How to do your Neutron taxes with Koinly
Neutron (NTRN) is a blockchain network that integrates smart contracts with Cosmos ecosystem through CosmWasm. It operates with networks that use the IBC protocol. But if you have Neutron transactions, you might have a tax bill. Fortunately, Koinly can help, here's how.
Follow these steps to sync your Neutron (NTRN) data automatically to Koinly:
- Open your Neutron (NTRN) wallet app
- Locate and copy your public address or key
On Koinly:
- Create a free account on Koinly
- Complete onboarding until you get to the Wallets page and find Neutron (NTRN) 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!
- Head over to our help center
- Hit up our discussion boards - we might have already answered your question
- Ask us on social media - we're on Twitter and Reddit
- Contact us on email or live chat
- Got a feature request? Give us feedback on Canny
FAQs
What is Neutron?
Neutron is a blockchain network that introduces smart contracts to Cosmos-family blockchains using CosmWasm, leveraging the IBC protocol for network interactions. Built on the Cosmos SDK, Neutron employs modularity and capabilities-based security, ensuring robust and secure applications. Its security is uniquely bolstered by the Cosmos Hub through Interchain Security, where Neutron's block validation is managed by the Cosmos Hub's validators instead of maintaining a separate set. Neutron enhances functionality with Interchain Queries (ICQs) and Interchain Accounts (ICAs), enabling smart contracts to securely access data and execute transactions across different zones, further integrating and expanding the capabilities of the Cosmos DeFi ecosystem.
What is NTRN?
NTRN is the native token of the Neutron network and is used to pay transaction fees. NTRN tokens can also be bought, sold, and traded on exchanges like any other token.
Do you have to pay tax on Neutron transactions?
Yes. Your Neutron transactions may be taxable. Crypto tax varies depending on where you live, but in general, you'll pay Capital Gains Tax or Income Tax on your crypto depending on the specific transaction and whether it's viewed as a capital gain or income. You can learn more in our country crypto tax guides.
How do I calculate my Neutron taxes?
The simplest way to calculate your gains, losses, income, and more from your Neutron transactions is to use a crypto tax calculator like Koinly. Just add your public address to Koinly and it'll automatically import your Neutron transaction history, calculate and categorize your profits, and generate your tax reports.
