How to file your Xahau taxes with Koinly
Xahau (XAH) is an XRPL sidechain with smart contract capabilities. But if you have Xahau transactions, you may have a tax bill. Koinly can help, here's how.
Follow these steps to sync your Xahau (XAH) data automatically to Koinly:
- Open your Xahau (XAH) 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 Xahau (XAH) 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 Xahau?
Xahau is a smart contract sidechain within the XRP Ledger (XRPL) ecosystem, designed to enhance its capabilities by integrating "Hooks," lightweight smart contracts enabling complex dApps and custom transaction logic. This sidechain leverages XRPL's established infrastructure and consensus protocol while adding programmability through Hooks. The native token, Xahau (XAH), facilitates smart contract execution and transactions, with a Burn2Mint mechanism allowing users to exchange XRP for XAH. Xahau’s governance relies on a decentralized Genesis Hook Governance Game, rewarding network participants and ensuring sustainability.
Do I have to pay tax on my Xahau transactions?
Yes. Gains and income from crypto are generally subject to Capital Gains Tax or Income Tax depending on where you live and your transactions. You can learn more in our crypto tax guides.
How do I calculate my Xahau taxes?
The easiest way to calculate your Xahau taxes is to use Koinly. Just add your address and Koinly will automatically import your Xahau transaction data and crunch the numbers for you.
