How to File Your Exodus Taxes With Koinly
Exodus crypto wallet offers investors a secure hot wallet, ideal for trading assets you're looking to invest short term. The wallet integrates with the exchange platform Shapeshift, which makes trading crypto for crypto fast and simple. Koinly can help you do your Exodus taxes safely, quickly, and accurately.
Follow these steps to sync your Exodus data automatically to Koinly:
- Open your Exodus wallet app
- Copy the public address for every coin that you have on it (even the ones with a zero balance)
- Create a free account on Koinly
- Complete onboarding until you get to the Wallets page and find Exodus in the list
- Select API > Paste the public address/key you copied above in the appropriate box
- Hit Import and wait for Koinly to sync your data. This can take a few minutes
- Review your transactions on the Transactions page to ensure everything is tagged correctly and no missing data
- Go to the Tax Reports page to view your tax liability!
Does Exodus report to the IRS?
It’s unlikely Exodus reports to the IRS. Exodus doesn’t require users to complete KYC verification - so you might assume there’s no way the IRS can track your crypto assets and transactions in Exodus. Exodus also doesn’t require you to link a bank card to make deposits and withdrawals.
Your frequently asked questions...
Does Exodus provide documents?
No - like most crypto wallets, Exodus doesn’t supply a tax report for users. You’ll need to use either a crypto tax app to generate your Exodus tax report, or export your Exodus transaction history and calculate your crypto taxes yourself.
How do I get Exodus tax documents?
The easiest way to get your Exodus tax documents is to connect to crypto tax software. You can easily connect via API or by uploading a CSV file of your Exodus transaction history. Your crypto tax calculator will then generate your Exodus tax documents.
Does Exodus provide financial or end of year statements?
No, Exodus doesn't supply a financial statement. But you can use your Exodus transaction history to create a financial statement to use when filing your crypto taxes. Once you've got your Exodus transaction history - you can calculate your crypto taxes manually or get a crypto tax app to do it for you.
Do I have to pay taxes on Exodus?
Yes - if you have capital gains or income as a result of your crypto investment activities on Exodus, you'll need to report these to your tax office and pay taxes on them. Don’t be tempted to avoid crypto taxes. The penalties for tax evasion are steep and you may face fines or even jail time.
Is Exodus Wallet safe?
Yes. Exodus is a secure, non-custodial wallet. However, it is a hot wallet so you should always follow best security practices and store any long-term holdings in a cold wallet.