CoinLedger imports Celsius data for easy tax reporting. Create the appropriate tax forms to submit to your tax authority.
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Celsius Tax Reporting
You can generate your gains, losses, and income tax reports from your Celsius investing activity by connecting your account with CoinLedger. Connect your account by importing your data through the method discussed below.
Celsius exports a complete Transaction History file to all users. Simply navigate to your Celsius 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.
Celsius Tax Reporting
You can generate your gains, losses, and income tax reports from your Celsius investing activity by connecting your account with CoinLedger. Connect your account by importing your data through the method discussed below.
Celsius supports importing data via read-only API. This allows automatic import capability so no manual work is required.
Connect CoinLedger to your Celsius 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.
Celsius Tax Reporting
You can generate your gains, losses, and income tax reports from your Celsius 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 Celsius account with CoinLedger via read-only API. This allows your transactions to be imported with the click of a button.
Upload your Celsius Transaction History CSVÂ file to CoinLedger. You can download your Transaction History CSV directly from Celsius 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.
Celsius Tax Reporting
You can generate your gains, losses, and income tax reports from your Celsius 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 Celsius account with CoinLedger by entering your public wallet address. This allows your transactions to be read in directly from the blockchain.
Upload a Celsius Transaction History CSVÂ 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.
Celsius Tax Reporting
You can generate your gains, losses, and income tax reports from your Celsius investing activity by connecting your account with CoinLedger. Connect your account by importing your data through the method discussed below:
Navigate to your Celsius 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.
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. USÂ 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 Celsius Generate My Tax Forms?
Many cryptocurrency investors use additional exchanges, wallets, and platforms outside of Celsius. Perhaps you also trade on Coinbase or earn interest from BlockFi. The trouble with Celsius's reporting is that it only extends as far as the Celsius platform. If you use additional cryptocurrency wallets, exchanges, DeFi protocols, or other platforms outside of Celsius, Celsius 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.
Wondering how to report taxes on your Celsius holdings?Â
At its peak, Celsius served more than 1.7 million customers — many of whom are no longer able to withdraw their crypto-assets.Â
In this blog, we’ll break down how you can report your Celsius taxes. We’ll explain how you can write off potential losses and break down a step-by-step process for reporting your Celsius transactions to the IRS.Â
What is Celsius?Â
Celsius is a cryptocurrency platform that launched in 2018. The platform was famous for offering high interest on certain assets — in some cases, as high as 17% APY.Â
Celsius paused withdrawals for all customers due to market volatility and liquidity issues. In July 2022, the exchange filed for Chapter 11 bankruptcy.Â
How is cryptocurrency taxed?Â
In the United States, cryptocurrency is subject to capital gains and income tax.Â
At this point, it’s not clear if or when Celsius customers will receive access to their holdings. In the case that you do permanently lose access to your coins due to an exchange bankruptcy, you may be able to write off your losses.Â
Interest rewards are considered income based on their fair market value at the time of receipt. You’ll pay income tax based on your personal tax bracket.Â
Does Celsius report to the IRS?Â
In years past, Celsius has issued 1099-MISC when customers earn more than $600 of ordinary income. An identical copy of this form is sent to both the customer and the IRS.Â
How do I file taxes on my Celsius transactions?Â
If you’re using multiple wallets and exchanges, trying to file your cryptocurrency taxes can be difficult. You may have trouble finding your cost basis, which is needed to calculate your capital gains and losses.Â
Crypto tax software like CoinLedger can help. The platform connects with hundreds of blockchains and exchanges — including Celsius — to help you file your taxes in minutes.Â
How to file your Celsius taxesÂ
Here’s how you can import your Celsius transactions onto CoinLedger in 5 simple steps.Â
Step 1:
In your Celsius account, click the dropdown menu in the top right corner and select API.
Step 2:
You’ll want to create a read-only API key. To do this, scroll down to the Unique API Key section and click on Create New Key.
Step 3:
Toggle every Read permission in the window that appears and click on Generate.
Step 4:
Once your key is successfully generated, make sure to copy it and store it somewhere safe. It will not be shown to you again after this step is completed.Â
Step 5:
Navigate to the CoinLedger app. Select Add Account then choose the Celsius tab. Click on Auto-Import then enter your API Key into the correct fields. Once you’re done, click Sync Transactions.
And that’s it! Once you’re done, you can import your transactions from other wallets and exchanges and generate a comprehensive crypto tax report with the click of a button.Â
How CoinLedger can helpÂ
Looking for an easy way to file your crypto taxes? CoinLedger can help.Â
CoinLedger integrates with hundreds of exchanges and blockchains so that you can file your taxes in minutes. The platform is trusted by more than 300,000 crypto investors across the globe.Â
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