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How To File Your Huobi Taxes With Koinly

Huobi pairs perfectly with Koinly to make crypto tax easy! 🤝 Sync Huobi with Koinly to calculate your crypto taxes fast. ⚡ Connect in minutes! 🖱️

Last updated: Monday, 30 January 2023

How to do your Huobi taxes with Koinly 

One of the largest global exchanges, Huobi exchange offers crypto investors more than 364 different cryptocurrencies and 57 local currencies, as well as margin trading, futures trading and more. Koinly can help you do your Huobi  taxes safely, quickly, and accurately. 

  1. Sign up to Koinly and choose your country and currency
  2. Connect Huobi with Koinly to import all your Huobi trades safely and securely
  3. Koinly categorizes Huobi transactions into gains, losses and income
  4. Koinly calculates your Huobi Capital Gains Tax and Huobi Income Tax
  5. Download your Huobi tax report from Koinly
  6. File your Huobi taxes online or with your crypto tax accountant

Watch how to do your Huobi taxes fast

Does Huobi report to the IRS?

In short, yes. Huobi haven't outright stated they're sharing KYC information with the IRS, but given they're one of the largest crypto exchanges, it is very likely they have faced the same pressure other crypto exchanges have from the IRS. The best way to remain tax compliant with the IRS is to report your crypto taxes accurately.

How to connect Koinly and Huobi via API

On Huobi

  1. Log in to Huobi.
  2. Select your profile icon in the top right corner.
  3. Select API management from the drop down menu.
  4. Enter a name for your API Key, for example, Koinly.
  5. Under permission settings, check read-only.
  6. Select create.
  7. Read the risk warning pop-up, check the boxes and select I understand.
  8. Enter the security authentication code sent to your email address.
  9. Copy the access key and the secret key.

On Koinly

  1. Sign up or log in into Koinly and head to the wallets page.
  2. Add a new wallet: Huobi.
  3. Paste the access key and secret key.
  4. Select secure import.

Important

Trades older than 4 months cannot be imported with Huobi API. If you have trades older than this, use the CSV file method below instead.

How to integrate Huobi with Koinly using CSV

You'll need to start by downloading a CSV file with your full trading history from Huobi before you can upload it to Koinly - here's how.

How to download and export your transaction history CSV file from Huobi

  1. Log in to your Huobi account.
  2. In the top right corner, select orders.
  3. From the drop down menu, select spot & margin orders.
  4. Select order history.
  5. Select your date range (up to 4 months).
  6. In the top right corner of the order history section, select the export icon. It looks like a sheet.
  7. From here, head back up into the top navigation bar and select assets.
  8. Select my assets.
  9. In the top right corner, select history.
  10. There is no way to export this data, so you'll need to add deposit, withdrawal, conversion and other history manually in Koinly or create your own CSV file to import. Read our guide on how to add transactions manually or our guide on how to create a custom CSV file.

How to upload your Huobi CSV to Koinly

  1. Sign up or log in to your Koinly account and head to the wallets page.
  2. Select add new wallet: Huobi.
  3. Select import from file.
  4. Upload your CSV file or files.
  5. Select import.

Important

1. Huobi only lets you export 4 months worth of transaction data at a time. If you have more transaction data, you'll need to export these in four month time frames and upload each to Koinly.

2. The lack of export capability on Huobi is bearable for those who don't trade regularly. However, for investors with old Huobi accounts or investors with hundreds of transactions, manually adding all this information is tedious to say the least! Thankfully, there is a way to get around this.

3. On the same page you find your deposit and withdrawal transactions, there should be some text that reads, "If you want to view more data, click here to file an application."

4. This link will take you to a page where you can request that Huobi create a CSV file of your complete transaction data. All you need to do is fill out the form letting Huobi know why you want the data, what data you'd like included and what date range to include. You'll also need to verify your account with ID to make this request. Huobi state they respond to these data requests within 5 business days.

How do I troubleshoot my Huobi integration to Koinly?

Need help with Huobi and Koinly? No problem:

Calculate your Huobi taxes

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Does Huobi have tax documents?

No, Huobi doesn't provide specific Huobi tax documents or tax reports. But as one of the biggest crypto exchanges going, Huobi has teamed up with some awesome crypto tax apps so you can use your Huobi transaction history report to generate a tax report for Huobi. The easiest way to do this is using the Huobi tax report API.

How do I get Huobi tax documents?

The easiest way to get your Huobi tax documents is to connect to crypto tax software via API or by uploading a CSV file of your Huobi transaction history. Your crypto tax calculator will then calculate your Huobi taxes for you and generate your Huobi tax documents.

Can you use Huobi in the US?

No. Huobi shut down operations in the US as of December 15, 2019.

Does Huobi provide financial or end of year statements?

You can use your Huobi transaction history as an account statement. It has your complete Huobi trading history and you can use it to generate a Huobi tax statement. Once you've got your Huobi account statement - calculate your crypto taxes yourself or upload your Huobi financial statement to a crypto tax app to fetch a Huobi tax statement in a snap.

Do I have to pay taxes on Huobi?

Yes, if you’ve made any capital gains or income as a result of your crypto investment activities on Huobi, you'll need to report these to your tax office and pay taxes on them. Your country tax regulations will specify what are the income and gains thresholds for paying taxes. Check out our tax guide for your country.

Does Huobi require KYC?

Huobi has some KYC verification procedures in place for users who wish to withdraw over a certain limit. The majority of small traders do not need to complete KYC to use Huobi.

Is Huobi safe?

Huobi has not suffered any major hacks and is generally considered secure. Huobi has however announced it is impacted by the FTX bankruptcy and the CEO Justin Sun has faced several controversies. Your crypto is always safest in a non-custodial, cold wallet.

Does Huobi have Proof of Reserves?

Yes - Huobi has provided Proof of Reserves via a snapshot from addresses on the 12th of November 2022. Huobi was also recently acquired by About Capital in October 2022, and as part of this acquisition, Huobi performed a Merkle Tree Proof of Reserves audit. For more information about what Proof of Reserves are and why it matters - check out our blog post.