Whether you’re staking tokens, buying or selling NFTs, or swapping coins on decentralized exchanges like QuickSwap, tracking your Polygon transactions for tax reporting can get complex.
CoinLedger automatically imports Polygon blockchain data to help account for all of your transaction activity and calculate your gains, losses, and income in minutes.
Import your Polygon transactions in a few easy steps:
1. Create a free CoinLedger account
2. Add your public Polygon wallet address to CoinLedger
3. Generate your tax reports
Cryptocurrencies like Bitcoin, Ethereum, and MATIC are treated as property by 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 Crypto Taxes 101 Guide.
To do your cryptocurrency taxes, you need to calculate your gains, losses, and income from your cryptocurrency investments and transactions in your home fiat currency (e.g. US Dollar, Australian Dollar, etc.). This is what CoinLedger can help with!
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.