In this article, we’ll break down how MexC transactions are taxed and how you can generate a complete crypto tax report from your MexC activity in less than 30 minutes!
CoinLedger makes it easy to report your taxes from MexC and your other wallets and exchanges.
Simply download a csv file for your MexC transactions, then import the file to your CoinLedger account.
The platform will automatically calculate your gains, losses, and income based on your transactions from MexC!
Once you’re done, you can add your other exchanges and blockchains and generate a comprehensive crypto tax report in minutes!
Cryptocurrency transactions on MexC, like any other crypto exchange, are subject to taxation. How cryptocurrency is taxed depends on your country of residence. Generally, crypto transactions are subject to capital gains or income tax:
At this time, MexC does not send tax documents to users. To get the information you need to file your taxes, you’ll need to download a csv file of your crypto transaction history.
Not reporting your taxable income from cryptocurrency is considered tax evasion — a serious crime with serious consequences.
Tax agencies around the world use ‘data matching’ to crack down on crypto tax fraud. In the past, the IRS has worked with contractors like Chainalysis to analyze publicly available blockchain transactions and crack down on tax fraud.
If you lost access to your MexC account, you are still required to report taxable transactions to the IRS and other tax agencies.
If you don't have a record of your MexC transactions, you should reach out to MexC customer support. If this fails, you can reach out to a crypto tax professional to make a reasonable estimate of your trading history on MexC.
MexC Global is headquartered in Victoria, Seychelles. The company was founded in 2018 and serves crypto investors across the globe.
MexC has three levels of KYC (Know Your Customer) verification: Unverified, Primary, and Advanced. It’s possible to make crypto-to-crypto transactions and withdraw up to 2 BTC without submitting any KYC information.
As of 2023, MexC is no longer available in the United States.
Because MexC no longer legally operates in the United States, it’s unlikely that the exchange reports to the IRS.