Ledger logo

How to File Your Ledger Taxes with Koinly

Ledger pairs perfectly with Koinly to make crypto tax easy! 🤝 Connect Ledger to Koinly to quickly calculate your taxes. ⚡ Just follow a few simple steps! 🖱️

API Import CSV File Import
Last updated: Tuesday, 22 November 2022

How to do your Ledger taxes with Koinly

One of the most popular hardware wallet providers, whichever Ledger device you're using, it's easy to do your Ledger taxes with Koinly.

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

Watch how to do your Ledger taxes fast 

How are Ledger transactions taxed?

Many of your Ledger transactions may be taxable, but if the exact tax depends on where you live and the specific transaction you've made. You can learn more about how crypto tax works in your country in our country crypto tax guides, but in general you'll pay one of two taxes on your Ledger transactions...

Does Ledger report to the IRS?

It's unlikely Ledger report to the IRS currently. As a hardware wallet device provider, Ledger isn't a top priority for the IRS. In fact, many users simply use their Ledger wallets to store long-term hodls, which is tax free. Ledger does not collect KYC data on customers and isn't yet required to (though this could change soon with the new IRS guidance on crypto regulation).

How do I file my Ledger taxes?

You'll need to calculate any gains or income in your Ledger wallet and report them to your tax office. This is normally as part of your annual tax return.

How to connect Koinly and Ledger via API

Ledger does have an API function so you can automatically get your transaction history imported into a crypto tax app.

You'll need to get your wallet address for each blockchain you interact with from Ledger - for example ETH, BTC and BNB. The instructions will be slightly different for each depending on whether you need your public address or xpub key. When you're connecting these in Koinly, you'll see instructions for whether you need your public address or xpub key. Let's take a look.

On Ledger

For Ethereum & any ETH tokens

  1. Log in to Ledger Live
  2. Select accounts from the left hand menu
  3. Select the blockchain/coin you want to connect, for example Ethereum
  4. Copy the public address

For BTC, BCH, BSV, DOGE, DASH & LTC

  1. Log in to Ledger Live
  2. Select accounts from the left hand menu
  3. Select the blockchain/coin you want to connect, for example Bitcoin
  4. In the top right corner, select edit account
  5. Select advanced
  6. Copy your xpub key

On Koinly

  1. Log in to Koinly and go to the wallets page
  2. Select add new wallet
  3. Search and select Ledger
  4. Select set up auto sync
  5. Select connect blockchain
  6. Search for and select the blockchain you'd like to connect
  7. Paste your public address/xpub key
  8. Select import

Important

1. You'll need to connect every blockchain you interact with using Ledger to Koinly. So for example, if you have ETH, BTC and DOGE in your Ledger wallet, you'll need to connect all of these to Koinly via your public address/xpub key in order for Koinly to calculate your crypto taxes correctly.

2. If you're interacting with many blockchains on Ledger, it may be quicker to use the CSV file method below instead.

How to integrate Ledger with Koinly using CSV

To start, you'll need CSV files of your Ledger transaction history. Here's how.

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

  1. Log in to Ledger Live
  2. Select accounts from the left hand menu
  3. In the top right corner, select the three dot icon
  4. Select export operation history
  5. Check the accountants to be included - this should include all your Ledger accounts
  6. Select save

How to upload your Ledger CSV to Koinly

Now you've got your CSV file, here's how to upload it to Koinly.

  1. Sign in to Koinly and select wallets
  2. Select add new wallet: Ledger
  3. Select import from file
  4. Upload your CSV file

Important

1. When downloading your CSV files, check that the file covers your full trading history on Ledger.

2. Don't forget to tag your airdrops and forks. This will ensure that they show up correctly as income on your crypto tax reports.

How do I troubleshoot my Ledger integration to Koinly?

If you need help connecting Ledger & Koinly, try these resources:

Calculate your Ledger taxes

Sign up free today to calculate your Ledger taxes

Can I get a Ledger Live tax report?

No, Ledger doesn’t provide tax reports. Instead, they can provide details about your transaction history which can be used by crypto tax software to calculate and report taxes.

Does Ledger supply a financial statement?

No, Ledger doesn’t supply a financial statement. However, with your Ledger transaction history, you can generate a financial statement that can be used for tax reporting.

Does Ledger report to other tax authorities?

Ledger is a hardware wallet mostly used for holding crypto. As such, it’s very unlikely Ledger reports to any tax offices directly as they have minimal information to share.

Does Ledger give you a 1099?

Ledger isn’t an exchange, so it’s unlikely you’ll be receiving a 1099 form from them. They also only collect KYC data for the “buy” feature in Ledger live - which wouldn’t relate to 1099-MISC income.

Do you pay taxes on Ledger transactions?

You may have taxable Ledger transactions. If you trade or sell crypto using Ledger Live, then any gains you make are likely subject to Capital Gains Tax.

Do I have to report Ledger transactions if I didn't sell?

If you simply use your Ledger wallet to hodl crypto long-term securely, this is not taxable in most countries (excluding countries with a Wealth Tax) and you usually don't need to report this to your tax office.