How to file your zkSync Lite taxes with Koinly
zkSync Lite is a trustless zk rollup platform and Ethereum scaling solution built by Mater Labs. But if you have transactions on the network, you might have a tax bill. Don't worry, Koinly can help. Here's how it works.
Follow these steps to sync your zkSync LITE data automatically to Koinly:
- Open your zkSync LITE 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 zkSync LITE 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!
This integration only syncs data from the LITE version of zkSync. For the more commonly used ERA version, please use the "zkSync ERA" integration
- Head over to our help center
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FAQs
What is zkSync Lite?
zkSync Lite is a zk rollup platform developed by Matter Labs, designed to scale Ethereum. Already live on the Ethereum mainnet, it offers extremely low transaction fees and operates as a trustless protocol. zkSync Lite ensures that funds are cryptographically secure, similar to the Ethereum mainnet, with users always maintaining control over their funds. It also doesn't require any operational activity to keep funds safe.
What's the difference between zkSync Era and zkSync Lite?
zkSync Lite is an early version of the zkSync network and does not offer smart contract support, though you can send and swap crypto with incredibly low fees. Meanwhile, zkSync Era brought smart contract support to the network and is currently the more widely adopted network.
Do I have to pay tax on my zkSync Lite transactions?
Yes. Regardless of the network, your crypto transactions are taxable. Rules depend on your tax office, but you'll most likely pay Capital Gains Tax or Income Tax on transactions. Learn more in our crypto tax guides.
How do I calculate my zkSync Lite taxes?
The easiest way to calculate your zkSync Lite taxes is to use Koinly. Just add your public address and let Koinly import your transaction data and calculate your gains, losses, income, and more.
