How to file your Polygon (MATIC) taxes with Koinly
Polygon is an Ethereum compatible, multi-chain blockchain ecosystem, with the native currency MATIC. Whatever your Polygon investments, Koinly can help with your Polygon taxes.
Follow these steps to sync your Polygon (MATIC) data automatically to Koinly:
- Open your Polygon (MATIC) wallet app
- Locate and copy your public address or key
- Create a free account on Koinly
- Complete onboarding until you get to the Wallets page and find Polygon (MATIC) 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!
How to find your Polygon (MATIC) public address
To connect to Koinly, all you need is your Polygon public address for each wallet you use to interact with Polygon. The exact steps on how to get your public address vary a little depending on the wallet you’re using, but we’ve got instructions on how to get your public address for all the top Polygon wallets including:
Don't see your wallet? You'll find easy-to-follow steps on how to get your Polygon public address from hundreds of wallets here.
And don't forget, in order for Koinly to calculate your crypto taxes correctly you’ll need to add your public address from every wallet you use to interact with Polygon.
Your frequently asked questions
How is staking MATIC taxed?
Staking rewards tax varies depending on where you live, but - generally speaking - staking rewards are viewed as a kind of additional income and subject to Income Tax upon receipt.
How are Polygon airdrops taxed?
Received an airdrop of MATIC tokens? Some tax offices - including the IRS - view this as additional income and subject airdrops to Income Tax upon receipt, as well as Capital Gains Tax upon disposal.
Do you have to pay tax on Polygon?
Yes. You need to pay tax whenever you have income or capital gains from your Polygon investments in pretty much every country in the world. Find out more in our crypto tax guides.
Can the IRS track Polygon?
Yes. The IRS can track Polygon. The majority of centralized crypto exchanges share KYC with the IRS and other tax authorities to ensure tax compliance.