How to do your Starknet (STRK) taxes with Koinly
Starknet is a popular layer-2 scaling solution for Ethereum that uses StarkWare’s zero-knowledge rollup, known as STARK proof. But if you’re trading STRK or other tokens, you might be in for a surprise tax bill. Don't worry, Koinly can help - here's how.
Follow these steps to sync your Starknet (STRK) data automatically to Koinly:
- Open your Starknet (STRK) 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 Starknet (STRK) 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
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FAQs
What is Starknet?
Starknet is a Layer 2 network on Ethereum, helping dApps scale big without sacrificing security. By bundling transactions into an off-chain proof, it boosts throughput, speeds up processing, and cuts costs while keeping Ethereum's security intact.
What are STRK tokens?
STRK tokens are the native crypto for the Starknet layer-two network. STRK tokens can be used to pay fees relating to the network, as well as bought, traded, and sold like any other token.
What's the use of Starknet?
Starknet aims to resolve the scalability issues facing the Ethereum blockchain by processing transactions off-chain to increase transaction speed while decreasing transaction fees.
What does StarkWare do?
StarkWare Industries is a software company based in Israel, specializing in cryptography. More specifically, it develops zero-proof technology to address the scalability issues on the Ethereum blockchain.
How do Starknet taxes work?
Crypto is taxed, whether that's STRK or other coins or tokens. The exact laws vary depending on where you live, but in general, you'll pay Capital Gains Tax or Income Tax on your crypto, depending on your transactions and the rules where you live. You can learn more in our crypto tax guides.
How do I calculate my Starknet taxes?
The easiest way to calculate your Starknet taxes is with a crypto tax calculator like Koinly. With Koinly, all you need to do is add your Starknet address, and it'll automatically import your transaction history and calculate your gains, losses, income, and more. Once it's done, it'll generate your crypto tax report, ready to help you file.
