Here’s a full walkthrough of how to upload your Exodus transactions on CoinLedger through a csv file.

Once you’ve uploaded your transactions, you’ll be able to generate complete capital gains and income reports with the click of a button.

Get started with CoinLedger

With CoinLedger, reporting taxes on your cryptocurrency transactions has never been easier. Join the 300,000+ crypto investors around the world who use CoinLedger to file their taxes in minutes.

Get started with a free preview report today.